topic Re: NCO Financial - PFD Experiences?? in Rebuilding Your Credit

NCO Financial - PFD Experiences??

Anonymous — Mon, 08 Nov 2010 16:06:34 GMT

I have 11 charged-off student loan accounts. They are now all being handled by NCO Financial. I just recently started to get settlement offers for these accounts and they are for about 60% of the original amount due, which is great. I would like to start paying these accounts off to move on, but I'm wondering if I can also get NCO to delete for the payment. I supposse I would just send a counter-offer stating that I will pay the settlement amount, but only if they delete the record on my credit report. Has anyone had success with a PFD with NCO?

Thanks!

Re: NCO Financial - PFD Experiences??

iBkickinit — Tue, 09 Nov 2010 10:49:22 GMT

NCO is a mean animal. I dealt with them and ultimately won, but it wasn't ez. Not all have been successful.

Get anything in writing. They swore consistently that they would never allow PFD. I had 1 paid and 1 unpaid. I did my research and ended up paying the other hoping for a GW. I finally suceeded with an e-mail to [Edited] (search it...). No telling if she is real, but I wrote her an honest letter in typical GW fashion, and got a response. The response bacially said "Sorry, it is our policy to report accounts accurately"... BUT, less than 48 hours after, it had dropped off all 3 credit reports. Try some backdoor channels and search to see who has had luck and how. This is my story. The accounts were less than $100 combined....

Good Luck!

Please don't post names or other private information (such as email addresses, etc...). You are free to PM the information, however. ~Moderator, LilMirth

Re: NCO Financial - PFD Experiences??

ANAGLE0 — Tue, 09 Nov 2010 21:29:27 GMT

I had a success with GW because I tried to pay my account right after it was sent and the CEO deleted my account from CRA. I will get email from home later and send it to you PM.

Re: NCO Financial - PFD Experiences??

Anonymous — Tue, 09 Nov 2010 23:26:55 GMT

If you would'nt mind...I could use that email addy as well. Thanks.

Re: NCO Financial - PFD Experiences??

chrisjitsu — Tue, 23 Nov 2010 00:44:36 GMT

Hi, could have that email address too? Thanks!

Re: NCO Financial - PFD Experiences??

chasmith — Tue, 23 Nov 2010 12:02:34 GMT

Please PM the address to me as well...

Re: NCO Financial - PFD Experiences??

notmyj — Tue, 23 Nov 2010 15:31:04 GMT

NCO had 2 accounts on my reports. One was over $1k the other was $30. I DV'ed both accounts and they removed both with out a response. My first contact with any CA is a DV. If they are missing any info and cant validate, then its a bonus for you.

Re: NCO Financial - PFD Experiences??

Anonymous — Mon, 03 Jan 2011 21:00:46 GMT

Can you PM me an e-mail address that is successful as well. I have a few things that are still stinging my credit and I want to PFD them. My student loans will be consolidated soon which will give me an awesome boost as well.

Re: NCO Financial - PFD Experiences??

Anonymous — Tue, 04 Jan 2011 00:35:33 GMT

+1 for opening with a DV letter.

I DV'd NCO on a ~$200 collection on 12/13/2010 and they deleted from all three at the end of December. I have not received any correspondence from them and I don't expect it. Do not offer to pay. My collection was years past the 30 day cutoff and they still deleted. I did a lot of searching before I did it and my experience is pretty standard. Don't waste your money until you're sure they want it.

FYI, for those who want to do the same, I sent a letter to the Horsham, PA address on my report.

Re: NCO Financial - PFD Experiences??

Anonymous — Thu, 06 Jan 2011 19:03:31 GMT

I would love the email address as well

Re: NCO Financial - PFD Experiences??

ShootingStar — Fri, 07 Jan 2011 19:18:05 GMT

@ Booma -- did you include your current address/contact info in your letter? Thanks in advance for the info.

Re: NCO Financial - PFD Experiences??

Anonymous — Sat, 08 Jan 2011 02:07:49 GMT

I included my name, current address and the account number referenced on my CR. I did not provide any additional information other than that.

Re: NCO Financial - PFD Experiences??

RobertEG — Sat, 08 Jan 2011 03:08:12 GMT

I would caution against reliance only on a DV letter,and then waiting to do anything until they "validate." That could be risky, and is not my general recommendation. Sure, send it, but dont see it as a reason to cease further actions.

Unless you are a resident of Texas, the debt collector has no obligation to provide validation at all, let alone within any specic time period. DVs require cessation of active collection until they choose to DV, but certainly does not require any CR deletion if they dont.

Debt validation under FDCPA 809(b) is really not that difficult for a debt collector to provide. For the most part,it is little more than what they originally provided to you in their initial collection (dunning) notice, where they have already provided to you the name of the original creditor, and the amount of the debt. Upon receipt of a DV request, that adds the requirement that they provide you the address of the original creditor, and if you also request it, an itemized view, on their part, of the debt. They dont have to provide documentation, such as their internal business records, agreements with the OC, and certainly not any OC account records, in order to provide validation under FDCPA 809(b).

I know that many report CA deletions after sending a DV, but I would not necessarily conclude from that they could not provide validation. Maybe they felt the SOL had, or was soon to, expire. Maybe they have sold the debt to another debt collector. Maybe the debt is too small for them to continue to put their resources into.

After you send a DV, and decide to just sit back and wait, the debt can continue to accrue interest,and they can still bring legal action. The same thing when you send a PFD offer, and jsut sit back and wait. A PFD is a conditional offer that requires no response at all, let alone even a letter of non-acceptance. Acceptance of any PFD by a creditor or debt collector requires them to directly violate the terms of their reporting agreements with the CRAs not to delete prior accurate reporting based on subsequent payment, and many will simply refuse to grant PFDs (or GWs) for that justifiable reason.

Both the DV and PFD processes have risks. Only you can evaluate the risk. The very first thing I suggest in evaluating that risk is to know your SOL, and thus perhaps take the threat of legal action on their part out of your risk evaluation.

Re: NCO Financial - PFD Experiences??

Anonymous — Mon, 28 Feb 2011 19:26:29 GMT

If someone could also send me the email address, I would really appreciate it.

Re: NCO Financial - PFD Experiences??

Anonymous — Mon, 28 Feb 2011 21:15:04 GMT

These guys are tricky people, and will not hesitate to break the law to collect a debt. I would not pay them a dime. DV, and C&D them, and wait for them to ultimately violate the FDCPA. They will do it every time.

I had all my NCO Financial accounts deleted, and I sued them, and won.

Don't take any beef from CA's.

Re: NCO Financial - PFD Experiences??

sjt — Mon, 28 Feb 2011 23:38:49 GMT

If you get them to PDF dont you still have to deal with the OC as well?

Re: NCO Financial - PFD Experiences??

Anonymous — Tue, 09 Jul 2013 02:24:46 GMT

Can you send me the address please?