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Who is NCO FIN /22 ?

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goodnatured



Joined: 03 Nov 2007
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Posts: 3235



2257 Magic Points
 
 Posted on Sun Aug 10, 2008 3:20 am  
This is when they are most cooperative.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
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Posts: 3249



1340 Magic Points
 
 Posted on Tue Aug 12, 2008 5:11 pm  
Is cooperative really part of their vocabulary?
 
jenickki



Joined: 12 Aug 2008
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Posts: 8



502 Magic Points
Subject: Who is NCO
 
 Posted on Tue Aug 12, 2008 7:56 pm  
Twisted Evil They are the anti-christ all wrapped up in one. They are a "junk buyer"...very very hard to get rid of. In the process, so I feel your pain. Get a cease and desist letter to them...document and follow up. More than likely they bought your account for pennies on the dollar, and it is way past the SOL, and you might not even own it.

Once again, document everything!!! Trust me...when it comes to court time you will need all your documentation. Oh, don't talk to them..do everything written CYA my friend.
Good Luck
 
erb1953



Joined: 31 Dec 2007
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Posts: 627



-15 Magic Points
 
 Posted on Wed Aug 13, 2008 1:26 am  
I don't think they have a cooperative bone in there body, but I do agree that you should be trying to negotiate what you want before you pay them, that is when you have the most leverage.
 
goodnatured



Joined: 03 Nov 2007
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Posts: 3235



2257 Magic Points
 
 Posted on Wed Aug 13, 2008 3:39 am  
Welcome to the wide world of collections, Lol.
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Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
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Posts: 3249



1340 Magic Points
 
 Posted on Wed Aug 13, 2008 12:28 pm  
Hope you enjoy your stay. Ya know if someone actually had alot of old debt they could form a bogus company and buy their own debt for a couple pennies. Just think it would be profitable if you would buy a $1000 debt for $100 and offer the debtor to pay $200 to be rid of it. I know I would jump at this chance to be rid of collectors and debts. Of course you would have to be taking a big chance the other person would pay.
If i could buy mine at such a discounted rate, I would. Makes you wonder why the OC doesn't get rid of all the over the limit and late fees and offer a person smaller monthly payents. Only thing I can figure is the tax write off must be pretty good for them.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
 
 Posted on Thu Aug 14, 2008 3:20 am  
Yeah then you could report yourself as an awesome person on your own credit report. LOL
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
Shadow133
Guest
Subject: NCO collecting for AM EX
 
 Posted on Thu Aug 14, 2008 3:22 am  
NCO took over my Am Ex bill when I missed two payments. I was on a plan with AM EX but couldn't make it, and they bounced me to NCO. I am still able to pay on AM EX's website, and have been doing so every month. NCO is livid about that, and is demanding 10% of the debt now to get a settlement offer. I owe $2300. Should I continue to pay AM EX? NCO is telling me I could get an Optima card when I pay off the debt. If I don't agree by Friday, she has threatened Asset Investigation and Involumtary Work?? or something like that on my answering machine. What do I do?
 
fireyone



Joined: 26 Feb 2008
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Posts: 3249



1340 Magic Points
 
 Posted on Thu Aug 14, 2008 1:06 pm  
Did you call Am Ex theirselves. his would be the first thing I would do before sending any money or settling with the other company. You do not know who exactly owns this debt. Did Am Ex sell it to NCO. To find out you need to make that call.

Next if they did in fact sell your debt then you need to request debt validation before doing anything. You can send them a letter certified mail. There are samples here that you can use. Most of the time these places can not verify a debt. First things first though...see if Am Ex stills owns this debt.
 
Shadow133
Guest
Subject: NCO for AM EX
 
 Posted on Thu Aug 14, 2008 2:15 pm  
My credit report shows charged off, would that not indicate that AM EX gave it to NCO?
 
goodnatured



Joined: 03 Nov 2007
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Posts: 3235



2257 Magic Points
 
 Posted on Fri Aug 15, 2008 9:50 am  
That means the original creditor charged the debt off and is no longer going to collect it. The collection agency (NCO) probably purchased the debt and will now try to collect it and recover their money and a profit.

if they contact you, please make sure that you do a debt validation, you can find out how to do that here.

If you are seeing them on your credit report, you can do the debt validation process also.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3249



1340 Magic Points
 
 Posted on Fri Aug 15, 2008 11:41 am  
I always try to stress that debt validation on here yself. I knew nothing about it till I came here to visit. I could have very easily had paid a debt without validating it. I wonder what happens when the OC sells teh debt and then a collector purchases it and can not validate it. Are they out of the few pennies per dollar they paid for it?
 
Justin

Justin

Joined: 17 Jul 2006
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Posts: 534



13649 Magic Points
 
 Posted on Fri Aug 15, 2008 12:13 pm  
Hi Shadow
If the name NCO appears in your credit report, then your creditor must have sold it to NCO. Charge off does not necessarily mean that you are exempted from paying the debt. In fact you are fully liable for the debt and the creditor or the collection agency (in your case the NCO) can even sue you to the court till the time the SOL in your state expires.
_________________
Best Wishes
Justin
 
anthony

anthony

Joined: 31 Jul 2006
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Posts: 533



13296 Magic Points
 
 Posted on Fri Aug 15, 2008 12:31 pm  
Justin is right. All that you need to do is to contact the collection agency and try to settle your debt. Try to come to a repayment agreement with the collection agency and ask them to change the status on your report from "charged off" to "paid as agreed" once you pay off your dues. You cannot get the charge off listing totally removed from your credit report by PFD agreement. This is because once your account is charged off, it stays on your credit report for seven years.
_________________
Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
You can also visit my blog
http://financewatchonline.blogspot.com
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
 
 Posted on Fri Aug 15, 2008 11:17 pm  
If I had it to do all over again, I can honestly say that I don't know if I would have paid a dime towards them. I paid off three accounts and they say paid in full, but they are still under the negative side of my credit report, I would not have paid them if I knew that it would not have mattered anyway. What is the point of paying it, it does not help your report at all and it sure don't do anything with your score that is for sure.
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Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
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