i have had an account past due with citizens bank for 3 years i was put away for awhile and was unable to pay it. i owed 538 dollars. well 5 months ago i have been receiving calls from NCO about collecting the debt. i spoke to someone and they offered me a settlement i would pay 1 payment of 50 the fisrts month then 155 the next month then one last payment of 155 and i would be done. well i received a call the last month saying i owe them 418 dollars they said they bought the account and thats what i owe. this is totally unfair. for the past 2 months i have been getting calls from them everyday asking me to pay it and today they were threatning they will bring me to court to get the money. i am only 21 i go to school but for some reason this seems very wrong. i went from paying one last payment of 155 to owing 418?!!!!!! and tonight after 3 years it was put on my credit report. i need advice if anyone can help me. email jaywesson@gmail.com
2007-01-09 13:14:50 · 10 answers · asked by Jason W 1 in Business & Finance ➔ Credit
you should have gotten the name of the person you spoke with and made that agreement. You need to call them, ask to talk with someone in charge and tell them what the situation is. Also, be prepared to fax them any canceled checks or money order receipts you have to verify that you paid
2007-01-09 13:24:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I remember NCO. Watch out, they're notorious for violating the Fair Debt Credit Collection Practises Act.
You can call the original creditor (like if it was a cell phone bill you call the phone co.) and ask if you can offer a set amount (not the full since obviously you can't pay it) and if they agree to send you a written statement saying you closed the account with the acceptance of that payment.
"You should know that in either situation, the Fair Debt Collection Practices Act requires that debt collectors treat you fairly and prohibits certain methods of debt collection. Of course, the law does not erase any legitimate debt you owe."
Before you take any action, call CCC intln. They'll counsel you for free on the first call. Explain to them what NCO is doing to you. They helped me when I had abusive creditors calling me at all hours of the day. Good luck getting this monkey off your back!
2007-01-09 13:37:49 · answer #2 · answered by SloBoMo 5 · 0⤊ 0⤋
did you get this in writing? if you did and you have copy of money orders and checks . go and find a good lawyer. If you did not it is just hear say and there is not much you can do. NCO is known for bad practices like this. I hope that you go this in writing, if you did and they broke you terms you can sue them. They will not bring you to court for 400 bucks, they will even threaten people for 25 bucks. With you making a payment to these jerks resets the SOL and Resets the clock on your credit report. I think in you best interest to tell them i will pay the full amount and you need to delete this whole thing off of your credit report. get in writing before you do anything.
2007-01-09 13:26:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Never make a new promise to pay an old debt. They can not rightfully go after the money after 3 years (like take you to court). They can only ask or try to demand you to pay it. Once you make payment arrangements with them, it renews the debt and they can sue you for the money.
They probably record the calls for proof too.
2007-01-09 14:53:56 · answer #4 · answered by Smart1 3 · 0⤊ 0⤋
If you didn't get your first agreement with the collection agency in writing, they can come after you for the money. They will try to claim that it is fees or interest. Do not send them a single cent until you get an agreement in writing to clear this debt.
You should check out Dave Ramsey. He talks about how to deal with this stuff on his radio show almost daily. On his site, you can listen to his radio show archives any time.
Good luck in dealing with these scumbags.
2007-01-09 13:46:03 · answer #5 · answered by Jen G 5 · 0⤊ 0⤋
The debt collection is not fair. When you buy things on credit you must be responsible for paying your debt. You owe that much probably because of the interest accumulating on your balance. The more you default, the higher your interest is increased. This will go on your credit file the longer you default. In future, do you want to miss an opportunity to buy a home because of this ? Do you want to miss out on a CEO job in future because of this little credit balance marked against your credit file? Just pay your debt, won't you?
2007-01-09 13:25:19 · answer #6 · answered by Muga Wa Kabbz 5 · 0⤊ 2⤋
thats how they get your collection placesgo into your credit account and find people like you to mess with they cant sue you are do anything just forget it your back account will go away after 5- 7 yrs
2007-01-09 13:24:09 · answer #7 · answered by autism_mom43 2 · 0⤊ 0⤋
do not pay it ..... contact or log in on your states legal specialist generals internet website and record a criticism .... do not PAY IT !!! and there is not any regulation that announces you should search for suggestion from from them .... contained in the intervening time flow ahead and deliver them a qualified letter explaining your stance intimately and be sure that you save the recipients signature on record once you get it decrease back from the submit place of work...
2016-12-02 01:48:31 · answer #8 · answered by abigail 4 · 0⤊ 0⤋
blow em off and forget them
what can they do?
how can they collect?
they can only talk talk talk and say..
they can't take nothing...
even a judgment can't be collected..
tell them have a nice day and hang up or just don't answer.
2007-01-09 13:24:52 · answer #9 · answered by cork 7 · 0⤊ 0⤋
http://www.potoukian.com/validation_letters.htm
Send them the above letter.
2007-01-09 13:30:10 · answer #10 · answered by hotmomma 4 · 0⤊ 0⤋