CC Charge off in 2-02. $15k balance CA (NCO) has been tacking on $600 interest to drive up the balance which is currently $22k and pushes me to 140% of my total credit. NCO has changed the the description from charged off to ......Bad debt; placed for collection; skip NCO is reporting that payment is late every month and I am currently 90 days behind. Since the CND....NCO does not correspond with me and I probably haven't seen a letter in about 9-12 months that they were reporting late payments Exp and TU are reporting correctly and my score is 70 points higher. This my one negative and I am sure to their joy lowering my score every month. Anyone else with similar experiences? Do I have a legal case?
Why don't you call FTC and ask them. They fined NCO for "reaging", and NCO is under a consent decree to stop doing it. In addition, they are required to correct their errors, comply with FCRA, and maintain systems to track consumer complaints so that FTC can audit their compliance. Maybe NCO just switched from reaging dates to changing other fields that tell FICO the debt is recent. http://www.ftc.gov/opa/2004/05/ncogroup.htm
Yes....but I want someone's head for this Thanks OnTrack....I just called the FTC and submitted a complaint. I have a copy of my Credit Report from last year that correctly indicates the status. FTC instructed me to send this to the CRA's and they should correct. My scores without this on TU and Exp are mid600....567 on Equifax. I just applied for the company Amex that nobody gets turned down for. Of course they check EQ and this is how I embarrassingly learn of their deceptive practice.
I don't know what the SOL in Texas is, but if it HAS PASSED then I would dispute with the CRA and send a couple of simple letters to NCO disputing the errors and requesting correction. And if they don't correct it, then just sue them and you will be able to settle for deletion of the account and cash. I have sued for this type of reaging and settled for deletion and cash. honeycomb
