orestes04,

You probably have to pay the two arrear payments you missed to your creditor to have the loan go back to the creditor. Some banks will have a collection agency deal with arrears as well as write offs for their accounts.

No idea about how NCO works, but legally Collection Agents are prohibited from threatening you to 'affect your credit' if the client (IE: who you owe money to) does not.

For example, in the Telcom field, Rogers affects it after 30 days, while Virgin does not. As such, I cannot just brandish the 'bad credit!' stick to any and all debtors... legally at least.

-MaskedAgent

Can't speak specifically to your issue, but my spouse has received a few calls from these folks over the last 10 days for a student loan.

Interesting because a) have not received a letter from agency, b) the holder of the loan continues to debit our bank account for payments, and c) we received a year end statement from the loan holder.

Now full disclosure, we have missed 2 payments over the last year - but I would think this would not be enough to move a loan to collections, especially since our bank account was debited last week for a monthly payment. Maybe they are just keen - or maybe there is something broken in the communications loop?

All in all, does not give me great confidence.

No experience but what you describe is pretty much the MO for every collection agency so yes that is likely how they will behave. Don't let them upset you, don't react or get agitated, don't give them any information. Find out why they are calling and then decide what you want to do.

They are suppose to contact you in writing before calling.

I got a call from NCO, not sure for what (am calling back soon), but I have noticed and heard from a buddy who has had a few agencies contact him that a lot agencies put on the scare tactics more than anything. They say up and down that they will report to bureaus, but apparently dont unless its for a credit card, bank, rogers or something a little more serious...

Anyone have any history with this company regarding something outside of a Student Loan...

thank you.