Calls from NCO Financial

[ifucan]

So today I get a call from NCO, actually 2 separate calls one for me and one for my wife. They are referencing 2 business citi credit cards we had that we were way behind on due to our business failing. They identified themselves as from the legal dept. of NCO Financial and that things had to be resolved today or it was to be filed in the courthouse of our county.

I don't want a deputy knocking on my door. He asked if we had received our papers yet and I informed him no. So then he tells me that since I had not he was in a position to settle on the behalf of citi card.Told him I could not pay 1/2 of the balance ($12K and $9K respectively) so he says he could take 30% to keep it out of litigation. We go back and forth and I tell him well if papers are filed I'll just tell the judge...I AINT GOT IT, but I can pay what I can. Then I'm hold for his "supervisor" who informs they will take $200 down toward it and pay another $200 next month unless I can settle it!

So, question is if I had not paid anything would a deputy be knocking and I would have to go to court? I have 1 more card I fully expect a call on. How do I handle that if same scenario? Did I just pay these predators money I don't have?? Thanks for any help or responses.

[Trish]

It could have just been a scare tactic. Is this the first you are hearing from them?
Had you ever received any collection letters or calls prior to this?
If not, then I would advise you to not pay a dime until you get validation on this acct. Send them a DV w/limited C&D and let them prove that this is your account and that they have the right to collect on it.

Even if you know this is your debt......you should get validation before making any payment arrangements.

Oh...and do you know if this debt is still within your state's SOL? And also if you don't mind......let me know what state you are in.

[ifucan]

Hi Trish, thank you so much for responding. I am in NC. I already set a
payment by phone with them as frankly there scare tactics worked. Should
I put a stop payment on these and then when they call me,which they will I'm sure, tell them to send me documentation? Thanks!

[Trish]

Well, yes......had I not known any different, a phone call like that would have scared the piss out of me too.


Ok.....here it is:

NORTH CAROLINA

INTEREST RATE

Legal: 8%

Judgment: 8%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 3

Sale of Goods: 4

Written Contract: 3

Domestic Judgment: 10

Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

30 day written demand lesser of $500 or 3x check amount, but not less than $100.

GENERAL GARNISHMENT EXEMPTIONS

100% of last 60 days' earnings for family support. Garnishment only by political subdivisions for taxes, ambulance fees, etc.

COLLECTION AGENCY BOND & LICENSE

Bond: $5,000 to $50,000 License: Yes Fee: $500

Exemption for out-of-state collectors:

Contact state authorities. Unofficially, licensing authorities may allow out-of-state agencies to bypass requirements if they do not solicit in state and/or work for in-state clients.


So, for NC, the SOL on open and written acct is 3 years. By any chance has it been that long since you defaulted on this acct?

And again.......have they had ANY contact with you prior to this phone call? By mail or by phone?


Good news! :D Even if they did take you to court and win a judgment (worse case scenario here) they CANNOT garnish wages. So.......that's something that should give you a bit more confidence in fighting this.

I did check and NCO is licensed to collect in your state.......but from what I've heard about NCO.......they are scum. They violate laws and try to scare you into paying. They have gotten MANY slaps on the wrist and fines for not playing nice. So I really believe they were just trying to scare you into paying.

You should type up a DV letter this weekend and get it to them ASAP.

Here is their local office:

NCO Financial Systems Inc
6324 Fairview Rd
Charlotte, NC 28210

Be sure to send it CMRR

Let me know if you have any more questions.