How much info should you divulge to CCs?

A lot of information they can get without you telling them. Your car payment is on your credit report. Your income can be found out quite easily. However you start hiding things and they figure it out, you could end up deeper in do do that you may like. When I was collecting, those who were totally honest got the best settlements. If I thought they were lying, I would do my research...and usually my guy instincts were correct.

so do you think there any "things" you should leave out? or is it better to give a really good sob story?

Greetings,

I never told any of them any details other than times were tough and that you are doing the best that you can under these trying circumstances.

They'll try every method to get you to pay.:o

It never hurts to have an onion laying around just to tear you up! :cry:
IMHO....speak slowly, sadly and lament every 30 seconds or so.

But utmostly, you must be polite.
This goes a long ways.

Good Luck,
King "Kash" Jabba Labba

I don't share that info with CAs. I simply tell them I'm not sharing that information with them, period. I'm not rude about it, just firm.

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Send them a letter telling them to communicate by mail only! Make it polite and professional.

"do tell how this is possible.

im not aware of any report or anything that shows income. hell most of the CC companies still have me at a job i was at 5 years ago"

I join in wanting to know how this is accomplished. My understanding is that its on your tax forms and your paycheck statement if you have one and no where else unless its voluntarily disclosed.

Also my understanding is they do NOT have access to either of these documents for standard CC unsecured debt so I'm also extreeeeeemly interested in how this is found out 'easily" so I might can combat it.

Thanks.

You won't be able to combat it. If you file a tax return, your creditors can find out how much your income is. Simple as that.

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Yeah thats kind of where I was at Black. I did a little research on the irs site etc and it looks like you have to give permission for the IRS to discuss/disclose your info to third parties.

The loophole seems to be your preparer if one exists. If they buried some consent to sell your info in the wall of text you sign then that seems to be fair game.

Also it can apparently be disclosed legally to any govt agency so when you get down to a few tiers below the irs itself its probably pretty easy for a CA/PI or whomever to bribe some underpaid worker into illegally giving your info up with no real paper trail to show you where it got out.

But as far as creditors having direct legal access to your tax return info I have to call BS on that hard as its contrary to what ive seen.

If anyone that had been in the biz (like Soaplady etc?) would like to let me know what im missing Id love to be proven wrong.

It's going to depend on the type of debt. If you have a federal student loan, for instance, they're going to be able to access your tax info.

If you've applied for credit, you've included your annual household income and your employer on the application.

If a collection agency is directly associated with a certain credit bureau, they are privy to any information the credit bureau has. Even if a collection agency has no direct ties to a credit bureau, they can pay a fee and ask the credit bureau to locate you.

The World Wide Web: In this day and age, there may be no easier way to find someone than by simply logging on. The Internet not only provides addresses, phone numbers, and public records, but it also allows those who are search savvy to find out whether you???ve ever been in jail and where you presently work. Everything from MySpace to Facebook, from e-bay to high school reunion sites can be used to find you.

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I just did a loan mod...well all the paperwork for one. I had to FILL out a form and give permission to my mortgage company to access my tax return from the IRS..don't remember the form name. But they told me that it is the only legal way for them to access that info and they have to have a signed consent from me and my husband. I am going to assume the cc companies would have to have the same. I seriously doubt anyone can just magically pull up this information. So far in settling 2 or our cards this has never come up. I agree with King in that it is best in how you tell your story. I have never lied. But I do stress how dire our circumstances are and do not hesitate to give them any emotional details.

I didn't realize we were only talking about credit cards. I thought we were talking about ways for CAs to find you and/or your info, period. I guess I wasn't specific enough in my statement, hence my clarification in the second post.Check out this link for info on whom can access what info about you.http://www.privacyrights.org/fs/fs11-pub.htm

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Bingo Black. Me and you were pretty much thinking the same way as far as the "easily found" comment.

Yes CRAs can tell what youve given them as info but this is not always still correct, you might have taken a pay cut or even be at a new job since you applied for credit last.

Yes tax debt and student loan debt opens you up to a lot more legal scrutiny and I have little doubt that the IRS would help them in any way they wanted.

But for CC debt this didnt pass the smell test as we both mentioned.

Not to say one couldnt bribe someone with the access and get the info under the table but I was mainly worried about legal means and I think we've established its not happening that way....

This is not rocket science. You owe somebody money, and their trying to figure out (1) if you can pay and if so how much. Some offer programs to ensure their gonna get paid something. Other than that, their trying to determine if you don't pay, can they get $ by suing you. If your employed regradless of your necessities, they can and will go after you. My opinion is based upon settling 17 cards, and in my case I'm self employed (No lawsuits) but for those that accounts where the holder was employed and made that fact known to the creditors law suits were a reality for 2 outta 3 cards. Chase at day 60ish and Amex at day 90. Keep in mind the creditors do have access to your credit reports and can see wahts getting paid and whats not. Of course you gotta pay your car payment, but they know if your paying that, than you can be sued and get a judgment to put their lien in place...Milage may vary...

Hi, OP here- the original inquiry was about how much info should you give and still position yourself as "cooperative". Question about how much my utility bill is..?... depends on the weather right? I would assume that they are trying to piece together a budget to see if you can afford payments of some kind or what they can push for? Or maybe the beginings of establishing a settlement threshold?

That would be my thought that they are trying to do some math and come up with a number you have less valid arguments against.

Its just a sales technique, Ive read a Debt collection book recently and its all pretty much the same techniques as I was taught when I was in sales long ago. Overcoming objections, getting "buy in", ask some things youll say yes to to get you used to saying yes etc etc. The mentality is the same as in sales from what I read in that book.

My thought is they are NOT on your side and any info you give them should be heavily weighed.

I see your point about trying to appear to be cooperative though

They're never on your side. Refusing to answer their personal questions and refusing to pay are totally different things. The only time I'd give them that info is when they're trying to get you into a hardship payment program.

[SIZE=3]If it is a junk buyer then I never validate, verify or volunteer personal information to a collection agency. It is none of their business how much you make, how much your monthly bills are, if you own or rent, etc. If you give them any of that information there is a pretty good chance it will be used against you. The only piece of information I might validate is my soc# and a current address if I know they already have both and I want to keep any form of communication with them. If I intend on ceasing communication then I will only allow them to give me an address and that is all. [/SIZE]

[SIZE=3]If it is the original creditor then I will provide a soc# and current address. I still will not discuss income and other bills with the exception of if I was trying to get hardship. [/SIZE]

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I'm not saying that's a hard rule, but just myopinion based upon my limited experience settling the 17 accounts. 5 were mine, I'm self employed and NO lawsuits. 9 more unemployed status. Now on the 3 cards where the account holder indicated he/she was employed but with reduced hours=2 lawsuits within 90 days. I think the point is if you divulge your working then they expect some kind of payment and if you simply tell them there's nothing left after you pay on your regular bills they know you're collectable....