NCO...always Capital One?

NCO collects on behalf of all of the creditors you mentioned; however, less so with Citibank.

It depends on the stage of your delinquency, and for which account they're calling about, whether or not you should return their call. Have you received any letters from NCO yet? If you're hesitant to contact NCO with a phone call, it wouldn't hurt to wait until you receive a letter, which will clarify for which account they are contacting you.

Keep us posted!

Thanks for the feedback. I settled last week with one of our two Capital One accounts so maybe NCO is calling on the other one. It was strange. I got a call from someone who said they were with Allied on behalf of Capital One. We were at 121 days on both accounts but they only had the one account. After speaking with the rep for awhile he transferred me to a supervisor and the supervisor said he was with Capital One. Pretty confusing. Anyway, I settled with the supervisor for 50% on the smaller account but he said the larger account was not eligible for settlement. I gave him an offer anyway and told him to make a note.

I later did receive fax and email confirmation of the settlement on the smaller account from Capital One and have it scheduled for bank draft on Friday. The same day and over the weekend I had calls from NCO.

Is it possible Allied was calling on the one account and NCO is calling on the other account?

I guess I will try calling NCO back to see which one they are calling on.

I didn't think it was BOA because I talked with them yesterday.

All our accounts are at about 130 days now. So far have settled Discover, Citi/Sears and CapOne all for 50%. Looking for lower on our last 3 to make this work.

UGH - I don't like to see mistakes made when people are settling their debt. I don't be to be a "downer" and it's not just you - a lot of people on these forums tend to jump the gun and then not end up with the best possible settlements. Oh well, water under the bridge. At least you're being cautious with your final accounts and reaching out for help. Again - patience!

Unfortunately, so many people are anxious when they are working on negotiations with their creditors, and this leads to mistakes. Yes, anything less than 100% of the balance is a bonus, but continue researching before settling your final accounts so that you can save the most amount of money possible.

gawe,

The 50% settlement, was it your offer or their counter?

This was via Allied?

Im at 120 days since last payment, Cap1 says no settlement available. Its just my luck, this was a Chase card that was sold to Cap1 and I recently settled my other Chase for 33%.

Thanks

Thanks Marie. I'm pretty happy with 50% for Discover and Capital One after some of the comments I've seen on these boards. So no worries. I don't feel like I made a mistake. It's done and I don't have to deal with them anymore. The balances were growing fast. I know I can do better on BOA and will hold out on that one as it was one of the biggest next to Discover. Citibank/Sears might have gone better had I waited but it already went to a law firm with a bad rep and I wanted it gone. I was surprised how fast they sent it out.

ioalot - when I first started talking with the Alliance guy all they would do was waive interest and late fees and wanted principal in 3 payments. I couldn't get anywhere until I kept explaining the situation and that we had consulted credit counseling and they recommended we go see a bankruptcy attorney. Then I got transferred to the CapitalOne rep. He wouldn't budge on the account I was calling on but when he looked up the 2nd account we had and checked on it he said he could accept the 50% on that one. The 2nd account was only at $2400 and I paid $1200. The first one that Allied was calling on was $3500. I figure I can use the one settlement as proof that they will settle..and I'm shooting for 50% or less on the 2nd as well.

Sure I would like less if possible...but the fact is I spent the money and I have about 40-50% to go around and if I can get there then I'm happy to be done.

If they have only sent you a letter requesting payment, send them a letter stating that you don't owe the debt and that you are requesting documentation proving that you owe if they believe you do.

This will either make them STOP or they will send the proof which will help you get the answer you're looking for.

So I guess Allied is still calling on the higher Capital One account. # 866-526-7795. Anyone know anything about this number and if they are worth talking to?