Gary D asked:


(Before anyone leaves the inevitable smart-a*, “deadbeat” remark, I’m not a deadbeat. I’ve been laid-off due to the economy 5 times in the last 7 years and the employers who laid me off gave me BOTH raises & promotions prior to the layoffs. I’m now re-employed by one of them.)

Rather than go into Chapter 7 or 13, my creditor (unsecured credit card debt) told me they would put me on the following plan “IF I QUALIFY”. They said they will ask me the qualifying questions on Monday.

5 Years to pay back the entire balance
2 to 3% interest rate
No fees
Payments will be 1.75% of the balance ($152 per month)
and after 6 months they will “re-age” the account to show it as paying on time.

Can anyone tell me what questions a bank has asked them in this kind of “qualifying questionnaire”? I’m sure it’ll be, “How much do you make presently, what are your expenses, etc.” but I would like to hear from someone with personal experience in this -negotiating with the creditor.

Olevia