NCO Financial Capital One ripoff Horsham Pennsylvania

Debra,
The same thing happened to a friend years ago. I never paid Cap One, and balance kept getting higher. Then NCO tried to get the $ from her, saying they would accept a small % of original balance, around 35%.

Well, she never paid them, since my credit rating was already poor. If you can wait 7 years from your last payment to them, it will drop off your credit report and there's nothing they can do. I read somewhere that if you make a payment or even a written letter promising a payment, then the time limit starts all over again. They usually only turn to a collection agency when they think they can't get the money from you. And then NCO will send you more and more letters as the statue of limitations is nearing the end. If you do decide to pay NCO, make sure you get a letter in writing from them saying what they're promising, i.e., we will accept $600 as payment in full. My friend waited it out, and it's now off her record.