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  • Report: #160157

Complaint Review: NCO Financial Systems

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  • Submitted: Mon, October 10, 2005
  • Updated: Thu, November 10, 2005

  • Reported By:Orlando Florida
NCO Financial Systems
507 Prudential Road Horsham, Pennsylvania U.S.A.

NCO Financial Systems, RIPOFF Claiming interest is owed on an account paid off and closed YEARS ago! Horsham Pennsylvania

*Consumer Comment: Matt You Are Incorrect

*Consumer Comment: Matt You Are Incorrect

*Consumer Suggestion: Matt is incorrect

*Consumer Suggestion: If They Don't Purchase Them, Where Do You Think They Come From?

*UPDATE Employee: Maybe you should ask

*Consumer Comment: similar situation

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If nothing else, I was very relieved to see that we are not the only consumers that NCO has tried to rip off!

We received a letter from them this past week that states we owe $50.00 in interest on a credit card that was paid off in full and closed many, many years ago. (So many years ago that it doesn't even show up on my husband's credit report anymore...) What I truly found interesting was NCO's "calculation" of the interest: No Principal Balance, but $60.00 in interest. Funny, but last time I checked, if there wasn't a balance to charge interest to, there was no interest to be paid. Hmmm, simple deductive reasoning... it's an amazing tool!

Needless to say that after reading the vast amount of horror stories here and what others have had to contend with while dealing with NCO, we are taking the bull by the horns and stopping this situation immediately. We're mailing out a validation of debt tomorrow and seeing what kind of reply we get. How in the world can we owe interest on an account that doesn't even exist anymore? Where does this company get off thinking that consumers are just going to fork over money to them without questioning the reason behind it?

NCO just picked the wrong consumers to try and scam...we are the type of consumers they hate... we are informed and actually question things!

Theresa
Merritt Island, Florida
U.S.A.

This report was posted on Ripoff Report on 10/10/2005 09:54 AM and is a permanent record located here: http://www.ripoffreport.com/r/NCO-Financial-Systems/Horsham-Pennsylvania-19044/NCO-Financial-Systems-RIPOFF-Claiming-interest-is-owed-on-an-account-paid-off-and-closed-160157. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 6Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Matt You Are Incorrect

AUTHOR: Sherry - (U.S.A.)

NCO DOES buy debts and once they have yours you can no longer deal with the original creditor.

I had a run in with them several years ago over a Capitol One credit card. I tried to deal with Capital One instead of NCO and they said it was out of their hands, that I had to deal with NCO because "They now own the account".

Please, if you can't post correct information, best not to post at all and confuse people who are already confused enough from dealing with these abusive criminals.
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#2 Consumer Comment

Matt You Are Incorrect

AUTHOR: Sherry - (U.S.A.)

NCO DOES buy debts and once they have yours you can no longer deal with the original creditor.

I had a run in with them several years ago over a Capitol One credit card. I tried to deal with Capital One instead of NCO and they said it was out of their hands, that I had to deal with NCO because "They now own the account".

Please, if you can't post correct information, best not to post at all and confuse people who are already confused enough from dealing with these abusive criminals.
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#3 Consumer Suggestion

Matt is incorrect

AUTHOR: Dawn - (U.S.A.)

First of all, a validation of debt is a letter that is sent NCO to validate the debt, validate usually means stating when, how, what is owed. This is SUPPPOSED to come from the original creditor. Since NCO bought this debt the burden of proof lies with them, not the consumer. As a previous poster stated, start a paper trail and press record. NCO will screw up and when they do, they will wind up owing you far more than what they claim you owe.
To Matt, I dont know what rock you have been hiding under but I am assuming as a collector you should be able to read and comprehend very well. Your employer is on the FTC's radar and disaster's only a phone call away. Start reading about how many times NCO has knowingly and willingly broke the law ......but before you toss out the newspaper, start looking for another job because at the rate this company is going, the FTC will finally succeed in a mission that should have been accomplished ages ago.
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#4 Consumer Suggestion

If They Don't Purchase Them, Where Do You Think They Come From?

AUTHOR: S.n. - (U.S.A.)

Oh, wait! I know! The Debt Fairy leaves them on their doorstep in the middle of the night. Right? Who told you NCO,now merged with the just as bad RMA, didn't buy debts? And do NOT listen to Matt. You don't want to talk to these people on the phone unless you are recording the call (check your state laws). It is not up to you to prove that it is not your debt, it is up to NCO to prove that it is your debt. Send them a letter, certified mail return receipt requested, demanding validation of the debt. Keep copies of everything, start a paper trail, and if it is not your debt, make sure they remove it from your credit report. Check your state laws for statute of limitations and statute of repose. If they contact you by phone or by letter wanting your personal information, do NOT give it to them. If they put something on your credit report, they should already have that information. Good luck.
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#5 UPDATE Employee

Maybe you should ask

AUTHOR: Matt - (U.S.A.)

Maybe did you ever think of calling and asking that simple question. NCO dosen't typically purchase accounts. So actually its the creditor that has crarged you intrest. Requestion a validation of debt will just cause NCO to send the account back to the creditor. The account will then be placed with another agency that has a similiar contract. This will just cause another inquiry on youre credit report. I suppose calling and asking why the debt is owed would be to tough though.
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#6 Consumer Comment

similar situation

AUTHOR: Joe - (U.S.A.)

I'm having a similar problem with NCO over $16.00. I found NCO has been reporting me with the Credit Bureaus for $16.00. I have never received phone calls or letters. I disputed this with the Bureaus only to have them respond "The creditor has confirmed the debt." I've called NCO three times and after being given 4-5 different phone numbers to call, they can't find anything saying I owe them $16.00. I re-disputed this with the bureaus, and they responded with "The creditor has confirmed the debt." This is absolutely insane. My credit is suffering for $16.00 (that's SIXTEEN DOLLARS!)
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