Despite an arrangement I had to pay off MBNA with interest free payments, they sold my debt to NCA. NCA contacted me and demanded payment. I was losing my house, unemployed due to a dramatic economic downturn in Silicon Valley and frantically looking for work. After articulating my situation and desire to retire my debt, NCA threatened to sue.
I told them that I was not disputing the debt, simply unable to commit until I had an income stream. Well, they sued and got a judgment. I don't recall being served, receiving any documentation and as a result, missed my court date. NCA was awarded over twice the face value of the debt. Assuming they paid 1.5% of the face value of the debt of $4,400 and received a judgment for $10,000, their profit on my misfortune was 1,500%. They levied my bank account for $4,000 which was an advance on proceeds to prepare the house for sale.
I have made four requests for a line list of charges from NCA, legal fees, interest and so forth which have been promised but not delivered. There seems to be a common theme here regarding hollow promises from NCA. NCA has turned my life up-side-down and I desire to help others victimized by their marginal legal practices.
Depending on the response, I will host a website specific to NCA complaints in hopes we can collectively demonstrate a pattern of unethical business practice. I will also work on retaining an attorney to seek punitive damages for unpaid balances they owe. They should pay no less than the same interest on money they owe as they charge for money they feel is owed them. If you have had a bad experience with NCA I want to here from you. I also want to let merchants selling their debt know the way their clients were treated. On the basis of my experience with NCA, I will never do business with MBNA again.
Near Sacramento, California