Giving personal information
The debt collection ompany I'm dealing with want to:
-Take a "financial statement", including where I bank, names and numbers for two personal contacts (can't live with them), my net and gross income, and any monthly expenses I have.
-After "management" review the "statement", they may (allegedly) lower the amount I owe significantly.
-I'd have to pay an amount upfront as a down payment (probably 50% of the new amount), if I want to get on some monthly payment plan.
-If I'm unable, after giving them all that info, to give that down payment and agree to the monthly amount, then they "move forward"... which they won't say what that means, but I assume it means they sue me.
Thing is, even if they garnish my wages, they won't get any more from me. I don't want to be suckered. I want to pay the debt. What should I do? Is it even legal for them to ask me for that personal information? I live in the state of New York.
I don't own anything, btw. No car or home. Just rent, living expenses, medical insurance, and pay my bills. Only recently started making money as a freelance consultant. Not able to find a job right after graduation. That's what the debt collectors are trying to collect on - student loans.
Thanks so much in advance. I truly appreciate it.