 Posted: Mon Nov 06, 2006 9:37 am Subject: |
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Hi Mahmoud,
Have you been called by NCO? They are a collection agency and you have to be extremely cautious from them. They were penalized by the FTC in the past for illegal collection practices.
When the original creditor sells off the account, it is marked with a zero balance in your credit copy. Check your latest copy and confirm this fact. You will also know from there which CA is authorized for the collections.
If NCO is collecting for this debt, they must give you the debt validation of this account. Did you get something in your mail that gives out the complete details? Be sure that you are paying to the right company authorized for the collection and they will have to update your file after the account gets paid. Have all communication in writing for your records
The collection agencies usually don't agree for settlement. After verifying all the papers, if you find this CA proposing a settlement, you might have to agree paying 80% of the total amount. I will be very careful of NCO because they misrepresented people's files in the past. They are famous for their illegal collection tactics. You must make sure that you are paying to the right company who will be updating your records.
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IncredibleHelp
Joined: 30 Jun 2006
Posts: 500
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