Settling an AMEX debt with NCO for 38%. Is it ok?
Date: Fri, 03/19/2010 - 12:24
I told them I need to review the letter first.
They told me I can pay it in 2 payments and they can accept payment by either debit card or by check over the phone.
Is all of this ok?
Please advise asap!
Thank you so much!
How does that check over the phone work? I was told if I wanted
How does that check over the phone work? I was told if I wanted to settle 45% that's how they wanted me to pay. I don't have 45% tho :(
you just give them your routing number and account number and it
you just give them your routing number and account number and it is like an invisible check.
just my .02 here, but i would advise against check or debit over
just my .02 here, but i would advise against check or debit over the phone. having worked in banking over 7 years i have seen a lot of problems when people give out checking and debit card numbers. whats to say that they won't keep drafting it after the fact? yeah its an unauthorized transaction, and yeah you might get your money back but thats a HUGE headache.
i'd tell them you only have access to getting an official check or money order.
and last but not least if you do decided to give out the bank information, PAPER TRAIL, PAPER TRAIL, PAPER TRAIL :)
I just settled and AMEX today with NCO for 30%. They called and
I just settled and AMEX today with NCO for 30%. They called and offered me a dollar figure of 40%, I said I couldn't do that and offered them a figure which was 26%, they immediately came back at 30% down to the penny.
That was the first time I ever talked to them, I had received 2 invoices requesting the full amount including one in today's mail. They have called a few times but never left a message. Since the account was approaching 150 days I piked up the call and immediately said they could settle the account at a discount.
2 accounts down, 4 to go.
NCO is a little tricky I settled with them for 28% about 2 mont
NCO is a little tricky
I settled with them for 28% about 2 months ago
they did not want to send a settlement letter at first
then they finally sent one but the dates were wrong!
Make sure you check everything !
Also I got them to send me a full release settlement letter that was 3 pages long
and signed by a supervisor. They did not want to do this but I made them....
Just be diligent and make sure it meets your standards !
good luck
I suggest you pay these settlements with a gift Visa card. You
I suggest you pay these settlements with a gift Visa card. You can purchase them at the bank and load any amount of money on them that you want. They get their money right away and you don't have to give them your checking account information. AFter the payment you can go online to the website for the giftcard and print off the transaction showing it being paid. Easy sneezy.
Debt Free to Be, interesting idea. Do the Visa cards cost anythi
Debt Free to Be, interesting idea. Do the Visa cards cost anything?