Ok, I posted about this a couple of days ago, but I have an update and need to know where to go from here. History: Jan 2001....had a conversation with MBNA rep about settling my two overdue MBNA accts. Decided to do reduced payment plan on one acct. Was told I would get a call back about what can be offered for settlement on second acct. Feb 2001.....had not receive further settlement options from MBNA (was told twice that they would call back)....sent small "token" payment (all I could offord, much below min required) March 2001....made a settlement offer and it was "accepted" to be paid in 3 installments. Asked for settlement in writing to be able to begin paying April 2, 2001.....got a letter from MBNA saying my acct was going to be charged off as bad debt on 4/15/01. I immediately sent a letter reminding them of the settlement and asked for confirmation so I could send first payment. April 16, 2001....get collection letter from NCO. April 2001-Oct. 2002.....sent NUMEROUS letters to MBNA AND NCO. No reponse from either one (here is where you will cringe....I knew NOTHING about this process and did not send anything certified...just reg mail. Oct 2001...PFB MBNA...this time a response saying nothing we can do for you, NCO has your acct. I write NCO again....nothing!! Nov 2001....start to learn more about this whole process and order credit reports....MBNA says CO $0 balance....NCO says Collections $6747.91 balance. Both pulled 3 hard inquiries in past 8 months. Jan 2002.....found creditnet (thank you, Lord!!!)...dispute NCO and MBNA listing as well as the inquiries....NCO deleted, inquiries deleted...MBNA verified and left unchanged. Feb 2002....PFB MBNA after getting dispute results. Still steaming so I called MBNA. I was told again...we can do nothing for you...call NCO. I called NCO 10 mins later and was told that my acct had been given back to MBNA in Oct!!!!! Called MBNA right back....was told no, MBNA NEVER buys debts back, but will check into it and call back...no call for 2 days, I called and was told they would let me know in 48 hours...that was over 2 weeks ago! TODAY....just got my mail...letter from MBNA: "This letter is in response to your correspondence received on Feb 26, 2002. In your letter you inquired as to whom is currently servicing the above referenced MasterCard account. You account was charged off as a bad debt on May 6, 2001, and sold to NCO Financial with a balance of $6747.91. Since MBNA no longer owns or services your account, please address all future inquiries to their office. Additionally, MBNA has previously responded to your concerns. In October 2001, MBNA provided you with the account information necessary to support our position. Additionally, MBNA has thoroughly researched your concerns and considers this a closed matter. Enclosed for your review is a coy of the letter previously sent" (this letter, BTW, says they charged it off in April because they had not heard from me until May) Sincerely, Evil MBNA Personal Banking Officer 20 min ago....I called the phone number that they gave me for NCO and I got an answering machine for a professor on a college campus!!!!!!!!!! Yes, you read that correctly!!!! I decided not to leave him a message. ;-) So, if you are STILL reading this....PLEASE help me with my next move!!! I don't know what to do and I am SOOOOO sick of MBNA and their lying. I really need some direction here! It just kills me that, here is a situation where someone is saying I will pay the money and no one will talk to me!!! Thank you!!! Gillian
Lizardking, Thank you so much for answering. I am just beside myself! You have it correct...NCO tells me it is not theirs, MBNA tells me it is. Neither will talk to me. I have disputed it once and just disputed it again about 20 days ago (it is still showing as in dispute). Questions for you....I am assuming it will come back verified again. What then? Dispute again? How long can I continue to dispute? Will the CRAs, at some point say, it has been verified...stop disputing? The problem is...I want to try to get a mortgage this summer (and I KNOW that MBNA knows this since they pulled a hard AFTER a mortgage company had pulled one). I will have to take care of this SOMEHOW before this summer. Thanks again, Gillian
Continuing disputing and build your paper trail.. make sure everything is sent CRRR. Also, try and get letters from both MBNA and NCO saying they don't 'OWN" the debt.. so you can use this against the CRA's if need be later when you sue.
Gillian, Have you disputed the hard inquiries? They have no business pulling a hard since they CO the account; they won't be able to show proof of an application or anything else that could warrant a hard. Since MBNA disavowed this debt in writing, perhaps you should write to NCO requesting proof that they sold the debt back to MBNA.
Rina, Yes, I did dispute the hards. NCO's were removed, but, boy does it just frost my cookies that they did it in the first place!!! I supposed I could try to get something in writing from NCO about not owning the debt. I won't hold my breath, however. They did not respond to one of my letters!! Thanks, G
I would write your story to the Better Business Bureau, filing a complaint against NCO. That way, there's more documentation. NCO is very receptive to the BBB, by the way. They completely expunged a fake-o debt claim from their records for a relative once we got the BBB involved.
Ibrown59, You are, of course, correct!! I DON'T know that they really have verified it. I could go that angle next. However, it is mine...I have never denied that. Thanks for your comment....something else to think about! G
GILLIAN; I AM GOING THROUGH THE SAME THING WITH THE EXACT TWO COMPANIES.I WAS ALSO CO'D ALMOST SEVEN YEARS AGO AND LAST YEAR NCO TRIED TO SAY THAT SINCE THEY JUST ACQUIRED THE DEBT THAT THEY COULD START THE CLOCK AS IF IT WERE A NEW DEBT. THEY ARE ALL A BUNCH OF CROOKS AND NEED TO TAKE A FLYING LEAP. THEY ARE NOW TELL THE CREDIT BUREAUS THAT THE DEBT WAS CO'D IN 2001 INSTEAD OF 1995 WHICH IS WHEN IT WAS CO'D. I'M GOING TO FIGHT THEM UNTIL THE END FOR ONE PLAIN AND SIMPLE REASON, THE LAW FOR ONCE IS ON MY SIDE! GOOD LUCK; JOE
