topic Re: NCB strategy in Rebuilding Your Credit

NCB strategy

seanf12 — Wed, 19 Aug 2020 14:21:30 GMT

I have a CA with NCB that I had entered into a monthly payment arrangement with about 8 months ago. Next week I will have the ability to pay the remaining balance in full ($2800), however I was going to try and negotiate a settlement. I have to purchase a vehicle in the next few weeks and am trying to find the best way to handle from a reporting standpoint. Has anyone had any success negotiating a settlement with NCB while getting them to remove the account from your CR?

Thanks!

Re: NCB strategy

FireMedic1 — Wed, 19 Aug 2020 20:44:53 GMT

Using the search bar above. There were 4 threads started on the same CA and situation as yours. None got replies. Never heard of them. Since you set up payment arraigements it may be a tad sticky to try and settle the balance. call and try. cant hurt. Good Luck!

Re: NCB strategy

Anonymous — Thu, 20 Aug 2020 01:26:11 GMT

@seanf12 Can you confirm the full name of this collection agency?

Is it NCB management? Do you have any chargeoffs with Bank of America? I believe they have an in-house collection agency that goes by that name.

When you entered the agreement, did they mention deleting the collection?

Chances are that you may be able to settle. If they won't delete, I don't see the harm in settling.

Whether you pay in full and especially if you settle it may take a reporting cycle or two for everything to settle (when you settle a collection, they first update your report to show the initial payment, the following report the remaining balance is updated to 0).

Keep what I mentioned above in mind, also remember that your auto scores have a bias for your previous auto loan payment history (puts more of an emphasis on your previous car loan payment history).

Re: NCB strategy

seanf12 — Thu, 20 Aug 2020 13:48:11 GMT

@Anonymous Yep, this is for NCB Management Services. The OC was Rise. When I entered the agreement there was no mention of deleting the account once paid in full. So sounds like my best option would be to ask what it would take to delete the account from my CR, and if there is no option then I'll try to negotiate a settlement?

Thanks!

Re: NCB strategy

Anonymous — Fri, 21 Aug 2020 03:43:43 GMT

@seanf12 I did some research and it looks like NCB does pfd so you should be able to negotiate a deletion. I think the best play is to reach out to them and inform them that you would like to settle the account today in exchange for pfd.

Based on the remaining amount, target a number and let them counter.

Don't be surprised if the discount isn't great because you are already on a payment plan.

Also ask for a confirmation email or letter on company letterhead once you reach the agreement.

Its worth it to them to settle for a lump sum over waiting out the payment plan.

Good luck, apologies for posting incorrect info earlier. They handled my BOA co before BOA withdrew collection authority.

Re: NCB strategy

seanf12 — Sun, 23 Aug 2020 20:04:29 GMT

No problem, thanks for your help! From a negotiating standpoint, if they counter my offer and say the only way they will delete is if I PIF, should I push the issue or just PIF and be done with it?

Re: NCB strategy

Anonymous — Sun, 23 Aug 2020 20:55:27 GMT

@seanf12 wrote:
No problem, thanks for your help! From a negotiating standpoint, if they counter my offer and say the only way they will delete is if I PIF, should I push the issue or just PIF and be done with it?

I had a small debt with NCB and the frontline CSRs will refuse you PFD. I had to work my way up to a manger/director to get the "ok" for a PFD and it was definitely PIF here and now. And it was PIF and PFD or settle (and settle was like for 97% of the debt, like as in pay 97% of the balance).

Re: NCB strategy

seanf12 — Sun, 23 Aug 2020 21:05:36 GMT

Thanks! What steps did you take to work your way up the chain to a manager? Should I just ask my rep right out of the gate to talk to a manager?

Re: NCB strategy

seanf12 — Sun, 23 Aug 2020 21:06:42 GMT

Thanks! What steps did you take to work your way up the chain to a manager? Should I just ask my rep right out of the gate to talk to a manager

Re: NCB strategy

Anonymous — Sun, 23 Aug 2020 21:17:05 GMT

@seanf12 wrote:
Thanks! What steps did you take to work your way up the chain to a manager? Should I just ask my rep right out of the gate to talk to a manager

I did try talking to the CSR and even she said that she was not going to "insult" me with the settlement offer because it was worthless and to be branded with the "settled for less tham full balance" remark on my CRs.

When she said no-go, I asked for a supervisor/manager. She pushed back saying it would be the same thing, but I persisted, and got a manger. The manager was willing to PFD for PIF.

My inly issue was that it was the end of day and the computers went down, so they were unable to process my payment and I called back several times and left several messages for this "manager". Never got a call back and balance is still unpaid after several months of try to get back in contact. I need to start the process over again and hope it is as smooth as the first time.

Make sure it gets paid when you negotiate it, no matter how long the wait!

Good luck!

Re: NCB strategy

Datx — Mon, 24 Aug 2020 22:43:00 GMT

I recently had a PFD with them. The collection rep that was assigned to my account told me at first that they don't offer PFDs any longer, and at one point they would do it, but the collection had to be paid in full. But he checked with a supevisor anyway, and after a couple of days of phone tag, I spoke to a supervisor who would agree to do it, but would not agree do put it in writing. Everything that I learned about collection accounts and how to handle them told me not to do it, but I took his word for it. I also just wanted to pay it off and get it over with. So we arranged a payment date to for the balance to be PIF and he told me it would first update to a $0 balance, but then will be deleted in 30-45 days. After waiting a bit more than 45 days, and without it being deleted from my CRs. I sent a reminder email to him on the agreement, and now the collection is gone from my CRs.

I also want to add that I wish more collection agencies would do business like NCB Managment. From the collection rep that was assigned to my account and the supervisor that I spoke to, they were professional and seem like they really wanted to help. They never really tried to threathen me at all. Would be easier to deal with collection agencies if they would just seem to want to help and treat people with some respect.

Re: NCB strategy

Anonymous — Mon, 24 Aug 2020 23:01:44 GMT

@Datx wrote:
I recently had a PFD with them. The collection rep that was assigned to my account told me at first that they don't offer PFDs any longer, and at one point they would do it, but the collection had to be paid in full. But he checked with a supevisor anyway, and after a couple of days of phone tag, I spoke to a supervisor who would agree to do it, but would not agree do put it in writing. Everything that I learned about collection accounts and how to handle them told me not to do it, but I took his word for it. I also just wanted to pay it off and get it over with. So we arranged a payment date to for the balance to be PIF and he told me it would first update to a $0 balance, but then will be deleted in 30-45 days. After waiting a bit more than 45 days, and without it being deleted from my CRs. I sent a reminder email to him on the agreement, and now the collection is gone from my CRs.

I also want to add that I wish more collection agencies would do business like NCB Managment. From the collection rep that was assigned to my account and the supervisor that I spoke to, they were professional and seem like they really wanted to help. They never really tried to threathen me at all. Would be easier to deal with collection agencies if they would just seem to want to help and treat people with some respect.

That is awesome!

Exact same process I had, but the payment system went down and I was never able to get ahold of the manager again. I spoke to his secretary and left countless messages, but he never returned my calls or was available to speak to. I tried for months after the initial agreement and the frontline CSRs said since I made an arrangement with the manager that I needed to follow through with him. Bummer.

At this point I may just let it fall off my CRs in 10 months (along with the CO tied to it)!

I will try again and maybe just start from scratch with another manager to get the same deal. I would prefer it gone, but my rebuild still has another 18 months to go, so either way it is a win in the end because I really won't see a score gain until the other baddies are gone too.

Congrats! I hope it gave you a nice score bump!

Re: NCB strategy

Datx — Tue, 25 Aug 2020 00:52:37 GMT

@Anonymous wrote:
@Datx wrote:
I recently had a PFD with them. The collection rep that was assigned to my account told me at first that they don't offer PFDs any longer, and at one point they would do it, but the collection had to be paid in full. But he checked with a supevisor anyway, and after a couple of days of phone tag, I spoke to a supervisor who would agree to do it, but would not agree do put it in writing. Everything that I learned about collection accounts and how to handle them told me not to do it, but I took his word for it. I also just wanted to pay it off and get it over with. So we arranged a payment date to for the balance to be PIF and he told me it would first update to a $0 balance, but then will be deleted in 30-45 days. After waiting a bit more than 45 days, and without it being deleted from my CRs. I sent a reminder email to him on the agreement, and now the collection is gone from my CRs.

I also want to add that I wish more collection agencies would do business like NCB Managment. From the collection rep that was assigned to my account and the supervisor that I spoke to, they were professional and seem like they really wanted to help. They never really tried to threathen me at all. Would be easier to deal with collection agencies if they would just seem to want to help and treat people with some respect.
That is awesome!

Exact same process I had, but the payment system went down and I was never able to get ahold of the manager again. I spoke to his secretary and left countless messages, but he never returned my calls or was available to speak to. I tried for months after the initial agreement and the frontline CSRs said since I made an arrangement with the manager that I needed to follow through with him. Bummer.

At this point I may just let it fall off my CRs in 10 months (along with the CO tied to it)!

I will try again and maybe just start from scratch with another manager to get the same deal. I would prefer it gone, but my rebuild still has another 18 months to go, so either way it is a win in the end because I really won't see a score gain until the other baddies are gone too.

Congrats! I hope it gave you a nice score bump!

Thanks! I am not too sure on your situation. Sounds like a good idea to just let it fall off it's only 11 months away, it probably is not impacting your score too much if it has aged that long already. But if you would rather get it off now and not have to worry it popping up again with another CA buying the debt and trying to collect, then maybe it would be better to work with NCB on it. My score did have a nice bump since my collection was more recent.

Re: NCB strategy

MrBEW — Sun, 18 Apr 2021 17:48:53 GMT

@Datx wrote:
@Anonymous wrote:
@Datx wrote:
I recently had a PFD with them. The collection rep that was assigned to my account told me at first that they don't offer PFDs any longer, and at one point they would do it, but the collection had to be paid in full. But he checked with a supevisor anyway, and after a couple of days of phone tag, I spoke to a supervisor who would agree to do it, but would not agree do put it in writing. Everything that I learned about collection accounts and how to handle them told me not to do it, but I took his word for it. I also just wanted to pay it off and get it over with. So we arranged a payment date to for the balance to be PIF and he told me it would first update to a $0 balance, but then will be deleted in 30-45 days. After waiting a bit more than 45 days, and without it being deleted from my CRs. I sent a reminder email to him on the agreement, and now the collection is gone from my CRs.

I also want to add that I wish more collection agencies would do business like NCB Managment. From the collection rep that was assigned to my account and the supervisor that I spoke to, they were professional and seem like they really wanted to help. They never really tried to threathen me at all. Would be easier to deal with collection agencies if they would just seem to want to help and treat people with some respect.
That is awesome!

Exact same process I had, but the payment system went down and I was never able to get ahold of the manager again. I spoke to his secretary and left countless messages, but he never returned my calls or was available to speak to. I tried for months after the initial agreement and the frontline CSRs said since I made an arrangement with the manager that I needed to follow through with him. Bummer.

At this point I may just let it fall off my CRs in 10 months (along with the CO tied to it)!

I will try again and maybe just start from scratch with another manager to get the same deal. I would prefer it gone, but my rebuild still has another 18 months to go, so either way it is a win in the end because I really won't see a score gain until the other baddies are gone too.

Congrats! I hope it gave you a nice score bump!
Thanks! I am not too sure on your situation. Sounds like a good idea to just let it fall off it's only 11 months away, it probably is not impacting your score too much if it has aged that long already. But if you would rather get it off now and not have to worry it popping up again with another CA buying the debt and trying to collect, then maybe it would be better to work with NCB on it. My score did have a nice bump since my collection was more recent.

@Datx I am in the process of settling a $3,997 debt assigned to NCB. Did you PIF or did NCB honor the PDF they aggreed to? They offered me a settlement, but I would prefer to settle with deletion. I read that some have had success getting accounts deleted without PIF. Was curious if this was your resolutuion as well.

Re: NCB strategy

seanf12 — Mon, 19 Apr 2021 15:06:12 GMT

Unfortunately no, NCB refused to do a PFD, even after I talked to a supervisor (allegedly). I will say though that I did settle for a lesser amount so it's possible if I had did a PIF I would have had more luck in getting a PFD

Re: NCB strategy

MrBEW — Sat, 24 Apr 2021 04:49:25 GMT

Thanks for the info!

Re: NCB strategy

Anonymous — Sat, 24 Apr 2021 06:18:38 GMT

@MrBEW NCB agreed to PFD via a supervisor (frontline CSRs were adamant it was not a thing), but I did have to PIF. I didn't even bother negotiating a lower amount/settlement since the balance was $337. I did have to be a little persuasive (like, "you want to get paid and make money off this investment and I want this off my credit reports", etc).

Re: NCB strategy

MrBEW — Sat, 24 Apr 2021 07:03:41 GMT

Thank you for the info. My plan is to call them on this coming Monday and negotiate a settlement. I'm hoping I can get a PDF without PIF. Rumor has it, CAs are be more flexible towards the end of the month (Monthly Closing of Books).....we shall see.