About 10 years ago, my wife co-signed on a loan for my daughter. We borrowed {$27000.00}, Today, we owe {$47000.00}! We have made payments over the past 10 years, but there came a time when we could not make full payments. A couple of years back the agency we borrowed from sold our debt to a law firm that offered us an arrangement. We now pay {$50.00} a month. I am unemployed and currently have XXXX of my adult children and our granddaughter living with us. The added expenses make it very difficult to pay more. What I would like to know is why this law firm increases the balance of our loan principal by $ XXXX/month! I do n't own a home, have spent all our savings, and have no other assets to be able to offer a settlement. At this point, my wife and I ( I am XXXX ) will never be able to pay this loan off.