Has anyone COMPLETED a settlement with NCO for Amex?
Date: Mon, 06/21/2010 - 11:17
Several of us have received a fax from NCO outlining our settlements with Amex, for whom they were collecting. There is no question that they were assigned by Amex to collect. However, the verbage in the letter is concerning to me. It reads something like this:
Fax from NCO:
Pursuant to your agreement, we can offer you a settlement of $xxxx due by xx/xx/201. Upon clearance of said funds, American express will be notified that the account is settled.
Please contact us at 1-xxxx-xxx-xxxx, if you have any questions.
Please forward all payments/correspondence to: NCO in Horsham
This is a communication from blah blah.
__________________________________________
There is no mention of a 1099 or indication how it would reflect on cr. Also, Amex never expressed they would charge off the debt.
So the question I have for anyone who received such a letter and settled on those terms is did you ever receive anything from Amex stating the account was settled? And how did your CR reflect the settlement?
Thanks.
Fax from NCO:
Pursuant to your agreement, we can offer you a settlement of $xxxx due by xx/xx/201. Upon clearance of said funds, American express will be notified that the account is settled.
Please contact us at 1-xxxx-xxx-xxxx, if you have any questions.
Please forward all payments/correspondence to: NCO in Horsham
This is a communication from blah blah.
__________________________________________
There is no mention of a 1099 or indication how it would reflect on cr. Also, Amex never expressed they would charge off the debt.
So the question I have for anyone who received such a letter and settled on those terms is did you ever receive anything from Amex stating the account was settled? And how did your CR reflect the settlement?
Thanks.
I spoke with NCO today for the first time at 150 days late. They
I spoke with NCO today for the first time at 150 days late. They offered a settlement at 45% on a one lump sum, which I declined. I offered 37% and never came to terms. I plan on reducing my offer close to 180 days. Does anyone have any advice when dealing with NCO?
One of my cap one cards went to NCO, but when it came to settlin
One of my cap one cards went to NCO, but when it came to settling, I was sent back to cap one and dealt directly with them. Have you tried calling Amex about the offer and see if it is acceptable to them?