nco & capital one

Maybe CapitalOne is giving them OK to settle @ 50%... I had a credit card offering to settle at at about 45% right after they sent it to collections.

If you figure, eventually they would end up selling it to a JDB for about 5%, so if they can settle at 50% now then they'll be making more off it than later.

NCO will send a couple of those offers before they sell it to another CA. And just remember that interest keeps adding on to the amount owed. Mine went through a couple CA's now I have a lawyer sending me offers to settle (they want $1900 on a $200 card :shock: ) and it is coming up on the 4 year mark on mine so soon the sol will run out :)

how does nco sell it again if they say capital one owns it?

Sometimes CA's work for a creditor; sometimes CA's buy up the old debts. I don't think NCO actually buys old debts, I may be wrong.

But, if NCO can't get you to pay then capital one can pull the file back from them and sell it to another junk debt buyer. It may pass through 4 or 5 CA's hands before one of them decides to sue over it.

Most likely at that point after it's changed hands that many times chain of custody will be so borked up that validation will be almost impossible. Which is just stupid that they don't include that documentation in the portfolio. If I owned a JDB CA I would be sure to get validating documents with all my accounts. But oh wait. We'll discuss this in my other thread: Maxed Out

puddle...just read your post and that's scary very scary that that kind of interest can be tacked on!! I had no idea they could do that..that just doesn't seem right to me that they just keep adding interest and that kind of debt seems in the suable category. i have an account (from a retail card) that went from $30 to $169 and stayed at the $169 amount, no more has been added to it, thankfully. the same CA has been after that now for about 2 months...i really hope that they don't add any more to the amount than that...am dealing with this situation now

They can keep on adding interest that the credit card company was charging. But I had been fighting capitol one for a long time on my balance because it was over the limit but that was due to them posting my payment to the wrong account, so they charged me a late fee which made my account over the limit so I kept getting that fee and a late payment fee along with interest so I told them I would not pay any more on my account than what I owed at the time of their mistake (which they did post the payment to my account but never subtracted the fees) So capitol one can kiss my you know what. That is one reason why I do not have a credit card, nor do I want one. My debit card is good enough at least that doesn't charge me interest it GIVES me interest lol.