NCO Financial?

Renoki

Hi, slight lurker here,
But I have a question about NCO Financial.

What happened:
1) Phone Call at work about an overdrafted bank account which apparently my bank never informed me about.
2)I ask for a written letter to be sent to my school address immediately and I call PNC immediately to understand whats going on. I find out my account was closed and the debt was sold off to NCO so it's not like it was a fake call.
3)I wasn't sure what to do exactly since I researched NCO and sold debt and it seems that PNC cannot do anything about sold debt. Or rather they sold it to NCO.
4)Being very stupid I called NCO back (knowing the debt was real) and decided to pay it off over the phone (using a credit card). I realize now this may not have been the smartest thing to do. I got a confirmation number and I checked my credit bill online and the payment was posted to it.

This is my first time in this situation, (the overdraft fee situation is completely my fault, I was not careful at the time) so I may have been to hasty in trying to get rid of the situation. Paying it off is not an issue, rather making sure I have good credit is and I do not know if I did the right thing? I asked for written verification of the debt before I paid, and then when I paid they told me the PNC and I would get would get a letter of payment in 7 to 10 business days. Since I used my CC to pay it off, I have at least a way to dispute the payment and/or confirmation of NCO's acceptance of the payment in writing. But was I still to hasty in all this?

Please advice, criticism, anything?

edit: all in same day

Seattle Thread

NCO is a collection agency. You should in the clear, though it seems strange that the bank would sell an overdraft debt like that.

MushroomStick

If you're confident the charge was legit its fine that you paid it. I wouldn't have paid it with a credit card, but I might just be paranoid about that kind of stuff. Maybe check you credit report to see if there's anything bad about this on it.

Rhino

I wouldn't have paid it with a credit card, but I might just be paranoid about that kind of stuff.

With a credit card you can dispute the charge or do what's called a 'charge back'. So, if they turned out to be scammers, you could call your CC company and reverse the charges. If you paid cash or check you would of been out of luck. (well, some banks might let you put a stop payment on your check if you were quick about it and don't mind paying their 'convenience' fee)

Heir

Makershot wrote: »

NCO is a collection agency. You should in the clear, though it seems strange that the bank would sell an overdraft debt like that.

IIRC from when I worked at Chase bank....when an account is closed for being overdrawn for too long, it gets sent to collections. I think for some banks they have a third party who does the actual debt collection.

MushroomStick

Rhino wrote: »

I wouldn't have paid it with a credit card, but I might just be paranoid about that kind of stuff.

With a credit card you can dispute the charge or do what's called a 'charge back'. So, if they turned out to be scammers, you could call your CC company and reverse the charges. If you paid cash or check you would of been out of luck. (well, some banks might let you put a stop payment on your check if you were quick about it and don't mind paying their 'convenience' fee)

I'm aware of that. What I'm afraid of is them keeping a credit card number on file and using it to pay off a future debt without permission.

Barrakketh

MushroomStick wrote: »

Rhino wrote: »

I wouldn't have paid it with a credit card, but I might just be paranoid about that kind of stuff.

With a credit card you can dispute the charge or do what's called a 'charge back'. So, if they turned out to be scammers, you could call your CC company and reverse the charges. If you paid cash or check you would of been out of luck. (well, some banks might let you put a stop payment on your check if you were quick about it and don't mind paying their 'convenience' fee)

I'm aware of that. What I'm afraid of is them keeping a credit card number on file and using it to pay off a future debt without permission.

That's why you use a credit card. The money's not gone like it would be if you had used debit, so if you see an unauthorized charge in the future you call your provider and dispute it.

MushroomStick

If they don't have a credit card number on file, you may never have to dispute it. A year or two ago I had a problem where a satellite tv company suddenly decided I was a customer and took it upon themselves to charge my credit card for my convenience. If had never used a credit card to pay years before when I was a customer, they never would've been able to do that. I recognize that collection agency as one of the ones a hospital around here uses when they try to double bill people, so if I were to have legit fee owed to them, I would pay with a money order/cashiers check or something.