thecooler

Trying to repair credit by paying in full (NCO)

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Hi everyone.

Here's my situation. I've been in contact with NCO with regards to my Amex account. I've received an Oasis plan offer from Amex which states that I'll receive a card as soon as I pay in full, and I'd like to take that offer.

Problem is this: I've told NCO I'm willing to pay in full if they agree to take all of their inquiries off of my credit report, as well as get Amex to state "paid in full" with no reference to a collections account and delete late payment history.

NCO say that they have no way to request Amex to do that, but they also say that they won't delete any inquiries off of my account either. The only thing they say they will do is state "paid in full" and obviously this is no good since it's a collections account.

My question: What would be your advice regarding how to deal with them? Should I DV (I haven't done so yet since I was eager on getting this paid and getting my Amex back), and if I do DV and they take it off of my report who would I pay in the interim to try and make use of the Oasis program and get my Amex back?

The last thing I'd want to do is pay them first and then deal with goodwill letters etc where there's no guarantee it would help...

Thanks for all your help!

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Just an FYI, AMEX does not deal........period. AMEX will never extend credit again until your account is truly paid in full. Even if the debt was discharged in BK. Actually, even if your deceased father with the same name had an unpaid account. That's how good their records are.

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I found found NCO to be very slow and extremely unprofessional. If your accounts are in collections, it has been my experience to deal strictly with the original creditor not NCO. Sometimes they have duplicated their accounts which I did have them remove...they changed names! I contacted the original creditor, made arrangements to pay the bill in full with a written contingency that the notifiy NCO to remove the collecton from my credit reports. I also requested a letter from NCO that it was to be removed after I got the verification from the original creditor. It has been removed! Again, my suggestion would be to go through your original creditor, Amex, instead of NCO.:)++

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If it were me, I'd consider the offer from AMEX. Your business is with them. NCO are wanting their cut to this, so expect them to not bend to what you're requesting.

Give it some thought. I don't know anything about their OASIS program though.

Elyse

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Dont deal with NCO .. not ever.. go to AMEX.. they are a junk debt buyer with a horrid rep.. check out budhibbs.com and look at the list of americas 10 worst debt collectors and read all you can on them.

Deal with AMEX.. NCO will never drop it from your CR.. I had promises from themn to do that and it took a complaint to the PA AG office to get it deleted... they are horrid

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Dont deal with NCO .. not ever.. go to AMEX.. they are a junk debt buyer with a horrid rep.. check out budhibbs.com and look at the list of americas 10 worst debt collectors and read all you can on them.

Deal with AMEX.. NCO will never drop it from your CR.. I had promises from themn to do that and it took a complaint to the PA AG office to get it deleted... they are horrid

The OP has not indicated if NCO purchased the account or is acting as a CA.

If NCO purchased the debt, AMEX no longer retains title to the account, is not entitled to payment, and any money sent to them would have to be forwarded to NCO.

That means if the OP pays AMEX, AMEX automatically sends the money to NCO, and the OP has lost all leverage with NCO.

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