Some questions???

How old is the debt account? You may check if they are within the statutes. If the debt is past the SOL, the collection agency cannot take you to the court. But the debt will remain valid and you can make payment arrangements directly with the creditor.

Are you confirmed that NCO has your debt account? They need to validate your debt with proper info from your creditor before you make a payment arrangement.

Do you mean how long has the account been with NCO? I am not sure. Maybe since early 2006. I have not made any contact with them (nco). The only paperwork I have from them is one of those letters that lists the original account #, amount and name of original creditor and to acknowledge the letter within 30 days etc...

I just want to start making payments on these debts but I am SOOO scared to make payments to NCO considering all of the horror stories I have read. Do any creditors let you pay them after the account has gone to a CA?

I am a nervous wreck and just want to clear this up.

thanks!

I also have an account with NCO. The original creditor is Bank of America, and they are letting me pay them instead of NCO. The lady I spoke with @ BOA was very nice and she said that the calls and letters would continue but if I wanted I could still make payments to BOA...

Trying, check the date of last payment done on the account. The SOL begins from that date and your state has duration before it expires. Refer to your state laws.

Keep in mind that a single payment will renew the SOL from the beginning. The CA will get a chance to sue you in the court after the SOL is renewed.

You may be able to pay the original creditor if the debt is not sold to the CA. Contact your creditor and find out if the file is still in their system. You may find a scope and don't need to deal with NCO if the creditor accepts payments directly

If you contact the original creditor they will more than likely let you pay them payments also. Everyone knows how BAD NCO is and they are usually the last CA that your acct will go to. They are rude ppl and they really don't care what you say, all they want is their money..I would try to contact the original creditor if possible...

Trying- Has NCO purchased the debt, or just doing the collection? I,too, would try to work with the original creditor first, if it hasn't been sold. If it has, respond with a debt validation letter to NCo as soon as possible,certified, return receipt. You do need to find out if this debt is still in the sol period. Keep us posted..Karen

You can ask in the DV letter whether they purchased the account from the original creditor as well or merely if the account was placed with them for collection. I understand NCO has a bad reputation and I don't blame you for now wanting to make payments to them. Have you contacted the original creditor about the matter?

"If the debt is past the SOL, the collection agency cannot take you to the court. But the debt will remain valid and you can make payment arrangements directly with the creditor."
If the debt is already past the SOL, is this a good advice to make payment arrangements because it will automatically renew the debt? By the way, does the debt still show on your credit report?

I am going to look into all of what was said in the responses. Thank you so much!

Where can I get the SOL information for my state?

Trying- check this out, it goes state by state http://www.fair-debt-collection.com/SOL-by-State.html#T Good Luck...Karen

Okay so I found them. Thanks to everyone. I am very confused as to what it all means.

****************************************************

Debt instruments issued by banks, Contract under seal: 20 years.

Judgments: 20 Years.

Oral or Written Contracts: 6 Years.

Consumer Protection Actions: 4 Years.

Recovery of Property: 3 Years.

Probate Claims: 1 Year from date of death.

Claims on mortgage notes following foreclosure or on claims junior to a foreclosed mortgage: 2 Years.

If the account was on a credit card, then the written contract (6 years) statute of limitations will most likely apply.

a_neblat had good advice in that making a payment can renew/reaffirm the contract and restart the applicable statute of limitations. So if the SOL is passed, making a payment will give the collection agency/original creditor the ability to use the legal system in its collection efforts.

Thanks, so should I try to negotiate with the original creditor? I can pay a good chunk each month I just dont have all the cash to pay it all at once. I am so frustrated, but I know this is all my fault so I will have to suffer.

I guess I will try to get a validation and go from that. I am in a semi good place right now and I just want to make everything right. Sorry for my rant I am just so mad at myself for this. (and very scared of NCO)

What dat is on your credit report, or if you remember, that you made? If it has been 6years, it is over the SOL period, they cannot take you to court ofr anything over the SOL period. Find out when the last payment was made on the account, whether from the original creditor, or whoever you made payments to.. Good Luck..Karen

Sorry just a few more questions. I also want to thank everyone who responded to me with the great information.

I am now trying to find out who has the debt. If it is NCO I will send the validation letter. If it is in fact NCO, is it totally bad for me to make payments to them? I know they probably wont negotiate with me on arrangements but again I just want to pay the money I owe. If they were to take me to court would that go against me?

If I send them a letter with a payment and they accept payment isn't that them accepting my payment arrangement? (If I specify the payment in the letter)