Received a letter from Cap 1 today re: a charge off from 2000...one they sold to NCO (or so I thought!) who I am trying to get NCO to validate. The text is basically: "...At Cap 1 we want to work with you to help you pay off the outstanding balance on your charged-off credit card account. In fact, we can help you settle this debt today for as little as 50% of the balance. Simply call our solutions team at NCO Financial Systems....." it also says,"Ps..this offer expires on 9/26/03 and is available only by phone." Then in fine print at the bottom it says, "This letter is for informational purposes only. This letter is not a demand for payment or an attempt to collect , asses or recover a claim against you that arose before the commencement of your case." WHAT THE HECK IS THIS??? I thought Cap 1 sold the debt to NCO, the CA. Doesn't that mean they can no longer send me mail like this? Plus, Cap 1 pulled a hard inquiry in May, when NCO sent me a settlement offer letter. About 48 days ago I sent NCO a validation letter...I FINALLY got the green card back 4 days ago. About a week after I sent it, NCO started to call me about 8 times a day, even though in my letter I stated not to. they also never validated the debt, now I get this letter from Cap 1. I am confused! People on the forum said I should sue NCO, but I don't want to go that route. Plus, what does the phrase "that arose before the commencement of your case" mean? What case? I have not filed BK nor have I had judgements against me. I appreciate any words of wisdom any forum members can give, as my brain has melted.
Why not? If more people sued these CA's they would think twice about trying illegal tactics such as this!
So this IS illegal? I need answers... Can Cap 1 send me this letter after they sold the debt to NCO? I've looked an cannot find the answer. Can someone give me a 1-2-3 about what I should do now?
The only advice I have is DON'T PAY THEM!! I did and I am getting screwed. (See my post) I would rather have gone to court.
the letter is there way of getting you to call- by you initiating the call you void your C&D protocol. do not under any circumstance call them also - if you send NCO a C&D then you better document (if you havent already) everytime they call you - each call to you in violation of the C&D is another fine against them. Send an intent to sue letter to NCO and mention all the violations to date - them them you will settle for $3000 of their money plus full deletion of trade line and the so-called debt ends without being transferred to any other collector
I've been writing down when they call, plus it is on my caller id as "NCO Graphics"...do they do that to send you off? We discovered it is NCO becauuse my husband is a graphic artist free-lance and he picked up because he thought it was a client! I have never heard of the original creditor sending you a letter stating you should call the collection agnecy, but I am going to sue NCO!!!!
Also, don't they have to suspend collection activity during validation? Couldn't the calls and the hard be construed as continued collection activity...it's time to sue!
