Don't believe them. I was offered a settlement 10G on a 40G balance. I borrowed the money then low and behold the bank would not accept it. Then they have the nerve to say that since you have 10G now you can pay that. Paid out my Fed Loan instead.

Hi Anxiety

I had a simlar situation, I wanted to settle the debt and they said they will approach CIBC with it. They asked paystub and etc, my story was different as I said I wasn't in the country and I was getting paid in cash outside. I made up a letter annd said this what I can afford

I guess they just need something to work with, and I got settled

Ask them for letter of offer which will say like this

http://img189.imageshack.us/img189/6674/75531118.jpg

Ask for settlement offer first

For more info on FCA, read here

/threadview/1566.html

Also - as the date approaches end of the month, they want it settled so they could meet their quota so play it such a way that it around that time

Yeh well that is my concern, the pay stub bothers me more then the tax assessment from last year. lol I have never been contacted by ARC before.

Once student loans phoned me 2 years ago but because I couldnt remember the address I was at when I got it the loan, they wouldnt let me make payment arrangements.

He says he wants the information to show that my income is low and unable to pay the 5000. Do I trust what he is saying? I am not sure, not had to deal with something like this, my credit report is clean, I have nothing showing overdue or anything on it.

Should I maybe ask for a letter stating what he is asking me for and the purpose of why he wants this information?

I hope they don't have a judgment against you that you’re not aware of. If you give them this information they might try and garnish your paycheque or your bank account. If they don’t have a judgment against you, then they need to show RBC you are broke. The showing of the paystub makes me suspicious.When was the last time you made a payment on this account?

Well I just got a phone call from this company, about a 10 yr old student loan with Royal Bank. Which I do owe about 5000 to, I have no problem trying to make arrangements to pay this. But question what they are asking for, they want my tax assessment and pay stub + letter of hardship, says then he will approach Royal Bank with this, and try to get arrangements to pay only 1500 and this will pay this debt in full. What should I ask him for before paying, should I send these personal documents when I have not received anything from them in the mail etc. If I send these and he says that it would be accepted, should I get a letter from him in the mail stating if I pay this amount it will be paid in full, before paying it ? Thanks for any help with this.