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    barbara_1957's Avatar
    barbara_1957 Posts: 2, Reputation: 1
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    #1

    Oct 7, 2013, 10:35 AM
    Disclosures
    Do I have to disclose financial info to a debt collector when making a settlement offer?
    barbara_1957's Avatar
    barbara_1957 Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Oct 7, 2013, 10:38 AM
    Do I have se personal financial info when making a settlement offer?
    A debt collector is requiring personal financial info to consider an offer of settlement. Why would life insurance, mortgage and bank account info be needed?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #3

    Oct 7, 2013, 12:36 PM
    First, its not a good idea to piggyback your question on another thread. To avoid confusion I've moved your question to its own thread.

    Who is making the offer? The creditor may require the info as part of the settlement. If you are making the offer, they may want to see your info before accepting. You don't have to supply the info, but they may not accept the offer if you don't.

    Look at it this way. If someone owed you $10,000 and they offered to pay only $100 a month, wouldn't you want to make sure that was all they could afford?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Oct 7, 2013, 12:46 PM
    Insurance info is probably not needed, But knowing your mortgage payments and bank account info is clearly pertinent.
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