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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2608
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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I'm not sure who to talk to about this. I am the cosigner on

Customer Question

I'm not sure who to talk to about this. I am the cosigner on 3 of my son's loans. I want to know if there are firms that will let me take those 3 loans and refinance them into my name. I also have a cosigner who has 850 credit so I'd get great rates. What sort of firm would I look for?
Submitted: 1 year ago.
Category: Finance
Expert:  Angie replied 1 year ago.

It really depends on what the loans are for. If they have collateral attached to them, and the collateral is in your sons name, it may be difficult to find someone who would refinance a loan.

Your best bet would be to visit your bank and take out a personal loan to pay off the loans for your son and have one large loan rather than 3 smaller... of course that would only work if your son could manage a larger loan payment (which might go down rather than increase if your interest rate is lower.)

Your bank likely offers a debt consolidation loan that would allow you to do this if you qualify.

Customer: replied 1 year ago.
No these are private college loans for which I cosigned. Now he's not paying and they are coming to me to pay
What I want to do is get a loan that consolidated 3 of the loans I cosigned and use s cosigned to get me the best rate I can. I will pay them, know they're getting paid and not have to rely on him to be responsible. How do I do that.
Expert:  Angie replied 1 year ago.

Thank you for clarifying. There are several options that allow you to consolidate private student loans. I am giving you links to some of the most popular ones: