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Author: jsn7 Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308452  
Subject: Re: Why, Grandma! What big debts you have! Date: 5/24/2001 8:29 AM
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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.
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