Page 1 of 2 1 2 LastLast
Results 1 to 10 of 13
  1. #1
    Brookie is offline Newbie
    Join Date
    Aug 2008
    Posts
    4

    Collection Closed without payment...now what?

    I recently sent a validation letter to NCO Financial Systems, the collection agency assigned to an old defaulted card. They did respond - however, they stated that my account had been closed, and that they did not make a report to any credit bureau. They directed me to contact the credit card agency.

    Now what? Do I send a validation letter to the originating credit card company? I really want to get this cleared up and off my credit report.

    Thanks for your responses!

  2.  
  3. #2
    greg1045 is offline Senior Member
    Join Date
    Aug 2007
    Posts
    881
    If NCO "closed" it they probably sold it to another collection agency - OR they are in the process of going after you.

  4. #3
    jjgross is offline Senior Member
    Join Date
    Jun 2008
    Location
    tulare ca.
    Posts
    1,291
    Quote Originally Posted by greg1045 View Post
    If NCO "closed" it they probably sold it to another collection agency - OR they are in the process of going after you.
    Never believe anything a collection tells you.There the kid that can't tell the the truth ever,ever,ever.Unless it's in writing and you can understand their intentions,you could have a few problems down the road.I forgot did you check your credit report.
    jjgross* The answer my friend is written on the wind

  5. #4
    Hedwig is offline Senior Member
    Join Date
    Jan 2003
    Posts
    4,928
    They probably couldn't validate, so they have either returned it to the original creditor or sold it to someone else.

    They said they weren't going to report, which to me means that they know they can't validate.

    If that's the case they won't come after you. If another agency does, send them a validation. The same thing may happen again, because they bought the debt without the backup paperwork.
    The Answer is 42!!

  6. #5
    Brookie is offline Newbie
    Join Date
    Aug 2008
    Posts
    4
    Sorry if I wasn't clear earlier - I did check my credit report, and this default HAS been reported - despite NCO saying that they were not the ones to report it. So, I am assuming the credit ard company did? Should I send a validation letter to the credit card company? I have not been contacted from any other collection agencies, but want to get it off my report.

  7. #6
    ccbob is offline Senior Member
    Join Date
    Feb 2007
    Posts
    1,157
    If NCO had reported it, it would show up as a collection account under their name. If the OC reported it, it would show up as a revolving account under the OC's name. And, if you're in default, then it will show up as xx days late, in default, or some other derogatory notation.

    If the OC is reporting it, it could be a tough one to get off your account without paying them off. If you want to pay them off, try to negotiate removal (or rather non-reporting) as part of the deal. They can't really take it off, but they can "not respond" to a dispute in which case it will fall off (i.e. the CRA will have to remove it).

  8. #7
    Hedwig is offline Senior Member
    Join Date
    Jan 2003
    Posts
    4,928
    The OC doesn't have to validate--a CA or JDB does.

    Who, exactly, is reporting? If it's NCO, dispute it with the CRAs. They probably won't verify and it will be deleted.
    The Answer is 42!!

  9. #8
    Brookie is offline Newbie
    Join Date
    Aug 2008
    Posts
    4
    It is showing up on my credit report as a Revolving Account, and the Status is "Collection Account", listed under the credit card company. It is listed under Activity as 'Paid and Closed' (by NCO, I assume) Therefore, there is no "amount due'. Can I still pay it off with the cedit card company? The information it is giving me is as follows:

    Current Status: Collection

    Balance: $0

    Actual Payment Amount: $0

    Comments:

    Customer disputes this account information
    Paid collection.

  10. #9
    Hedwig is offline Senior Member
    Join Date
    Jan 2003
    Posts
    4,928
    Who is showing as the creditor?
    The Answer is 42!!

  11. #10
    jjgross is offline Senior Member
    Join Date
    Jun 2008
    Location
    tulare ca.
    Posts
    1,291
    Quote Originally Posted by Brookie View Post
    It is showing up on my credit report as a Revolving Account, and the Status is "Collection Account", listed under the credit card company. It is listed under Activity as 'Paid and Closed' (by NCO, I assume) Therefore, there is no "amount due'. Can I still pay it off with the cedit card company? The information it is giving me is as follows:

    Current Status: Collection

    Balance: $0

    Actual Payment Amount: $0

    Comments:

    Customer disputes this account information
    Paid collection.
    When was the date of your dola why pay twice
    jjgross* The answer my friend is written on the wind

Page 1 of 2 1 2 LastLast

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Sign up for the Creditnet email newsletter.

Creditnet - Find the right credit card for you Best Airline Cards Best Gas and Groceries Cards Balance Transfer CreditNet Best Credit Cards for Building Credit

Find a
Credit Card

Research, compare, & apply

Bad Credit

0% Interest

Cash Back

No Annual Fee

search

Perusahaan Outsourcing Bekasi

Outsourcing Tenaga Kerja