NCO letter: No Further Collection Activity

[OHBOY]

NCO sent a letter today thanking me for my 'inquiry' .Ha, I had sent them a DV & C&D on the first part of March...not exactly an 'inquiry'.

They further stated: " Please be advised that the above referenced account has been placed in a status to prevent further collection activity by NCO.
We appreciate the opportunity to respond to your inquiry, Very truly yours,"

(name, & then 'Compliance Resolution Administrator')

On the bottom of the letter is states the usual: " This is an attempt to collect a debt. Any information obtained will be used for that purpose. This is a communication from a debt collector."

I ASSUME THAT THEY NOW RETURN THE WHOLE 'SCHEBANG' TO THE OC ?

[Steelerbabe]

I received the same exact letter from them word for word and then less then two weeks later I got a letter from a laywer office in my state Hope you don't meet the same fate.

[BrokeIn2010]

It's when the collectors get quite or suddenly get all nice and understanding, that's when I'd start to worry.

[nokia123]

they did the same to me, and the next thing i know a lawyer was sending me a letter, and a month later i received a notice from the court to give a answer.

[WhatMoney]

I ASSUME THAT THEY NOW RETURN THE WHOLE 'SCHEBANG' TO THE OC ?

Not necessarily. They may just send it to another of the NCO family of collection firms, they have dozens of names. This is how they get around the "no collection activity" law if they do not DV you. Or, they may just send it to an attorney to sue you, probably one that works for them. Depends on who actually owns the debt now too, NCO or the original bank. It will not go away in any case - just be passed to someone else to attempt collection.

[frogger]

Depends on who actually owns the debt now too, NCO or the original bank. It will not go away in any case - just be passed to someone else to attempt collection.

NCO normally purchases the debt. The going rate for cc debt at this time is around 1.9 cents on the dollar (if the debt buyer can get financing).

They're probably not going to work too hard to try to collect it. But as WhatMoney states, this debt will get sold, sold, sold, and sold again and never go away.

After some time, it becomes that dreaded "zombie debt".

[GoingDown]

Not always.

In my experience with charged off credit cards, they were sold off to junk debt buyers, who started to call me, and then after I sent them a C & D letter, they sent it to a series of different collection agencies. All of them got C & D letters and stopped calling. After a few years of this activity, they all just stopped calling me and stopped sending my very defunct accounts to new collection agencies. I think there must be some protocol that if they don't get a penny from the debtor after 2 or 3 years of collection agency calling, and if it appears from a careful examination of the debtor's credit report and a public records search that the debtor has no employer, no assets, etc., and is therefore judgment proof, the best course of action is to just put the accounts in the inactive folder and wait to see if anything new ever pops up on the credit report.

I can say with some certainty, if I ever again applied for credit or a car loan or mortgage, etc., they would be alerted immediately and start calling again with new set of collection agencies, and the ones that were still in statute would probably sue me.

But, I have no intention of ever applying for credit again. And I don't apply for jobs that check my credit report.

[optimistic1]

Got one of those too, I was like, damn straight.

[catleg]

What's funny is when, like 3 months later when this huge envelope with about $5 postage lands in your mailbox with copies of your last 2 years of credit card statements.