Reasons Not to Answer Interrogatories in Debt Collection

Major Advantages of Debt Settlement Like Paying Less Than 50% Anything You Say Can and Will Be Used To Collect On Your Debts The phone rings and you lift the receiver, flinching from instinct when you put it to your ear; you know it's another collection agency telling you that you're behind on your credit card payments. Or that your car is about to be repossessed.  “But wait,” the man says. “I can help.” All you have to do is provide some information. "Where do you work? Do you have a bank account? Any assets? Any relatives who might be able to help?" He sounds friendly enough, like he really wants to make the problem go away. And if you'll only cooperate, he's sure “we can work something out.” Now you've got a decision to make: Do you tell him you earn $8 an hour at the local motel working the front desk? Should you mention your mom and the fact that she might be able to help you out? While it may sound tempting and the person on the other end may sound genuinely nice, resist the temptation to talk. Debt collectors work like the police. When the cop tells someone, “anything you say can and will be used against you,” they mean it. With debt collectors, any information they can get you to volunteer will be used against you. If you tell them where you work, they'll harass you at work. If you admit you have a bank account, “but there isn't much in it,” they will get a court order to seize your money. Some of the slimiest ones will even harass your relatives if you volunteer that information.  The best advice is: keep your mouth shut and let them fish for information elsewhere. You've got enough to worry about without them calling your 86 year old grand-mother and asking her to help pay your debts from her Social Security payments.