NCO Financial and consolidation/ settlement?
Date: Mon, 03/20/2006 - 18:36
There is a credit card that I thought we had included with a debt settlement company last year, but it had not been added. I told the NCO rep that I would call the counselor tomorrow to have it added, I was told that they will not work with any programs, consolidation or settlement (we have some cc accts handled by a debt settlement co, and signed up with T&C for consolidation of payday loans; I figured I could add this stray cc acct). I know the biggest reason is they don't want to be asked to waive/ lower fees. I asked if they honestly would prefer NO payment to consolidated payment. The collection person would not answer that.
**after talking with them, I realized why it wasn't added- we weren't going to add this card because we wanted to keep it, but in Oct 2005 we had changed bank accts, and the company would NOT let me change a pre-authorized debit because the card was in hubby's name. by the time they notated the Power-of-Attorney on the acct, the payment had already tried to process out of the old acct. It was returned, and the company charged us $150 total in fees (NSF fee plus overlimit and late fees). I asked for the fees to be waived as a one time courtesy and was told no. So I said heck with them. I know, wrong thing to do but it was the only problem we had ever had on the acct, never late or over the limit before. And since then I kept forgetting to call the debt settlement company we are working with to have the acct added.
Sorry for the book. any advice?
Are you saying that NCO is after that $150 overdraft fee? I'd
Are you saying that NCO is after that $150 overdraft fee?
I'd take the position with the bank that you (plural, have your husband sign the letter) attempted to close that account prior to the overdraft, but the bank's employee failed to effect that order; it was the bank's negligence that caused the overdraft. You're going to have to file suit because of the overdraft fee, and the question is, would they rather be a party to the suit or drop the claim and call it even? That's a small claims kind of thing, you don't need a lawyer. Also, don't believe what they tell you. If you had authority to close the account under a power of attorney, they should have given effect to your order that day, subject to receipt of a copy of the power of attorney. If they failed to at least put a hold on the account, then the overdraft is their own negligence, and you're not liable for that money. I'd tell NCO to go ahead and file suit. If they do, then implead the bank as a third-party defendant.
No, NCO is collecting on behalf of the credit card company, who
No, NCO is collecting on behalf of the credit card company, who refuses to waive the $150 in fees even though I had tried to stop the scheduled payment. They took days to apply a POA to the acct (it was actually not the first time that they had been faxed a copy of my POA) and by then the debit was already attempted. I told them I didn't feel that we are responsible for the $150 in fees because they wouldn't change the payment so that it could be debited from a different bank acct.
I dealt with NCO. I was told by someone at Capital One that NCO
I dealt with NCO. I was told by someone at Capital One that NCO had bought my account from Capital One, even though they kept saying Capital One would not agree to reducing the overlimit and late payment fee. I did get them to agree to a settlement, but they were very difficult to deal with. On the Bud Hibbs website it gives some information about some fines they were given. You might want to check the site out.