am in a real bind, i have a court date for feb. 13 with an NCO group. they are suing for 5700. In august of last year they sent out a notice stating i owe that amount of money for capital 1. I send out a validation letter certified and i never got anything, i sent another one out and still nothing. I looked up my credit report it showed a capital 1 account charged off in june of 2002 at 2904. dose not show anything from NCO... i live in iowa... all of the certified letters showed that they were recived
2007-01-12 08:41:36 · 7 answers · asked by jen t 1 in Business & Finance ➔ Credit
Adding my 2 cents ...
It sounds like NCO bought the account from Capitol at a discount of $2904. That did not releive you of the debt it just means that you owe someone else plus whatever the interest rate is that you agreed to on the credit card.
Having said that.....
NCO should have responded to your letters - especially if you requested documentation and verification of the debt. If they didn't then when you go to court you simply tell that to the judge and show him/her copies of the letters. Better still, find out about the federal laws and also laws that govern collections in Iowa and be prepared to show the judge the citiation which NCO has failed to comply with. Judges do not always have those laws handy and being able to provide it as evidence or a citation will get them off that hook and on to your side. That will pretty much nail it for you.
There may even be a silver lining......
With a little bit of a twist, you also have time to file a countersuit against NCO if the law allows you to collect damages for their failure to follow the correct protocol. You can also request the judge to order them to restore your credit rating AND to include a copy of the judgement on your report.
BUT .. you need to do your research and act quickly. Do not procrastinate because there are specific timelines here... you snooze you lose.
good luck
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2007-01-12 09:06:58 · answer #1 · answered by ca_surveyor 7 · 0⤊ 0⤋
Much more information is needed to get you a clear answer. First of all NCO most likely represents Capitol one. If not they purchased the rights to the debt, which means yes, you owe NCO. Now the tricky part, if you sent the validation letter to NCO within 30 days of the 1st contact from them and they did not comply, you got a good chance of contesting the case based on what is called the "mini Miranda" verbage required by the Law. If you didn't send it within that time, well you are pretty much out of luck and the burdon on proof is on you. I guess the bottom line is this, do you owe the money? If you do you either have to make arrangments to pay them, get garnished of up to 25% of your salary every paycheck, or seek possible bankruptcy protection through an attorney. Good luck.
2007-01-12 16:51:28 · answer #2 · answered by lubosfan 2 · 0⤊ 0⤋
First, make sure you read your court notice carefully. Most are designed where if you don't respond within X time, NCO gets a default judgment against you. Which is just painful. So make sure you respond.
And if you can show the courts that you did what you were supposed to do, requesting validation of the debts, and they didn't comply, they'll probably throw NCO out of the court.
Or maybe you can talk to your state's commerce division, or whichever agency regulates collection agencies. They are all regulated and licensed. And if they are not responding to legal requests you have sent, they could be held liable or even sanctioned or lose their license to collect in IA. They take this stuff seriously, especially if you have all your documentation in order.
2007-01-12 16:47:08 · answer #3 · answered by Anonymous · 2⤊ 0⤋
You are not really clear in your question but I am going to say If you signed for registered letters accepting them, and on opening it realized it was not yours you should have taken action right then. If It is not yours and shows a charge off on your credit report, then why are you going to court. Get copys of your credit reports from the Three major companies, and make sure you have them when you go to court. Being certified in the laws of Collection I will assure you that the Courts are usually in favor of the Debtor instead of the Collector. This is not what most people think but In most States in the US the debtor is usually the winner in court.
2007-01-12 16:51:05 · answer #4 · answered by H. D. Girl 2 · 0⤊ 0⤋
Take all records to court, including credit report. If you have copies of validation letter and records showing that these letters were received, take them. If these are the same accounts, it may be that the account was charged off because it was sold to a collection agency. In good faith you should pay. If the account was charged off, and sold to a collection agency, they are just trying to collect. I think when it goes to court, if you have proof that it is charged off and you never got a validation of debt, then NCO is screwed. Good luck
2007-01-12 16:47:03 · answer #5 · answered by Anonymous · 0⤊ 0⤋
get an attoney. in iowa they can garnish your wages. if you owe it, the court will order your wages garnished.
2007-01-12 16:45:21 · answer #6 · answered by Blunt Honesty 7 · 0⤊ 0⤋
you owe then Y not pay them, now they are going to take half of you check and probaly make you sell you house to pay that!!!!! bo hooo
2007-01-12 16:46:17 · answer #7 · answered by Dan P 1 · 0⤊ 0⤋