I owed a debt, to American Express, which was being handled by a couple of collection agencies ending with First Revenue Assurance. I became sick, lost a job and was unable to pay the bill on my non-revolving account.
I began being called several times a day, one morning it was 8 times. I wrote many letters asking them to stop harrassing me. I was making payments to them every month. The debt was initially $2400, but quickly became $4800 having been doubled by fees and penalties which they denied they were adding. These people lied relentlessly, and said whatever they felt they needed to say in order to get a payment. The agents are paid a percentage of what they bring in, and they are not accountable for what they tell us. I was repeatedly told that if I continued making payments, it was an "interest-free, penalty-free account." That was never the case.
It was almost impossible to get a letter from these guys, I would have to repeat and withold money to get a letter verifying the settlement offer when I was ready to settle. I paid the company $3,800.00 in two payments, which was the settlement offer that I accepted. The first payment, of $2,000.00, was recorded and the recording of this payment was shared with American Express.
The last payment was received and I was told the debt was paid. I was to receive a verification of this on letterhead to follow, but I never got it, and didn't worry about it because I knew that it was paid, and they agreed with me. After all, it was their settlement offer.
Now, 5 months later, I began getting calls from NCO Financial Services. The agents are fairly polite, but they of course do not take my word for it, and they refuse to stop calling me when I request them to. FRA apparently never told American Express that I paid the last payment. I called FRA, they assured me the debt was recorded as paid and they would tell AE. They did not. I continue to be hassled by NCO in my efforts to get FRA to do their part of the deal. "Fair practices?" I think not.
My suggestions to others are to get everything in writing, everything, every payent, every offer, i.E., "we are not charging you interest or penalties." I would not believe what I did not have in writing again. All of the payments that I made to them, which was around $1,500.00 during the 7 months that it took me to settle my debt, were to no avail, they did not even drop the balance, because interest caused the debt to go above the limit, so I had over-limit fees each month as well.
I just got another call from NCO, who has none of the letters that I sent to American Express, so they will not stop calling until I send them a written request to do so. I was looking for their e-mail address when I found your helpful web-site and wanted to share my experience with you all. These companies are evil and unethical. Please file a complaint with the Attorney General's office who needs to be informed about these practices.
Thank you.
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