BOFA #532905XXXX Bal: $0 Pay Status: Charge off Loan type : CC Date opened: 12/2005 Account Type: Revolving High Bal: $7,481 REspondsibiliy: Ind Aco**** Cred. Limit: $5,000 Date opend: 6/2002 Past Due: $0 Date Paid: 3/2005 Est date item removed: 2/2012 Remarks: Account closed by consumer ____________ NCO Financial# 1499XXXX Bal: $11,868 Pay Status: Charge Off Loan Type: Factoring company acct Date opend:04/2008 Account Type: Open Account High Bal: $7,482 Responsibility: Ind Account Orig. Creditor: NCO ASGNE of MBNA Past Due: >$11,868< Remark: placed for collection Date placed for collection: 3/2007 Est Date to be removed: 5/2012 I have read this forum for months and I am on the verge of what method to use to dispute or remove accounts. I had an MBNA account and they only had $2000 limit. I got in over my head around 2001 with the account and I tried to work it out with MBNA. I couldnâ??t help it with life and all but I tried. This account has haunted me for years. I need some help resolving it without it reaging and the process starting all over. Whatâ??s the BEST approach considering the time to close on the account? The SOL in Calif is 4 yrs. I have read this forum for months and I am lost on what method to use to correct the accounts. I had an MBNA account and they only had $2000 limit (no, I don't have the paperwork). I got in over my head around 2001 with the account and I tried to work it out with MBNA. I couldnâ??t help it with life and all but I tried. This account has haunted me for years. I need some help resolving it without it reaging and the process starting all over. Whatâ??s the BEST approach considering the time to close on the account? The SOL in Calif is 4 yrs. BOFA #532905XXXX Bal: $0 Pay Status: Charge off Loan type : CC Date opened: 12/2005 Account Type: Revolving High Bal: $7,481 Respondsibiliy: Ind Aco**** Credit Limit: $5,000 Date opend: 6/2002 Past Due: $0 Date Paid: 3/2005 Est date item removed: 2/2012 Remarks: Account closed by consumer ____________ NCO Financial# 1499XXXX Bal: $11,868 Pay Status: Charge Off Loan Type: Factoring company account Date opened:04/2008 Account Type: Open Account High Bal: $7,482 Responsibility: Individual Account Original Creditor: NCO ASGNE of MBNA Past Due: >$11,868< Remark: placed for collection Date placed for collection: 3/2007 Est Date to be removed: 5/2012
Has NCO contacted you at all regarding this debt yet? And do you have the means to pay it off if you wanted to?
Whoa here? Factoring company account? So you entered into an agreement with this company to buy your accounts receivable for cash because you are a large company who sells merchandise on credit to consumers or other companies? Is that correct? If not then anybody telling you they are a factoring company is trying to feed you false and misleading information so that you think that FDCPA don't apply to their illegal actions. Factoring company? Probably not. NCO is the assignee of MBNA who is the original creditor. NCO is not the original creditor Nothing can re-age the debt. Nothing can legally start the process all over again. Do nothing until someone files a lawsuit on you and then defend it properly and you will owe nothing at all. Nothing unusual about that. Just about par for the course. Just lay low and do nothing. That's what I would do
NCO has not contacted me but I am looking to purchase a house within the next 6 months. This report is killing me. I just need to resolve it in a timely manner. I guess I could DV the CA and wait and see what happens. I know this is an old MBNA account from 2001. But the amounts are all wrong. i only had a $2000 limit about 9 years ago. I paid and tried to work with them but they kept tacking on costs until I couldnt keep up. No, i can not pay this amount.
Thanks Bill & Josh for your response. I never entered an agreement with NCO. I just saw it on my CRA. I am trying to get a home through NACA and they need it removed. This account is so old that I dont even remember the specifics. But I know i only had a $2000 limit.
Sounds like a great reason to file a federal lawsuit against NCO to me. I would not mess with them. I would take them to federal court and get rid of it and get paid in the process.
Ok. That seriously scares me to file something with my swallow information. Have I met the FCRA standards to actually do that or do I need more documentation? Have you seen thiscome to bear with less? Thanks in advance for your help.
FCRA? I don't think you can find a viable cause of action to file under FCRA. I think you would have to move to FDCPA. But at this point in time I don't think you have enough to file with FDCPA either. You will have to goad them into a violation in order to have grounds to file suit. I doubt you are going to get them to do it of their own accord. You will most likely have to actively trap them before you can find a cause of action. That can be done too.
