Who has been asked for Income Verfication?

I never verify income to a collector. I would tell them I had no income before I verified. You lose your bargaining power if you give up your source of income and the amount. It is none of their business. All they need to know is the amount you are willing to settle at. They can either accept the offer in writing or decline and not get paid.

no matter what your income is, the fact remains that you need it. do not offer this info, its not required or necessary. if you have a income of 500,000 a year and 49,000 in bills, your no better off than someone who has a income of 20,000 and 19,000 in bills. dont offer this info you dont have to it will only hurt you and your settlement process.

Sorry Love my things, but as a former bill collector your logic is off. Someone earning half a million a year with less than $50k in debt is WAYYYYY better than your other example. A 10% DTI ratio is extremely comfortable living vs a 95% DTI ratio.

As a former collector, we were required to get income and debt info to settle. I know our credit card division would ask all the questions regarding income and match it up to what was appearing on the credit report. These were usually client or creditor requirements.

oooo sorry missed a 0 in there! im way off today i opologize iment 490,000!!! didnt get much sleep last night.

Collectors send out offers every day without verifying income. If a collector was not willing to settle without that information then I just would not settle with that collector and move on to another debt. They have no reliable way to verify anyway other than the info you give them. You could easily tell them you were unemployed and have no income and that would be their verification.