How much info to should you tell a cc co when trying to settle
Date: Mon, 06/22/2009 - 20:47
Someone raised a good point on one of my previous posts. What should you do when the credit card companies start asking questions about income and home ownership? What are we obligated to tell them?
I don't think you should tell the creditors your income details
I don't think you should tell the creditors your income details or your home ownership details, because it may hurt your settlement process. You just need to inform them that you cannot keep up with your payments and you want to settle the debt for less. The creditors mostly agree to debt settlement because they fear that if you file bankruptcy, they may recover nothing.
