topic Re: nco financial in General Credit Topics

nco financial

dezsmama — Thu, 23 Aug 2007 00:17:41 GMT

is it a good idea for me to pay OC (sprint) than paying the CA (NCO FInancial) because i received a letter from them saying i owe $1032.32. im thinking abt paying the OC $170 a month for 6 months til its paid off. what do yall think?

Re: nco financial

Anonymous — Thu, 23 Aug 2007 00:42:29 GMT

I would pay the OC

Re: nco financial

Anonymous — Thu, 23 Aug 2007 09:49:27 GMT

That's what I've been wondering if I should do the same. But what do you do about the CA's collection charges if they come after you? And that they are on a CR?

Re: nco financial

Anonymous — Thu, 23 Aug 2007 14:15:25 GMT

@dezsmama wrote:
is it a good idea for me to pay OC (sprint) than paying the CA (NCO FInancial) because i received a letter from them saying i owe $1032.32. im thinking abt paying the OC $170 a month for 6 months til its paid off. what do yall think?

As with everything.....

GET IT IN WRITING!!!!!!!!

If the debt is paid to the OC then the CA disappears. It will likely depend on if the debt has been "Turned Over", or "Sold". I believe if it has been sold the the CA you will have to deal with them. However, if it is only turned over to the CA, the OC still owns the debt and you can make arrangements with them.

Dave

Re: nco financial

Anonymous — Thu, 23 Aug 2007 19:11:36 GMT

im lost.....

I have always been told never to pay anythng that hits a collection agency as it has already done it's damage and paying it will move the DLA forward making it last longer on your credit report. Is this right?

Re: nco financial

George2037 — Thu, 23 Aug 2007 19:23:59 GMT

From what I've gathered the only thing that will increase DOL is a Judgement. If you pay in full to the OC chances are you can get them to agree to back dating the payment prior to original default, but get that in writing before paying it.

Re: nco financial

Anonymous — Thu, 23 Aug 2007 20:50:25 GMT

goingnowhere wrote:

im lost.....

I have always been told never to pay anythng that hits a collection agency as it has already done it's damage and paying it will move the DLA forward making it last longer on your credit report. Is this right?

Ummmmmmmmmmmmmm not exactly. Please read the Credit Scoring 101 thread at:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

If you don't pay CAs, your risk is that they will sue you, win, get a judgment, and then garnish your wages or bank account.

If you pay a CA, the DOFD does not change, but you are correct that some sleezy CAs will illegaly re-age the debt.

Re: nco financial

Anonymous — Thu, 23 Aug 2007 20:58:01 GMT

George2037 wrote:

From what I've gathered the only thing that will increase DOL is a Judgement. If you pay in full to the OC chances are you can get them to agree to back dating the payment prior to original default, but get that in writing before paying it.

Here's a useful thread:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689&view=by_date_ascending&page=1

I'm not quite sure what "DOL" means -- are you referring to DOLA which is date of last activity?

If you have an account in collections, what matters is the DOFD -- date of first delinquency, or when you stopped paying. An account in collections sits on your report for up to 7.5 years from DOFD. If a CA gets a judgment against you, the judgment sits for 7 years from date it is filed.

I can't imagine an OC "back dating" a payment. You are correct, if they agree to something, get it in writing.

Re: nco financial

Anonymous — Thu, 23 Aug 2007 22:45:45 GMT

dezsmama wrote:
is it a good idea for me to pay OC (sprint) than paying the CA (NCO FInancial) because i received a letter from them saying i owe $1032.32. im thinking abt paying the OC $170 a month for 6 months til its paid off. what do yall think?

Call the OC. They will let you know if they still have your account info. If they do not then you must deal with the CA.

OC has account....ask if you can set up payment arrangments. Also ask if you pay ontime will they agree to delete. If they agree ask them to mail you a letter stating this. (make sure the letter states amount to be paid & that they WILL delete) If they will not delete...make payments anyway. BUT get it in writting!!! It will not change you DOFD but it might change your SOL.

Once you have the letter from OC stating that you can make payments...file disputes with all CRA that have the CA on your report. NEVER NEVER be late on payments it will void the letter!!!!

Re: nco financial

Anonymous — Thu, 23 Aug 2007 23:39:34 GMT

I had NCO contact me about a Directv account. I DV'd them and they sent a letter stating the account is closed with them and I should contact Directv about this account.

Re: nco financial

dezsmama — Fri, 24 Aug 2007 01:35:20 GMT

yes the OC still have my account information. i called and asked them for arrangements, they were ok'ed with the payment i offered. but i will send out a letter stating that we agreed on the payment for 6 months. but they also said i can go to the sprint store and make the payment, either that or send a money order, whichever is convienent for me.

Re: nco financial

Anonymous — Fri, 24 Aug 2007 02:00:57 GMT

onmyway3161 wrote:
I had NCO contact me about a Directv account. I DV'd them and they sent a letter stating the account is closed with them and I should contact Directv about this account.

is it on your report?

Re: nco financial

Anonymous — Fri, 24 Aug 2007 02:04:14 GMT

dezsmama wrote:
yes the OC still have my account information. i called and asked them for arrangements, they were ok'ed with the payment i offered. but i will send out a letter stating that we agreed on the payment for 6 months. but they also said i can go to the sprint store and make the payment, either that or send a money order, whichever is convienent for me.

when you talked to them did you ask at that time ti mail arrang. to you?

If not word you letter and ask for return in writting.

If you can pay online it is better & faster If you pay at store only pay by check! and be sure & keep a copy of them IF store will give a receipt stating that payment is going to your account keep that also.

Re: nco financial

Anonymous — Fri, 24 Aug 2007 04:54:44 GMT

Deszmama... double check something...

Make SURE you get it in writing from the OC that 100% of your payments will go to and STAY with the OC. And to those of you who say you have to pay the CA if the account has been sold to them, that's not exactly right.

If you raise enough cain about how the CA has badly represented the OC in their collection procedures, the OC might very well RECALL the account from the CA and deal with you directly. It's been done, but you have to be very firm about what you want.

Re: nco financial

dezsmama — Fri, 24 Aug 2007 15:55:17 GMT

credithawk..but i asked to get it in writing..they said it has been all over on the account..so that means i have to write them a letter to demand that they get it in writing..??

Re: nco financial

Anonymous — Fri, 24 Aug 2007 17:09:37 GMT

dezsmama wrote:
credithawk..but i asked to get it in writing..they said it has been all over on the account..so that means i have to write them a letter to demand that they get it in writing..??

send the a letter telling them that you need the payment arrang. in writting. If it isn't in writting they can always say that they had no such arrang. It has happened to others. After you get it in writting you can then dispute the CA. When dealing with all these people you must have proof!