Author Topic: NCB Management Services - reporting to credit vs. 1st contact  (Read 268 times)

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Bulldog15

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My husband had a loan with Republic Bank - defaulted - it went to collections with NCB Management Services.  He had 1st verbal contact with them on 5/22/2017, got his dunning letter on 5/30/2017.

Got an alert today that a new collection had been added to his credit report.  It's NCB Management Services. 

That seems awful quick - is there a timeframe that regulates how quickly a collection agency can report a negative to your credit report?

Anyone have any experience with NCB Management Services? 

nobk4me

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #1 on: July 15, 2017 09:41:07 PM »
Yes.  I found they did little more than poison the credit report.  I may have received a letter from them, but they were not aggressive at collecting at all.
Molon labe

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BellEbutton

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #2 on: July 16, 2017 04:31:26 AM »
My husband had a loan with Republic Bank - defaulted - it went to collections with NCB Management Services.  He had 1st verbal contact with them on 5/22/2017, got his dunning letter on 5/30/2017.

Got an alert today that a new collection had been added to his credit report.  It's NCB Management Services. 

That seems awful quick - is there a timeframe that regulates how quickly a collection agency can report a negative to your credit report?

Anyone have any experience with NCB Management Services?

There is no time frame if the account is indeed in default.

CleaningUp

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #3 on: July 17, 2017 01:41:22 AM »

...I found they did little more than poison the credit report.  I may have received a letter from them, but they were not aggressive at collecting at all....



Until the FCRA is somehow changed to limit the reporting of outstanding debts to the CRAs, they will be entitled to do it.

I think we better serve our newbies by not whining too much about things that we cannot change.  This is one of those items that, as emotionally committed to it being "unfair", will remain so either until someone comes up with a winning argument that establishes its unfairness thus drawing it under the consumer protection laws of the states or the Congress passes the statute.

Perhaps we can use this as an opportunity to come up with the argument that will win in the courts.


Bruno the JDB Killer

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #4 on: July 17, 2017 12:53:42 PM »
FCRA Section 605 (c) Running of reporting period.

(1) In general. The 7-year period referred to in paragraphs (4) and (6) ** of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

Bulldog15

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #5 on: July 17, 2017 04:52:36 PM »
FCRA Section 605 (c) Running of reporting period.

(1) In general. The 7-year period referred to in paragraphs (4) and (6) ** of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.

Bruno - Would you mind to throw some layman's terms for this on me?  I'm not sure I 100% understand what is being said here.

Bruno the JDB Killer

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #6 on: July 17, 2017 08:11:53 PM »
It tells you when the reporting period starts. No layman terms needed.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

nobk4me

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #7 on: July 17, 2017 10:54:12 PM »

Until the FCRA is somehow changed to limit the reporting of outstanding debts to the CRAs, they will be entitled to do it.

I think we better serve our newbies by not whining too much about things that we cannot change.  This is one of those items that, as emotionally committed to it being "unfair", will remain so either until someone comes up with a winning argument that establishes its unfairness thus drawing it under the consumer protection laws of the states or the Congress passes the statute.

Perhaps we can use this as an opportunity to come up with the argument that will win in the courts.

I wasn't whining.  Frankly, I was GRATEFUL that all they did was report negatively on my credit reports, which they were entitled to do, as the account was in default.  Apparently they are a JDB, not just a CA, as they had a trade line.

My position is, if you default on a debt, your credit will get dinged.  To me, that's reasonable and fair.  But, creditors can do much worse, such as suing.  I am thankful they didn't, and was simply relating my experience in response to the OP's question if anyone had dealt with them.

Molon labe

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CleaningUp

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #8 on: July 18, 2017 01:22:38 AM »

I found they did little more than poison the credit report.



This is a statement of fact with a strong element of disdain.  To me that is whining.

nobk4me

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #9 on: July 19, 2017 10:15:00 PM »

This is a statement of fact with a strong element of disdain.  To me that is whining.

"Strong element of disdain"???

Read what the posts actually say, not what you think they say.

Molon labe

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CleaningUp

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Re: NCB Management Services - reporting to credit vs. 1st contact
« Reply #10 on: July 19, 2017 11:21:30 PM »
I did...  And came up with the same impression.   :vbrofl: