Bank of America charge off

[Flatbroke1]

I spoke to BOA today to follow up on a settlement letter I sent them. They told me they no longer have my account and that it is now with NCO or NCL (something like that) in Baltimore, Maryland. I asked if it was assigned or charged off, I was told charged off. This was a $54,000 balance credit card. What happens now? I am surprised that BOA did not sue me for such a high balance. Since I work overseas (my residence is Texas) perhaps that is why they have not sued. I never received any collection call from them and very few dunn letters. I also let them know from the beginning that I was filling for chapter 7 bankruptcy in Texas. I still intend to but haven't yet. Anyone ever worked with this NCO or NCL place?

[BigJohn]

BOA probably still owns the debt but the debt is probably assigned to NCO(sic).

Charge off is an accounting term. You still owe the debt.

Assign means somebody has been given permission to work the account.

9 out of 10 you talked to somebody who knew beans from barley and they said whatever came out of their mouth.

Check your previous letters you got from BOA it will tell you who the account is assigned to and if it has been charged off.

[optimistic1]

They probably didnt bother suing you because you live in Texas, a non-garnishment state ( to a certain extent ).

What happens now?

Wait for NCO to send you a dunning letter showing the amount owed. Then, if you hired an attorney, next time they call you, refer them to your attorney.

If you have not hired an attorney, then send NCO a DV letter, that shuts them up and stops all the calls for months, until they answer the DV, or send it back to BofA, which then BofA will either just sue you, or send it to a different collection agency, then repeat steps one and two.


NCO is a slum collector who barely ever called, and since asking for verification, the phone has been quiet.

[njguy1972]

if you are filing chapter 7 the settlements probably do not matter but...

I was able to settle with BOA for 15 cents on the dollar after 6 months of non payments. It was done via a collection agency.

I worked with NCO for AMEX and was able to settle for about 30 cents on the dollar.

[albacore44]

They probably didnt bother suing you because you live in Texas, a non-garnishment state ( to a certain extent ).

What happens now?

Wait for NCO to send you a dunning letter showing the amount owed. Then, if you hired an attorney, next time they call you, refer them to your attorney.

If you have not hired an attorney, then send NCO a DV letter, that shuts them up and stops all the calls for months, until they answer the DV, or send it back to BofA, which then BofA will either just sue you, or send it to a different collection agency, then repeat steps one and two.


NCO is a slum collector who barely ever called, and since asking for verification, the phone has been quiet.

NCO is a PITA. They have had my DV for a week and are still calling. not a real human just that annoying azz hat with the loud voice on the recording trying to scare you.