collector asking for paystubs

I am trying to make an offer for a settlement with a monthly payment option. The collector is telling me that I need to submit 3 pay stubs as proof of employment and to show that I have a hardship. Do I have to do this? I don't think that I need to. Am I right?

Comments for collector asking for paystubs

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May 27, 2010
collectors and paystubs
by: Mary

Thanks for submitting your debt collection question on our Q&A page.

No, you do not have to provide the collector with your pay stubs when you are trying to settle your debt. In fact, it's a bad idea to do so because the collector may use that information to deny your settlement request or to demand that you settle for more than you are asking for. Also, the collector might use your pay stub information to help decide whether or not to sue you for the money you owe. However, if you are asking to settle for far more than the collector would normally settle for, you may need to share your pay stubs in order to help justify why the collector should agree to such a small amount.

I suggest that before you continue negotiating with the collector, you listen to the podcast interview I did with Michael Bovee, president of Consumer Recovery Network, a fair and ethical debt settlement firm. You can listen to my debt settlement podcast where I interview him about how settlement works.

I also advise that you contact Michael directly at Consumer Recovery Network for a free consultation about your settlement efforts. He may be able to offer some suggestions

Please share what happens with your situation in the comments section for this question. We are very interested in hearing how this turns out for you, and your experience can help others who are in situations like yours.

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