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Sent letter to NCO to verify debt

Date: Tue, 06/15/2010 - 16:02

Submitted by anonymous
on Tue, 06/15/2010 - 16:02

Posts: 202330 Credits: [Donate]

Total Replies: 6


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


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 .


lrhall41

Submitted by Ben World on Tue, 06/15/2010 - 16:24

( Posts: 23 | Credits: )


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.


lrhall41

Submitted by OZZIE69 on Tue, 06/15/2010 - 16:42

( Posts: 555 | Credits: )


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.


lrhall41

Submitted by Shazzers on Tue, 06/15/2010 - 17:18

( Posts: 17344 | Credits: )