National Credit Adjusters collecting for Loanpoint USA
Date: Tue, 06/21/2011 - 00:04
Nothing happened for about a year and a half.
Three months ago I received a letter from the Farrell Law Group in regards to this debt. I responded with a debt validation letter. They got back to me immediately and said that the debt had been sold and was now out of their hands.
Now I am getting calls on my cell phone and at work from NCA National Credit Adjusters. The balance they are trying to collect is $3,120 but immediately started offering me a 50% pay-in-full offer. The thirty days since my initial letter from them has already passed.
This debt is legitimate, at least some of it. But I realize both the PDL and NCA are crooks so at this point I can justify both reaching a settlement or working my way out of this debt entirely.
I have a handful of questions:
1) Is NCA likely to respect a verbal request to stop calling me at work?
2) If I work out a payment plan can I trust NCA that this debt will be forever gone and not pop back up again either from them or another CA?
3) Can I trust NCA with my bank account number (to withdraw) if I reach a settlement plan with them?
4) SHOULD I work out a settlement plan with them?
5) Even though the original 30-days of correspondence has passed would there be any benefit to sending either a cease and desist or debt validation letter?
6) If I can wait out the phone calls (including at work) will they eventually just go away?
From the best of my research this was not a legal loan from Loanpoint USA to the a resident of the State of Texas to begin with. But perhaps some of you might have more insight on that.
There is nothing of this on my credit report as of now. I am 6 months out from applying for my first home loan, so it is vital to me that it stays that way.
Any and all advice appreciated, thank you!
Loan point USA is not licensed to operate in Texas. So, you??
Loan point USA is not licensed to operate in Texas. So, you???ll only have to pay the principal amount. You won???t have to pay anything else. I don???t think NCA will honor your verbal request and stop calling you at work. Send a validation letter in writing to the NCA. If you have not paid off the principal amount, then you may make a written agreement with the CA to repay it. No, you should not reveal your bank account number to them.
Since 30 days is already over, so you can send a Cease and Desist letter. Never pay any money without getting the validation letter.
i need some info
well never trust either place as the lender is illegal everywhere,and NCA is a piece of dirt bottomfeeder.i need more info.
1)you said a handful of debits.define handful please.
2)how much was each debit.
let me give an example:
you say you borrowed 700.00 now let's say the debits were 150.00.a handful being five debits of 150.00 makes 750.00 you paid to loanpoint.meaning not only do you not owe,but they owe you 50.00.now if NCA won't send you at least a collection letter you don't even engage them until they do.however if you can come with the info requested you might not owe on this making any dealings with NCA moot,.and your AG needs to get involved.just don't even think about paying until you know how much,or even if you really owe on this.
Since LoanPoint is not licensed, their "contract" with you is vo
Since LoanPoint is not licensed, their "contract" with you is void. Do you think you repaid the $700 before your account was closed? We always advise that, ethically, repaying the principal of the loan is what should be done.
I would tell this new CA to send you something in writing. If they refuse, then you know you're dealing with criminals.
Do NOT work out a settlement with anyone until they have provided you with proper validation of the debt. They should be able to tell you how they arrived at that figure.
If they won't send you something in writing, ignore the calls.
Thanks so much- so if I send a cease and desist letter does that
Thanks so much- so if I send a cease and desist letter does that then force their hand to respond with a debt validation letter?
if you have an address
if you have an address send a DV letter of your own.send it certified mail return receipt.by law they cannot continue to collect until they validate.that means phone calls,letters,lawsuits,and reporting on your credit.send it asap.