Collection Closed without payment...now what?

Discussion in 'Credit Talk' started by Brookie, Aug 21, 2008.

  1. Brookie

    Brookie New Member

    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. greg1045

    greg1045 New Member

    If NCO "closed" it they probably sold it to another collection agency - OR they are in the process of going after you.
     
  3. jjgross

    jjgross New Member

    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.
     
  4. Hedwig

    Hedwig New Member

    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.
     
  5. Brookie

    Brookie New Member

    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.
     
  6. ccbob

    ccbob New Member

    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).
     
  7. Hedwig

    Hedwig New Member

    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.
     
  8. Brookie

    Brookie New Member

    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.
     
  9. Hedwig

    Hedwig New Member

    Who is showing as the creditor?
     
  10. jjgross

    jjgross New Member

    When was the date of your dola why pay twice
     
  11. Brookie

    Brookie New Member

    Bank of America
     
  12. Hedwig

    Hedwig New Member

    Well, then NCO didn't report it.

    BoA is reporting as the original creditor. If a CA or JDB buys the debt, they can also report. So NCO has held up its part of the deal.

    BoA is going to be hard to get rid of, unless you can prove some type of fraud. I'm sure they'll have records for years back and will be able to prove the debt if it ever comes to a lawsuit.
     
  13. jjgross

    jjgross New Member

    Boa,discover,citi.are bulldogs very tough to deal with their records are very accurate and up to date sometimes you just have to bite the bullet and let it fall off.
     

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