Credit Cards Center Credit cards from our partners
Reply
Regular Contributor
Posts: 236
Registered: ‎10-03-2011
0

American Honda pulled account from Northstar and gave it to NCO FInancial - 30 days to dispute debt

I have an old repo from 2007 with American Honda Financial.  Just recently, this account was sent to NCO Financial and they are giving me 30 days to dispute the debt.  When the debt was with Northstar I had called Honda and found out they still own the account but it was assigned to Northstar.  I am wondering if this is the same with NCO FInancial Systems, Inc. 

 

My question is, do I send the DV letter to American Honda Financial since they still own it?  -Or do I sent it to NCO?  Maybe both?

 

Another **bleep** with Honda for a PFD.  My thoughts are to do the following:

 

  • Send DV letter.  (just need to figure out to who)?
  • Send expired SOL letter and demand removal from both Honda and NCO, or...
  • Work with Honda directly since they still own the account, argue the SOL is expired and they will not recover any $ from me.  But, perhaps if I offer them 10 or 20% of the balance they would agree to call off NCO and they will delete their reporting?  It will benefit me and them.  Recovering a portion of the balance is better than nothing, right?  -I hope they see it that way!

Does anyone think there's logic to this?  Here is some info about the original acct and NCO's reporting.  Thanks.

 

Original Creditor:

American Honda Lease, repo.

Deficiency amount $10,934.37

Original date of Delinquency:  Nov 2007.  No reaffermation of debt after this date.

 

 

 


Starting Score: 672 TU, 669 EQ, 659 EX FAKO(10/3/11)
Current Score: 786 TU FICO(5/23/14), 758 EQ FICO (8/01/14), 811 EX FICO (5/26/14)
Goal Score: 720+

Take the FICO Fitness Challenge

Moderator
Posts: 14,051
Registered: ‎04-15-2011
0

Re: American Honda pulled account from Northstar and gave it to NCO FInancial - 30 days to dispute d

First of the DV process is only for the CA, not the OC.  If the OC can still accept the debt, then I would deal directly with them.  The fact that this account is past the SOL does not  mean it has to be removed from your CR.  That is a matter for the CRTP.  It does however give you a little bit better option of settling.  Since it is past the SOL, you could try to settle for the 10-20%.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.