Summary: If you see a collection on your credit report from NCB Management Services, you may be wondering how to get rid of it. Learn how to remove NCB Management Services from your credit report and pay less than you expected.
So you went to check your credit and saw the name “NCB Management Services Inc” attached to a negative mark on your report. You look over all your past and current loan accounts, credit cards, and other financial records, but nothing matches.
So what gives?
You’ve probably had some form of outstanding debt sent to collections.
NCB Credit Management is a collection agency, a specialist in prying money from debtors who have defaulted on a loan or other credit line.
If you have an account in collections, you have two challenges.
- You have to resolve the account. A collection agency will harass you and could even sue you as long as the debt is not resolved.
- You have to address the damage to your credit. Collection accounts are a serious drag on your credit score.
These two challenges are related, but they are not the same thing. One involves dealing with the collection agency, the other involves dealing with the three major credit bureaus: Experian, Equifax, and TransUnion.
Who is NCB Management Services Inc?
NCB Management Services Inc is a debt collection agency primarily focused on retail, healthcare, student loans, and government debt.
The collection industry has a bad reputation – often for good reason – but NCB Management Services is a legit business organization. They are accredited by the Better Business Bureau with an A+ rating.
Collection agencies like NCB Credit Management are hired by companies after the borrower has stopped making payments for a certain length of time.
If you’re receiving a letter or call from NCB, it’s likely because you defaulted on a loan or bill and the original lender has sold the debt to NCB Management Services, Inc.
It’s also possible that the original lender never received or registered your payments, either because of a technical malfunction or an error on their part.
They may have mistakenly sold your debt to NCB Management Service, believing that you’ve willfully violated your loan agreement.
How to Get NCB Management Services Off Your Back
If you’re dealing with NCB Management Services or any other collection agency, follow these steps.
1. Know Your Rights
The rights of debtors and the obligations of debt collectors are spelled out in the Fair Debt Collection Practices Act (FDCPA). Here are some key points.
- A debt collector cannot call you before 8AM or after 9PM.
- A debt collector cannot call your place of employment.
- If you have a lawyer, the collector must communicate with your lawyer.
- A debt collector may not communicate with your friends or family members or tell them about your debts.
- Debt collectors cannot threaten to harm you, your reputation, or your property, or use profane language.
- Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
- A debt collector cannot threaten you with imprisonment or seizure of assets.
For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).
2. Validate and Verify the Debt
A debt collector must supply the following information to you within five days of the first time they contact you.
- The amount you owe.
- The name of the creditor.
- A notice that you have 30 days to dispute the debt.
This is called debt validation and the information is usually contained in a debt validation letter.
If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts. To dispute the account you will send a debt verification letter. Send the debt collector a certified letter asking for the following.
- How much you owe.
- The name and address of the original creditor.
- Proof that you owe the debt.
- The date of the original debt.
- Proof that the collector has legal standing to pursue collection efforts in your state.
Remember the difference between a debt validation letter, which the collection agency sends to you, and a debt verification letter, which you send to them. Once you receive the debt validation letter you have 30 days to send your debt verification letter.
Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you. Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.
If the collector cannot verify the debt they must cease contact with you and notify the credit bureaus that the debt is unverifiable and should be removed from your credit record.
3. Get NCB Management Services to Quit Calling
You could get as many as 15 calls per day, according to a Consumer Credit Card Market Report.
That’s way too many.
But you can’t just call them at 1-800-828-1110 and ask them to stop.
Follow these simple steps to get NCB Management Services to stop calling you.
- Write a “stop contact” or “cease” letter telling them to stop contacting you.
- Make a copy for yourself and mail the original to 1 Allied Drive, Feasterville-Trevose, PA 19053 .
- To prove you sent the letter, send it by certified mail with “return receipt requested.”
Make sure you follow these exact steps.
If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”
When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.
Then you can tackle the next step.
4. Contest the Debt With the Credit Bureaus
If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.
Credit Reporting Bureau Mailing Addresses
|P.O. Box 740256|
Atlanta, GA 30374-0256
|P.O. Box 9701|
Allen, TX 75013
|P.O. Box 2000|
Chester, PA 19016-2000
You can also dispute it online:
The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.
Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.
5. Make a Deal
Let’s say the company is able to validate and verify your debt.
That’s when you try to make a deal. Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.
An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.
NCB Management Services might agree to a debt settlement for less than you owe.
You might offer 10% of your balance to see what they say.
They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with. After that, it might take up to 30 days for NCB Management Services to report your debt as paid to the credit bureaus.
6. Go For Deletion
A collection agency may agree to remove your account from your credit record if you settle your debt. This is called a “pay for delete” arrangement.
When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.
Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.
A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If the settlement is accepted you will no longer have to deal with the collection agency, and that’s a big plus.
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7. Hire an Expert to Handle It
This last step is optional, but it might be the fix you’re looking for.
Debt collectors can be aggressive. From phone calls to letters, they never give up!
If you get stuck, reach out to the credit experts. Credit repair companies have experience in dealing with pushy debt collection companies.
This way, you don’t have to deal with it on your own. When you leave it to the pros, you can breathe a big sigh of relief.
It will cost you something and you’ll have to be sure the company you’re working with is credible. Debt relief and credit repair scams are everywhere. If you find the right company and you’re willing to pay, it might be worth it.
Usually, a credit repair company is only a useful choice if you have multiple collection accounts or other issues on your credit report. If it’s a single account, you’re usually better off dealing with it yourself.
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