Re: NCO

Posted by LadynRed (199.91.33.254) on March 25, 2003 at 10:10:37:

In Reply to: NCO posted by HosedCredit on March 25, 2003 at 05:21:00:

There is NOTHING to compel NCO to work with a CCCS program, nor any other creditor for that matter.

First, NO ONE can file any liens against your property without first suing you and winning a judgment and, depending on the homestead exemption in your state against your equity, they may not be able to place any lien at all.

If NCO was calling pretending to be "AMEX legal dept" its a violation of the FDCPA, Deceptive practices. Their abuse is also a violation along with their threats of a lien - legal action they either do not intend to take or CANNOT take. NCO, as you've found out, is bad news and think they are above the FDCPA and tromp on it with impunity.

As for CCCS, I would be VERY CAREFUL with them. Be sure you know EXACTLY where and when every single dime of your payments are going - CCCS can be very bad about sending in late payments or payments that are not enough to keep an account from being charged off. You also need to be sure you can get a full accounting of what they're doing at any time. How much are they charging you in fees ? Are they going to hold the first month or two of your payments before they pay your creditors ?? Will you be getting statements from the creditors so you can track the activity on the account ?? Are they going to get late fees removed and interest rates down ??

You might want to read the following articles:

http://www.creditinfocenter.com/debt/DebtConsolCompanies.shtml

Not all CCCS firms are bad news, but too many of them ARE and you MUST be very cautious and very diligent in monitoring what's going on, otherwise they will ruin your credit as badly or worse than you could do yourself. In most cases, there isn't a thing that CCCS can do for you that you cannot do YOURSELF and save a lot of money in 'fees' in the process.

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