NCO / Capital One Settlement?

NCO does do settlements but they are bone heads to deal with. I sent them a debt settlement letter to settle on a debt (medical) which was $879.00 and offered $400.00. They talked to my friend on the phone after they received the letter and told him the letter said $500.00, but it didn't. So, he agreed on the 500 and I stopped him and told him they were liars about the amount, so I got on the phone and argued with the lady about the amount and told her I have a copy of the letter for 400 bucks. Well, to make a long story short we didn't settle at that point but the moral of the story is don't trust a word they say because they are snakes in the grass, also difficult to talk with, however, they WILL settle, you just need to wait them out.

here is a discussion on Capital one negotiation

Some more about NCO and Capital One

Thanks for the input, but Bakerjon the link you sent is from 2005. I think things have really changed since then. If you have anything newer that would be great. I'm just trying to get a feel for the willingness to settle in today's economic climate.

I did come across some collection industry news that Capital One charges off more debt than others - to me this means that they are unwilling to settle and for some strange reason are instead charging it off and taking the loss. Since it's making them look like a loser company I'm hoping that this will change since investors don't like to see that.

My Capital One is around 150 days and just recently went to NCO. The rep there offered a settlement of around $5k on a $7k balance. I asked for hardship plan and was told they only do that in extreme circumstances, such as medical issues, not just for loss of income. I asked for interest rate reduction b/c it's costing me about $200/month in interest and fees but he said NCO couldn't change the APR (currently 17%), but that if I paid the past due balance it would go back to Cap. One and they would negotiate the interest.

Not sure if I should let this one go further late and continue racking up fees/interest in hopes of a settlement, or just start making some small payments and try to get it back to Cap. One.

NCO just called and offered me 70%. What is the advice on sending a settlement request asking for lower? These people are very pushy pushy pushy and act like they didn't hear what you said. I must have told them three or four times I DO NOT have a checking account that I will give to them and she kept saying "well how are we supposed to let the company know you are serious if you don't give us your checking account". I wanted to reply "how do i know you are serious when you won't listen to what I just said" but I didn't/

NCO doesn't have the power to negotiate. They just tell you what is on the screen. Ask to be transferred to Capital One. Those account managers may or may not be able to change anything but they have been very nice to deal with. no one has asked me for checking acct info and when I did settle the one card with them I told them I didn't have an account and would send a cashiers check and they were fine with that. No questions no problems.

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That is not true. I used a company called DS Financial and they settled my NCO and other accounts for 22.5 % of what I owed. I would call them at 866-833-6398.

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Hi, I work in Capital One's customer service group and I would like the opportunity to assist you. Please feel free to contact me at deleted..pm if you'd like to discuss your situation. Thank you. Kathy

NCO is equivalent to a bunch of snakeheads festering in a septic tank.
They will get your cell phone number and somehow all of your family's numbers also.

My daughter owed Cap One about 200.00 for some bs stuff that was later creditied back to her account.

Snakehead NCO calls me looking for her.
I asked them who is this and why do you want to speak with her.
That really pissed them off and they hung up on me.

Bad move.
I started calling them.
They are in New York and Ontario, Canada.

Had a lot of fun with those snakeheads.
Called them 3-4 times a day just to make my point.