NCO Financial

[m15giv]

I recieved a call from NCO the other day. I was not at home so they left a message. I called their # from an unknown # to see what's up and thats when I learned about NCO. I immediately hung up after getting what info I could from them. I recently got Capital One removed from my credit report. After Capital One gets no more money, I guess they sell the account to NCO. I checked my CR yesterday and I have nothing on it from NCO. I am sending a Validation letter and Cease and Desist (all in one) to NCO today.

Will the fact that Capital One being deleted from my CR help me to battle NCO?

[94B]

Originally Posted by m15giv

I recieved a call from NCO the other day. I was not at home so they left a message. I called their # from an unknown # to see what's up and thats when I learned about NCO. I immediately hung up after getting what info I could from them. I recently got Capital One removed from my credit report. After Capital One gets no more money, I guess they sell the account to NCO. I checked my CR yesterday and I have nothing on it from NCO. I am sending a Validation letter and Cease and Desist (all in one) to NCO today.

Will the fact that Capital One being deleted from my CR help me to battle NCO?

NCO should send you a letter with information about the debt within 5 days of their first contact with you. Most CA/JDB's don't do this obviously, so sending a DV letter CMRRR is good idea and do not sign it, just type your name. Also keep it short and simple, do not send the long DV letters found all over the internet.

I wouldn't send a total cease and desist though especially if this alleged debt is within the SOL(statute of limitations). Instead I would go with a "limited C&D" to put a halt to the calls and to have communication via mail only.

Is this account out of the legal SOL??

[m15giv]

I don't beleive it is out of the SOL. I read over some of the other entries on the forum before making my next step. Chane had an entry where he stated that "if you truly recieved goods and services, then you should pay them." I then realized that Capital One still had the account as active on their website and I slipped them a minium payment online. I also recall that I did have payment protection on the account and I did loose my job due to involuntary layoff late last year. Talked to the nice lady at payment protection and they are going to allow my benefits to cover, even retro actively. She stated that once Capital One sees this, they usually will forgive a whole bunch of fees and etc. on the accounts. Since I am dealing with the original grantor, they cannot repost the identical account to my CR and NCO is probably mad because they cannot make the money because Capital One is getting their's directly. I think I will send either a DV or CD letter to NCO, just in case.

Any suggestions? was this a strategic move in this chess game?

[m15giv]

Chane, do you have any suggestions? Am I heading down the right road?

[chane]

Have you disputed the NCO account with the credit bureaus?

[m15giv]

Yes. NCO does not appear on my credit report yet, I disputed all derogatory info on my CR. Capital One, the orginal creditor was succesfully removed before I recieved communication from NCO. I immediately sent NCO DV and CD letter.

Chane, your advise is greatly appreciated.

[chane]

Originally Posted by m15giv

Yes. NCO does not appear on my credit report yet, I disputed all derogatory info on my CR. Capital One, the orginal creditor was succesfully removed before I recieved communication from NCO. I immediately sent NCO DV and CD letter.

Chane, your advise is greatly appreciated.

They might not even end up reporting the account on your report. If they do, dispute it. I wouldn't worry too much about them until they end up on your credit report.

[fixbadcredit]

Nco has more problems to worry about, don't send the CD letter, cus that will start the snow ball affect, look up Budhibbs he reports all NCO court problems!

[JPolito830]

Why shouldnt you send the CD Letter to NCO? I would think thats the proper action to take here.

[fixbadcredit]

Originally Posted by JPolito830

Why shouldnt you send the CD Letter to NCO? I would think thats the proper action to take here.

Talking to them now will restart the time line of collections!