Internet's first get-out-of-debt community - 122,000 members

Posted: Thu Dec 28, 2006 6:34 pm Subject: Help me please...

I have a credit account on my CR that is reporting as a charge off. On the other hand, I am getting calls and letters from NCO regarding it. I looked on the web and found that the SOL for NC is 3 years on open accounts. Also on my CR, it is showing 30 days late as of OCT 2003, so wouldn't it be out of the SOL in OCT 2006?? If so, will I be able to get it to change anything on my CR or will it still affect my credit?? Also, need help with fixing a letter for NCO to get them to stop harassing me...HELP......

Posted: Thu Dec 28, 2006 6:36 pm Subject:

They may not be able to sue you in court for the debt. But I think it can still stay on your report for 7-10 years.

Posted: Thu Dec 28, 2006 6:39 pm Subject:

MAN, IT'S GREAT TO SEE YOU BACK..I HAVEN'T SEEN YOU ON IN A FEW DAYS...MAYBE I JUST DON'T GET ONLINE WHEN YOU ARE...LOL So, what should I do about the NCO pain in the butt ppl calling me everyday and mailing me letters?? Could you help me put together something that contains the SOL for NC, so I can send it to them??

Posted: Thu Dec 28, 2006 6:54 pm Subject:

Be careful with NCO, natdust. I'm pretty sure I've seen other threads on here about them trying to reopen SOL's and going after accounts that have been charged off. Definitely get a debt validation.

Posted: Thu Dec 28, 2006 6:57 pm Subject:

How do I go about doing that?? They send me letters all of the time, is that a debt validation?? I went in and checked my credit report that just updated yesterday and I saved it. Is there anyway that you could help me with getting something together to send them that lets them know that I am aware of it being out of the SOL??

Posted: Thu Dec 28, 2006 7:10 pm Subject:

I've never actually had to send one myself; but I do know they have to state the name of the company they represent and how much the debt is for. Check out these threads. The first one is for the laws regarding debt validation. The second one has a link regarding NCO and how to deal with them as well as a template debt validation letter. Good luck, natdust. Let us know how it goes.

http://www.debtconsolidationcare/validation.html

http://www.debtconsolidationcare.com/forums/about6873.html

Posted: Fri Dec 29, 2006 7:27 pm Subject:

Thanks for the info...

Posted: Fri Dec 29, 2006 7:53 pm Subject:

Yes, be aware of NCO. I had to pay them off finally and wasn't I glad.

But they can still make comments on your credit report for seven years. After seven years, they cannot pursue you for the debt.

Posted: Fri Dec 29, 2006 8:17 pm Subject:

SOL doesn't have anything to do with credit reporting... the SOL's vary by each state's laws. Credit reports are governed by the FCRA which is a Federal law.

Whether or not a debt is collect-able, it can be reported to the credit bureaus for 7 years from the date of first delinquency.

After that, they can still call you and try to get you to pay. But if you know they can't sue you, then they wouldn't get very far trying to collect.

Posted: Sat Dec 30, 2006 5:08 pm Subject:

Would you let them know that you are aware of it being out of the SOL??

Posted: Sat Dec 30, 2006 5:18 pm Subject:

I may not know about payday loans but I know about this. I work for a collection agency. You can start a dispute with the credit bureaus, they only have 30 days to reply, most don't because they get so many disputes...so at that time the credit bureaus will delete that record. If NCO contacts you just simply tell them you are aware that the statue of limitations is up and are disputing this, as well as letting them know they are in violation of FDCPA and not to contact you anymore.

Posted: Sat Dec 30, 2006 5:20 pm Subject:

Well, the only thing is they are not reporting it. Capital One is still reporting it, I don't know why since NCO has the account. I disputed it today with experian and equifax anyway. Do you think that Capital One will let them delete it since it is past the SOL and they haven't got any pmt since OCT. 2003??

Posted: Sat Dec 30, 2006 5:23 pm Subject:

Yes, what will happen is that Capital one will get the dispute, 9 times out of 10 they wont validate it, if they do look into it they will see that it's way past the SOL and ignore it. If it doesn't work the first time just keep disputing it. Again because they get so many not all of them get validated.

Posted: Sat Dec 30, 2006 5:25 pm Subject:

Gee, you are great. I have heard that Capital One is very hateful when it comes to removing things, is that right?? Well, I am not sure about the SOL thing. On my CR, it says that as of OCT. 2003 the account was 30 days past due. Is that when the SOL started or what??