A settlement is better than going to trial! However, stay cautious since they might use the information and try to garnish your wages.

Bank will presumably be suing me for a personal loan. I offered to go for settlement. They're asking for my 4 year financial statement along with details of previous year's tax returns. How will I be able to negotiate if they already have all the financial info like that? Should I just let them go for the trial then or still continue with the settlement?

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A settlement is better than going to trial, anyday! However, stay cautious since they might even use the info and try to garnish your wages or extract money from your accounts.

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That's a pretty common request. They always end up asking for your financial details, mostly because they want to check how much you can afford to pay during settlement. Well, there's nothing to worry about unless you have a higher income than what you're showing to them.

They'll presumably work out a payment plan and offer you a deal. You can negotiate thereafter.


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