audryish Posted January 31, 2007 Report Share Posted January 31, 2007 a Link to comment Share on other sites More sharing options...
thomassl Posted January 31, 2007 Report Share Posted January 31, 2007 I have a debt with Cap1 that was charged off in April 2006 (last pay date July 2005). Cap1 is reporting on my CRA as follows:Condition: derogatoryPayStatus: collection/charge offThe last piece of "correspondance" I received from them was a charged off settlement offer in August of 2006 which did not accept as I didn't have the means at the time.I also received a "bill" from NCO in August and September 2006. The August bill was a settlement offer. The September bill was asking for full payment saying I didn't keep my payment arrangement (I had no pmt. arrangements) I haven't received anything from them since but do receive daily phone calls, which I don't answer. NCO is NOT reporting on my CRA. Another concern is that this debt is rapidly rising almost $50 each month. It has almost doubled in a years time. I'm not sure I want to let this go any longer and then end up being sued by them a couple of years from now for a balance that is 4 times what it was originally (happened to me last year) so I'm thinking of settling. Questions(1) Is NCO only collecting for Cap!? Are they acting as a CA and they didn't buy the debt from them? (2) Will BOTH Cap1 and NCO report on my CRA eventually?(3) If I want to pay off this account or settle do I contact Cap1 or NCO?(4) Do I not bother to worry about NCO since they are not on my CRA and deal only with Cap1?(5) Any luck with getting a PFD with Cap1 or getting them to remove negative marks once you've paid/settled with them?Thanks!I can only answer a few questions for you but maybe the others will assist you as well. I had NCO for a medical collections claim. The NCO was showing on my credit report with the hospital as being the original creditor. They were listed on the same line. I was able to contact the original creditor and have it removed as it was paid. The hospital still owned the debt. If NCO is not on your credit report, I would contact Cap1. I hear from many on the forum that they can be difficult but some have had success in settling accounts with them. I suggest searching the forum on other's experience with Cap1 and settlements. Link to comment Share on other sites More sharing options...
chilton1 Posted January 31, 2007 Report Share Posted January 31, 2007 Questions(1) Is NCO only collecting for Cap!? Are they acting as a CA and they didn't buy the debt from them? Does it say debt sold or transferred on the report? If not they are probably collecting for capital one.(2) Will BOTH Cap1 and NCO report on my CRA eventually? Yes, If the debt was sold both will eventually appear. If it was not sold either one will appear (crap 1 or the CA) (3) If I want to pay off this account or settle do I contact Cap1 or NCO? I would contact Capital one since they are the ones reporting the debt. Try to get a pay for delete agreement in writing with them before you pay. (4) Do I not bother to worry about NCO since they are not on my CRA and deal only with Cap1? Call Crap 1 and see if they are willing to settle and deal with them. Ignore NCO unless Crap1 says they sold the debt, then you wont have a choice but to deal with NCO.(5) Any luck with getting a PFD with Cap1 or getting them to remove negative marks once you've paid/settled with them? Maybe if you get the agreement to remove before you pay. Otherwise you have nothing to bargain with you are at their mercy.Thanks!good luck Link to comment Share on other sites More sharing options...
audryish Posted February 1, 2007 Author Report Share Posted February 1, 2007 a Link to comment Share on other sites More sharing options...
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