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American Express Collected Account

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Anonymous
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American Express Collected Account

I had a regular AMEX account for 13 years in good standing.  After my ex-husband stopped paying child support, I fell behind and my account went into collections.  NCO financial, the collection agency over this account, said that they would remove the collection status and my account would reflect as positive as soon as I paid it off.  I took my daughter out of private school to pay off the debt and was done with the $7800 balance within 5 months as agreed.  NCO also promised to reestablish my relationship with AMEX and guaranteed that I would get a Blue account with them upon satisfaction of my debt.  I was done with this debt in August 2006.  They did not follow through with changing the status or with getting me any credit card with AMEX. 

 

The account currently reports as collected, with a "0" balance and a status of 120 days past due on Equifax pulled 2 days ago. 

 

My question is, "Should I pursue the matter with either AMEX and/or NCO or leave this alone?"  My current FICO is 657.  Would stirring this up cause the SOL to reset in Florida? 

 

Also, in August 2008, my FICO was at 621.  I really had not checked it since the AMEX event.  Since it has gone up 36 points in the past 8 months, is it safe to conclude that the average increase for me is 4-5 points per month of perfect paying history?  I have a $5000 balance on a Discover card which I plan to pay off in the next 6 months, which will make a "0" balance on all cards, so I am trying to gauge when my score could be at 700 or better.

 

I am brand new to this forum and need guidance.

 

Thanks!

Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: American Express Collected Account

Who is reporting? AMEX or NCO?

 

Do you have anything in writing from NCO?

 

SOL isn't an issue if the account is paid.

 

Having all accounts at $0 will ding you. Let a small balance report on at least 1 account. Just $5 is enough.

 

What is the DOFD on this account or removal date listed?

Message Edited by sidewinder on 04-08-2009 08:30 PM
Message 2 of 5
Anonymous
Not applicable

Re: American Express Collected Account

Thanks for the quick response! AMEX is the reporting agency. A Transunion report from last August(2008) said the scheduled date of removal is 8/2013. 

 

The Equifax report that I pulled 2 days does not even say that.  In the seven year history boxes listed "30,60, and 90" days, they appear empty with no late payments posted.  In the box that has "balance, current status, and past due amount", it reads " 0 balance,120+ days past due, past due amount not reported."  

 

I did not get anything in writing from NCO.  It was my first collection experience and I did not know enough about how these agencies work to negotiate a PFD.  I thought that they were honest business people and took them on their word ( as I kept mine.)

 

What shoud l do at this point to have that deleted?  I have read some posts here that say that inquiries sometimes stir up the account activity and reset the time for removal.

Message 3 of 5
tullz85
Frequent Contributor

Re: American Express Collected Account

Well, if you have already paid NCO - all you can do is GW them...
Message 4 of 5
Anonymous
Not applicable

Re: American Express Collected Account


allumer1 wrote:

Thanks for the quick response! AMEX is the reporting agency. A Transunion report from last August(2008) said the scheduled date of removal is 8/2013. 

 

The Equifax report that I pulled 2 days does not even say that.  In the seven year history boxes listed "30,60, and 90" days, they appear empty with no late payments posted.  In the box that has "balance, current status, and past due amount", it reads " 0 balance,120+ days past due, past due amount not reported."  

 

EQ reports a DOFD, not a removal date. It will have to be a report directly from EQ.

 

I did not get anything in writing from NCO.  It was my first collection experience and I did not know enough about how these agencies work to negotiate a PFD.  I thought that they were honest business people and took them on their word ( as I kept mine.)

 

So, NCO isn't appearing anywhere on your report?

 

What shoud l do at this point to have that deleted?  I have read some posts here that say that inquiries sometimes stir up the account activity and reset the time for removal.

 

Nothing can reset the time for removal. However, causing certain accounts to update can harm your score.


 

Message 5 of 5
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