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Do I have to disclose all of my financial information to a creditor?

Bagley, MN |

I cannot pay Sanford Health Care my bill in total. I can pay them $50 per month. They just sent me a financial disclosure form and told me that I have to fill it out and they will tell me how much I will have to pay them. Do I have to fill out the form and turn it back into them, or can I continue to pay them the $50/month that I have been paying them?

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Attorney answers 3


Though there is no legal requirement that you provide that information to the creditor they may not agree to work with you on a payment plan if you do not. If you owe them money and cannot pay it all at once, they can either accept payments over time, or if they choose, sue you for the entire amount and try to enforce the judgment once it is entered. In reality, if you are making regular payments it is less likely that they will sue you, but it is their choice.

Paul H. Weig

Paul H. Weig


See my answer below. In Minnesota there is a specific Court Form called the Financial Disclosure Form. If the questioner has a judgment against him, there probably is a legal requirement that he fill out and return the form.


This is a double-edged sword. If you do not complete their financial form, then they will not work with you on a monthly payment. They are not obligated to simply accept your $50/month - you don't get to dictate your payment on a debt. BUT, if you complete the financial form and they still don't work with you, then they will sue you, obtain a judgment, and use the financial information you provided to target your income and assets, making collections a lot easier.

We can be reached at 507.334.0155. Our web address is: www. This answer is not to be considered a response to a specific legal issue in a specific jurisdiction - it is to be considered only a general response to a hypothetical scenario posed by the questioner. For specific legal advice, please consult with a licensed attorney in your jurisdiction.


I can't tell from your question where you are at in the process. If you are dealing with Sanford and it has not gone to outside collections yet, or if you are dealing with a collection agency, you are not legally required to give them information. It may affect their willingness to deal with you, but that's a different question.
If, however, there is a judgment against you and you have been served with an Order for Disclosure, you may have trouble if you do not fill out the Financial Disclosure Form. If you do not return the completed form in this situation, the Creditor's attorney can get an Order to Show Cause - and Order that you come to court and explain why you didn't fili it out. And if you do not go to court for that hearing the Creditor's attorney can ask for a Bench Warrant. Then you could be picked up by the Sheriff and held until you can be brought before the judge to answer why you didn't fill it out. In some counties the Sheriff actively enforces these Warrants, in most counties they don't, but in all cases if you are stopped on traffic stop the warrant will show up when they run your license and the cop or sheriff has to arrest you, that's their job.
I'd be happy to discuss the specific situation with you if you have more questions.
Paul H Weig
(612) 501-4841
Weig Law Firm, LLC
The Minnesota Rules of Professional Responsibility require that I advise you this is an advertisement because I have invited contact. Because I also help people file for bankruptcy protection I am a debt relief agency under Federal law.

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