Sent letter to NCO to verify debt
Date: Tue, 06/15/2010 - 16:02
Will they settle now? What should I do?
Any advice?
Thanks
NCO is a financial company retained by American Express to colle
NCO is a financial company retained by American Express to collect on past due accounts. You can certainly make payment arrangement of settlement offer. You can bet to settle your account anywhere between 40 to 50 percent of your debt.
On a debt of 8k, you should be able to settle for $3600 in four installment payments.
Good luck .
NCO was the worst collection agency I dealt with. Make sure you
NCO was the worst collection agency I dealt with. Make sure you get EVERYthing in writing, and I do mean EVERYthing. They settled at 20%, but it took a long time and a lot of fast talking. lol
If you end up contacting NCO, then ask to speak with a manager a
If you end up contacting NCO, then ask to speak with a manager as they have authority absolve some of your debt.
Quote:Originally Posted by AnonymousMy account AMEX account went
Quote:
Originally Posted by Anonymous My account AMEX account went to NCO and has balance of 8K 160 days past due. I sent them debt verification and Arbitration letter. Today I received a package with past statements. Will they settle now? What should I do? Any advice? Thanks |
I am in exact same boat on $3,700 with NCO/American Express. They sent me statements on 4/22. I have not heard from them since. Must be real busy these days. I read a lot about arbitration and that is suppose to stop any lawsuits against you.
I am just waiting to hear from them. Yes they will settle with you.
Quote:Originally Posted by OZZIE69I am in exact same boat on $3,
Quote:
Originally Posted by OZZIE69 I am in exact same boat on $3,700 with NCO/American Express. They sent me statements on 4/22. I have not heard from them since. Must be real busy these days. I read a lot about arbitration and that is suppose to stop any lawsuits against you. I am just waiting to hear from them. Yes they will settle with you. |
They are slow about responding, if you sent letters, I hope you sent it certified, and kept a copy, because they will deny ever receiving it, at least that is what happened to me. Call them and tell them you sent a settlement offer and would like to know what the status is, ask for the name of the representative you are speaking with and request that you have a direct line specifically to them. It's much easier to settle with NCO if you continually communicate with the same person all the time. Believe me, I learned the hard way.
To me, it is a total waste of time to mail off your proposal to
To me, it is a total waste of time to mail off your proposal to NCO. I had immediate success in one phone call with settling my Amex account with NCO at 35% over 6 payments. Yes, they are Indian people but they were not difficult at all. Good Luck.