My mom is paying $280 a month for a loan she took out for me in 2011. I want to transfer the loan to my name, and then try to negotiate payments down. I don’t work but my husband makes decent money, at a government job. Someone told me to transfer it to my name, let it go to collections, then negotiate with that agency. Is this an option? What do I do to get this payment down? Even with my husbands decent salary, we can’t afford $280 a month. I need to get this loan out of her name, that’s paramount. I don’t work but we will have to pay it somehow, and I need advice on how to lower the payment substantially.
Posted by sheneedaname