JUST FOUND YOU ALL.....PLEASE HELP MY WIFE WAS RECENTLY CONTACTED BY NCO "ON BEHALF" OF CAPITAL ONE FOR ACCOUNT PRE-DATING OUR MARRIAGE THAT WE DID NOT REALIZE EXISTED UNTIL RECENTLY (SHE HAD MOVED SEVERAL TIMES AND DOES NOT REMEMBER EVER GETTING STATEMENTS) ORIG AMT APPROX $450(DATE 1997)/ NOW $1100 W/ INT. AND FEES GOT COPIES OF CREDIT REPORTS AND ACCT IS STILL LISTED AS CAP 1: CHARGE OFF(EXPERIAN) BAD DEBT PLACED FOR COLLECTION(EQUIFAX) UPON REFLECTION MY WIFE FELT THE DEBT WAS REAL AND WE WANT TO CLEAR UP BUT DO NOT FEEL WE SHOULD PAY ALL INTEREST AND LATE FEES...UNFORTUNATELY SHE AGREED TO $600 "SETTLEMENT" OVER THE PHONE AND GAVE OUT OUR BANK ACCT INFO AND CHECK# TO BE POSTED AT END OF MONTH(OUCH!!) ARE WE ACTUALLY MAKING THINGS WORSE BY PAYING THIS AMOUNT..ARE WE OPENING OURSELVES UP TO REDATING THE REST OF THE WHOLE AMOUNT WHEN THIS WAS ESSENTIALLY "OLD NEWS" FROM A CREDIT REPORTING STANDPOINT (HERE SCORE WAS MID 700'S) I HAVE PUT STOP PAYMENT ON CHECK AND PLAN TO CALL NCO STATING WE DO NOT "ACCEPT" SETTLEMENT AND WISH TO VALIDATE DEBT OR GET IN WRITING THAT THERE WILL BE DELETION IS THIS THE RIGHT PATH TO TAKE? SHOULD WE CLOSE BANK ACCOUNT?
Fascinating. Hi Booya, Welcome to the board. First, when was the last date in which a pmt. was made on this account, and what state are/was she in? Sounds to me like they are attempting to collect a debt which has expired via the SOL. Which means they can't force you to pay it. On the other hand, meeting our obligations is honorable too. So you did do the right thing to stop it, depending on the answers to the above questions. Here's the deal; a POST SOL debt is worth ZERO! Your offer to pay them ANYTHING is just doing them a favor. You should let them know that you know this too. Offering them $100 in exchange for deletion is more than fair. see? .
thank you for your reply butch how do i go about getting them to assure deletion? is there a letter you would recommend? (what they gave me in writing(via fax) basically stated once check clears it will be considered "settled" and then they will forward info to capital one to update credit report...i read somewhere that it may just cause cap one to update and try to come after the other $500 (is nco actually an agent of capital one?) i have seen too many horror stories on this board that it makes me nervous to deal with the likes of an nco...should i be worried that they will try and debit money from or account even after stop payment...after all they do have our acct # oh...last payment was mar/april '97...current charges must have been shortly after this occured in kansas city(pretty sure missouri but she may have had an address on the kansas side)
Mar / April (May) 2004 should be when the account will fall of the credit report. Determining the SOL for being sued depends on your state. In writing FAX to NCO a validation letter (and follow it up with a copy sent certified mail.) (you; being her) Emphasize that they have NEVER CONTACTED YOU in regards to this matter, and that they have NEVER PROVIDED YOU WITH A NOTICE OF YOUR RIGHTS UNDER FEDERAL LAW. HOWEVER, you are fully invoking all of your rights under Federal Law with respect to this account. Also emphasize that any agreements which you were coerced into making without being properly notified of your rights are nullified. Type her name, and fax it from a third-party which offers faxing services; like a store, pharmacy, etc. To CYA, I would fax and mail certified to BOTH addresses... --- THIS IS THE MAIN ADDRESS --- NCO Financial Systems, Inc. Tracey A. Wild, Senior Vice President 150 Crosspoint Pkwy CrossPoint Business Park Getzville, NY 14068-1602 Phone: (716) 404-2100 Toll Free: (800) 227-4000 Fax: (716) 404-2120 NCO Financial Systems, Inc. Al Zezulinski, Executive Vice President 507 Prudential Rd Horsham, PA 19044-2308 Phone: (215) 441-3822 Fax: (215) 441-3923
