SpudGirl

NCO or Prof. Recov. Svcs Anyone?

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Has anyone had experience with Profess. Recovery Svcs.? Just got a collection letter today for a B of A account. Do they sue?

Also, I read some other threads where people had NCO back off with a DV. I got sued by an atty (for Cap 1) with NCO as the CA. How can I get them to back off?

Thanks!

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Has anyone had experience with Profess. Recovery Svcs.? Just got a collection letter today for a B of A account. Do they sue?

Also, I read some other threads where people had NCO back off with a DV. I got sued by an atty (for Cap 1) with NCO as the CA. How can I get them to back off?

Thanks!

This may be a silly question, but what do you mean by back off?

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I'm not really sure, except the posts that I saw it in made it seem like NCO stopped pursuing altogether.

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my experience is that NCO is just one line of the collection effort, they backed off on the DV but the account was sent on to another CA and then to an Attorney who filed suit. I read in the Capital One Prospectus that their stated goal is 100% recovery on defaulted debt so I would expect them to be aggressive.

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When was the date of last activity on your account ? Is it still within the statute of limitations in your state ? Also, the statute of limitations in the state of Virginia ( headquarters of Cap One) is either 3 or 4 years, and you may be able to force their hand on this by claiming expiration of SOL either your state or Virginia ( if applicable in your situation)

Had you previously disputed this account with CAP 1 , or any other CA ?

In any event, demand proof that the Debt Collector or jdb has legal standing in this matter by showing proof they have a valid assignment, properly executed manifested by a written agreement showing how much they actually paid for this debt ,( valuable consideration) .

I would also demand proof of the complete unbroken chain of title, beginning with the OC, showing the names of each entity in that chain of title and the the progression thru that chain, Demand proof that each entity in that chain had legal standing (per above), and that the entity who assigned or sold this account to them had legal authority to do so, by providing a properly executed written agreement from either the OC, or any other entity in the chain of title. Explain to these guys that collection attempts cannot or should be made based on mere conjecture, but must be supported by confirmed legal standing in a manner which would allow the courts to adjucate their claim.

If I were you I would google your state's debtor exemptions, in the event you are sued and a judgement is awarded against you.Example: "Idaho Debtor Exemptions"( or the name of your state) You can file a list of these exemptions with the court clerk. I suggest you consult a bankruptcy attorney to prepare these exemptions for you, in the event you are sued and a judgement is awarded against you. This is debtor's right without filing bankruptcy, but must be filed within a certain time frame according to your jurisdiction. Keep this in mind and act accordingly ! The attorney fee is very minimal ( a couple hundred dollars or so, as compared to actually filing bankruptcy...as much as $3000.00 or so) You may find that Idaho is generous in their exemptions, many states are !

NOTE: I googled "Idaho Debtor Exemptions" ...SEEMS IDAHO LAWS ARE VERY GENEROUS IN PROTECTING QUALIFIED EXEMPTIONS !

However, bear in mind state laws can be changed or amended at anytime, therefore you really should consult with an attorney if you choose to claim exemptions. ( I found Idaho's exemptions via google, but sometimes the internet is lagging on the most current laws for any given jurisdiction)

I suggest " USING ALL AVAILABLE TOOLS" in protecting one's assets !

I further suggest that you google: Idaho fair Debt Collection Practices Act, and also: Idaho Consumer Protection Laws....see if you can find any flaws in any dunning letter or telephone call you have received.

Edited by Noway

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This creditor has not sued me yet. I'm wondering if they typically do.

Do you know if BofA still owns the account? If your not sure, check your credit report. If BofA still owns it, the account will merely be charged off. If they sold it, their entry will state "sold/transferred".

If NCO owns the account, you stand a better chance if you were to be sued. If BofA still owns it, you might want to consider a settlement. I don't know if BofA will sue, but it's better to settle before a lawsuit before attorneys fees are added, or you get a judgment.

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SOL in VA is 5 years, as is ID where SHE lives.

Thanks for verifying this info !

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I am being sued by Cap One who is represented by a law firm that is also a collection agency. But in calling Cap One, they told me that I needed to contact NCO, who then directed me to the lawyer SUPPOSEDLY representing Cap One as plaintiff. Cap One is pretty aggressive and so is NCO, and so is this particular debt collecting law firm. If it's not the OC suing you, by using the correct language in your response, you may be able to convince them that it will cost them too much to come after you in court, you might get them to dismiss the case. They are overloaded, looking for easy targets who won't even respond to the summons, that's where most of their income comes from. Do you actually owe what they are claiming? If they actually OWN the debt, and can prove it, including chain of title, you may want to try to settle this one. Just make certain you are settling with the current owner of the debt and get it in writing, before you send any money.

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