Dealing with NCO

[Anonymous]

All right, I got my letter today, turns out NCO bought the debt.

They're showing the total debt as 1140.45, willing to settle for a lump payment of 684.27.

I'm assuming since it is SOLD that cap1 can't pull the debt back, and I'm stuck dealing with NCO.  The letter states I have 45 days to respond to the payment, and 30 days to respond to the validity.

I know this debt belongs to me but it was from a $300 card with Cap1, if I DV them what are my chances of them not having all the proper documentation?  (I'm pretty doubtful of that.)

Does NCO ever work out smaller payment plans?...significantly smaller because I can't afford to drop 685 at once, I could hardly afford to drop 100 a month tbh

If I pay them before that period is up will it stop them from putting it on my CR or will they just report it once I pay it, as a paid collection?

Any advice?

Thanks in Advance

[BlueBayou]

Modern, I posted before, but, it is my experience that you are in the window of opportunity to not get this on your report.  If you DV, most always they report.  If you pay before the 30 days or whatever time frame they gave, most times it's 30 days, they won't report.  Your letter is your proof to CRA's, (if you timely paid), Breach of contract if they report, among other things.   If NCO reports, it will sink your score even more as a new collection. 

I know that it's a no, no to call a CA, however, in this case it's Capital One, a parasite as someone else said.   Maybe someone else can call to see if a payment plan will hold the reporting.

[llecs]

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modernsurrender wrote:

All right, I got my letter today, turns out NCO bought the debt.

They're showing the total debt as 1140.45, willing to settle for a lump payment of 684.27.

I'm assuming since it is SOLD that cap1 can't pull the debt back, and I'm stuck dealing with NCO.  The letter states I have 45 days to respond to the payment, and 30 days to respond to the validity.

I know this debt belongs to me but it was from a $300 card with Cap1, if I DV them what are my chances of them not having all the proper documentation?  (I'm pretty doubtful of that.)

Does NCO ever work out smaller payment plans?...significantly smaller because I can't afford to drop 685 at once, I could hardly afford to drop 100 a month tbh

If I pay them before that period is up will it stop them from putting it on my CR or will they just report it once I pay it, as a paid collection?

Any advice?

Thanks in Advance

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MS, does your CapOne balance read $0? I know you probably mentioned that before.

As you may know, DWs balance dropped to $0 unexpectedly. PFDs to CapOne for the last reported full balance still haven't worked.

NCO was the last to try to collect on that debt in the fall. We did send a DV within the 30-day window and they responded saying they couldn't validate and even apologized for any confusion. Funny thing is that CapOne sent their version of validation to us two weeks prior to NCO contacting us and it was quite comprehensive and legit. I guess NCO didn't want to bother since it wasn't sold yet.

[BlueBayou]

Ilecs,

How old was your Cap One charge off?  And have you noticed if anyone odd has pulled your credit recently? 

I am trying to ward off any additional leeches!!!

[llecs]

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BlueBayou wrote:

Ilecs,

How old was your Cap One charge off?  And have you noticed if anyone odd has pulled your credit recently? 

I am trying to ward off any additional leeches!!!

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Down leeches down!! Bad leech!

DOFD was on 10/2003 for DW's CapOne CO. The org. amt was $646.97 and grew to $762 or so. Lucky there, I know. CapOne did internal collections up through 8/2004. Then it went to.....

NCO on 1/05, Van Ru Corp. on 5/06, back to CapOne on 8/06, then to ARS National Services on 1/07, and finally back to NCO 10/07. We found this site in August and applied the knowledge here in conquering our credit. We sent the DV to NCO where they stopped collections. At the end of February or so CapOne reduced it to $0. We sent PFDs starting in Sept./Oct. with no response. None of these CAs reported, only CapOne.

And yes, we are looking wide eyed at our credit reports. TC is checked everyday and soft pulls are checked monthly. NCO did put a hard inquiry in late September and we knew a dunning letter was coming our way.

[Anonymous]

The Cap1 balance is reporting as $0 and sold.  NCO hasn't done any hard pulls yet.

I know people have had success working with NCO previously but there's not a lot in regards to Cap1 accounts about them.

I can't afford to pay off that settlement offer, I don't want it on my report, but it's looking like that's how it's going to go.  I just can't afford it or I would have taken care of it when Cap1 still had it. 

Sigh bye bye 600 TU lol

[Anonymous]

I used to be a debt collector (worst job ever! Lasted 3 months, I couldn't handle loop-holeing the law the way they do!)  But I can tell you this, try to get them to verify, if they can send a PFD letter once you have all the money.  Most CAs will only work out payment plans for a max of 3 months on the full amount of the debt.  So, if you can't afford this payment don't even try because they will be really nice, tell you it has to be done by auto withdrawal from your bank account.  Once they get your accnt info THEN they will tell you the conditions of the agreement and if you say you can't pay that much, they will attempt to deduct the entire amount from the account # you give them.  NEVER give your bank info out! 

[Anonymous]

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mollysue32 wrote:

I used to be a debt collector (worst job ever! Lasted 3 months, I couldn't handle loop-holeing the law the way they do!)  But I can tell you this, try to get them to verify, if they can send a PFD letter once you have all the money.  Most CAs will only work out payment plans for a max of 3 months on the full amount of the debt.  So, if you can't afford this payment don't even try because they will be really nice, tell you it has to be done by auto withdrawal from your bank account.  Once they get your accnt info THEN they will tell you the conditions of the agreement and if you say you can't pay that much, they will attempt to deduct the entire amount from the account # you give them.  NEVER give your bank info out! 

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Thanks for the inside info.  If you agree to pay 3 monthly payments, then open a separate account, and deposit only the amount of each payment just before its due date.