However, you have no obligation to tell a debt collector anything, and in general it is a bad idea to give a debt collector too much information about your circumstances. The best rule of thumb is to refuse to answer any prying questions. For example, if you tell a debt collector about your bank account, the collector may use that information to seize money in the account after the collector obtains a judgment against you. An exception to the rule of not volunteering information to creditors applies when you try to work out a deal with a creditor for a temporary change in loan terms, for installment payments instead of the creditor seizing your property, or for similar purposes. In those instances the creditor will want, and is entitled to, information about your circumstances.
Some consumers respond to financial pressures by spending money in irrational ways.
Not only does this dig you deeper into debt but some types of spending for unnecessary items or through cash advances on credit cards can also cause problems if you later choose to file bankruptcy. You may lose your right to erase these debts in bankruptcy if the creditor can prove that you ran up your credit cards knowing that you could not pay them back. There are counseling groups in many communities that can help you address uncontrollable spending habits. A credit counselor can usually point you in the right direction. It may seem like a responsible road to financial recovery to try to go to school, learn a new skill and get a job where you make more money.