No. of Recommendations: 0

It never hurts to ask. I would imagine if you tell them her age and health and finincial situation that they may be open to an offer.
2 problems. Grandma will get a 1099C from the credit card companies reflecting the amount forgiven and she may have an income tax liability. If she can prove she was insolvent on the date the 1099C is issued she will owe no taxes.
Secondly, they may not release that info to you over the phone. Granny may need to call and get her payoff amounts and relay the info to you. Doesn't she get a monthly statement from the banks?
Good luck.
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.