• Report: #236069

Complaint Review: NCO Portfolio Management

  • Submitted: Thu, February 15, 2007
  • Updated: Mon, May 14, 2007

  • Reported By:Tucson Arizona
NCO Portfolio Management
PO Box 15630 Wilmington, Delaware U.S.A.

NCO Portfolio Management - NCO Financial Services ripoff NCO trying to collect debt of almost 10 years Wilmington Delaware


*Consumer Suggestion: Try this method

*Consumer Suggestion: Debt Colllecting isn't always in black and white

*Consumer Suggestion: Correction on SOL in AZ on OPEN ENDED accounts

*Consumer Suggestion: Statute of Limitation

*Consumer Suggestion: Check the statue of limitations for your state.

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I had a really bad year back in 1998. I was injured and had to go in for a 37K knee surgery. After recuperating from that, I walked into work to find out that I had lost my job. I had many credit cards, a house, and a new truck to boot. Well, guess what... It was all taken away. The house, truck etc, it was all gone. After 7 months of healing and trying to get back on my feet... the creditors started in. I tried to hire an attorney to help me deal with this,... and sure he took my $500 bucks, and then filed for chapter 11 himself. I tried to file bankruptcy on my own, but was forced to move since I lost the house, and the judge threw it out of court because I was moving to another state.

Now, all of my creditors have let it go, except for Sears. They turned me over to NCO, and now I come home everyday with about 5 hang up calls on my machine. Weekends, holidays, they just wont give up. I was wondering why this was happening, and then I got a letter in the mail from NCO. They stated that they were trying to collect this debt from Sears, and I owed over 4K. This is total bull, because everyone knows that Sears charges extremely high interest rates. So they were willing to settle the debt for about 1/2 of the amount. I thought that after 7 years... they would have to give up? Have any imput for me on this? I got a copy of my credit records from Equifax, Trans-Union and NCO was right on there. My credit is good, except for this on there. This is not right, and these people should be dealt with. I have had to rebuild my life since then, and I have a thorn in my side with NCO.

Tucson, Arizona

This report was posted on Ripoff Report on 02/15/2007 07:55 PM and is a permanent record located here: http://www.ripoffreport.com/r/NCO-Portfolio-Management/Wilmington-Delaware-19850/NCO-Portfolio-Management-NCO-Financial-Services-ripoff-NCO-trying-to-collect-debt-of-alm-236069. 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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#1 Consumer Suggestion


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

Here is a sample letter from an online privacy rights organization. You need to send this letter to the agency certified return receive requested with the cert number ON THE LETTER ITSELF TO PROVE WHAT WAS CONTAINED IN THE LETTER .... DO NOT SIGN THE LETTER because your signature can appear on documents you never signed ...
Your Name
Mailing Address
City, State, Zip


Name of Collection Agency
Mailing Address
City, State, Zip

CERTIFICATION NUMBER: ________________

Re: Dispute of Collection Action: Case # ________

[If the collection agency has sent written notice, your case number is likely in the letter. If you have not received a written notice from the collection agency, tailor this line accordingly. For example, show the date you were contacted by the collection agency and/or identify the creditor by name if you can.]

To [person whose name appears on agency's notice to you]:

On [date] I was contacted by [name of person who called you] of your agency, who informed me that [name of collection agency] is attempting to collect [amount of claimed debt]. This individual is collecting on behalf of [name of creditor]. [OR] This individual would not tell me for whom you are supposed to be collecting.


On [date] I received a written notice of the claimed debt, a copy of which is attached.

This is to inform you that I dispute the debt because [insert reason for dispute, e.g. the agency has confused you with someone else or the debt was paid. Include copies, not originals, of any correspondence that proves your point]. I am hereby requesting that you confirm the fact that I owe this debt as required by any applicable state and federal laws. Please contact the creditor to obtain verification.

In addition, under the provisions of state and federal Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), and related consumer statutes, I am hereby instructing you that you are to cease collection of the debt while efforts are made to obtain verification. Until you resolve this error with the creditor, you should neither contact me nor anyone else except the creditor about this collection.

Furthermore, any reporting of this matter to a credit reporting agency is premature. Until you have investigated my dispute, you should not relay negative information to a credit reporting agency. If negative information has already been reported, you will need to notify the agency to remove said report until the investigative process is over so that my credit report remains accurate, or at the very least, my credit report should be updated to reflect my dispute.

Your next contact with me should be either notice that the creditor has failed to provide verification of the debt and that the matter has been closed or that you believe that this debt is valid and are providing proof of my responsibility. If the former, please confirm that I am not being held responsible for the debt in writing and also that if the account has already been noted on my credit report, that you will contact the bureau(s) in question to have the account removed. If the latter, I expect that you will provide me with an explanation as to why you have decided not to remove this account from collections and a copy of all documents relevant to the debt such as the application, bills, records of communications and payments, and any other data that indicates my responsibility.

I am instructing you not to contact any third parties such as my employer, neighbors, friends or family members. In addition, you may not contact me by phone at work or at my home about this collection activity. All future correspondence should be sent to me in writing.

[If you want to still speak to a collector by phone, indicate times when it is okay to contact you or note the name, address, and phone number of your attorney, if you have retained one.]

I look forward to your acknowledgement that you have received this notice by [date that is two weeks from date of letter].

print or type your name ....
Additional info from privacy group ...

What happens after I dispute a collection?

After you file a dispute, the collection agency then must stop collection efforts until it has conducted an investigation. This means the debt collector cannot put the debt on your credit report. It must validate the debt by obtaining a verification of the debt or a copy of a judgment from the creditor. A copy of documents that verify the bill should then be mailed to you.

((GENERAL THOUGHTS ON THIS BOARD: THE BURDEN OF PROOF IS ON THE COLLECTION AGENCY. DO NOT SEND THEM ANYTHING TO EXONERATE YOURSELF. THIS WILL COME BACK ON YOU MORE THAN LIKELY) Some accounts, even though properly disputed with one collector, may be sold to another. This can happen years after you have successfully disputed an account. ((If this happens go through the process again.)

This makes it all the more important to create a record of your experience with the prior collector. Keep your file indefinitely, especially if it contains correspondence that states you are not responsible. State law may keep a collector from suing you after a given period of time. However, there is no statute of limitations on collection efforts. What you thought was a closed file, may later come back to haunt you.

How long does the collection agency have to conduct its investigation?

There is no set time, but, again, the collection agency cannot resume collection action unless it confirms the debt.

May a debt collector report negative information on my credit report?

Yes. However, collection agencies are not consistent when it comes to reporting. Some collectors report only larger collection amounts while others report all collections. For a discussion about inconsistent reporting and other issues that arise when collectors report to credit bureaus, see the Federal Reserve Board Study, Credit Report Accuracy and Access to Credit

If you dispute a debt with a creditor or a collector, any notation on your credit report should also state that you dispute the debt.


you also need to visit budhibbs.com on NCO .... you are not alone ....
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#2 Consumer Suggestion

Try this method

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

Look. Of course you need to give them the line saying SOL has expired... However, if they keep calling, then get a whistle and when they call and start speaking to you, blow the whistle in their ear... After a few trials of that, they will stop calling all together..

I hope that helps..
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#3 Consumer Suggestion

Debt Colllecting isn't always in black and white

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

I'm not sure exactly how long it is that you have not been making payments on this account so answers vary. One variant is the laws of the state where you live. Usually what they can do to collect and how long they can due it depends upon your state.

I'm lukcy in a way I live in Delaware and for an unsecured debt like a credit card they can try to collect as long as they want to, forever if they feel so inclined. But there is a statute of limitations on how long they have to take you to court and sue you. The reason I'm lucky I live in Delaware if I was in this situation the lender/crediter can't sue me after 3 years has gone by. They can write letters, send me bills and call me about the bill forever if they feel so inlined.

Reality though is after the statute of limitations is up there isn't much left that they could do. However if they were lucky and you decided to make a payment one month before the statute expired then the time limit would start all over.
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#4 Consumer Suggestion

Correction on SOL in AZ on OPEN ENDED accounts

AUTHOR: Steve [Not A Lawyer] - (U.S.A.)

The SOL in AZ on revolving credit accounts such as the Sears credit card is 3 years, NOT 6.

Brian, the 7 year thing is only for the negative reporting to the credit bureau, and has absolutely nothing to do with SOL on collections.

NEVER speak to ANY collector on the phone and never even discuss settlement as it can restart the SOL as an agreement to pay.
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#5 Consumer Suggestion

Statute of Limitation

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

Once the Statute of Limitation has expired (6 years in Arizona), they can not sue you to get payment on the account. They can still attempt to collect on it now, and 20 years from now. If you make a payment to them, they do make lots of profit on it, as they probably bought the account for a few cents on the dollar. They are debt collectors and most of them do not give up easily. I would suggest sending a validation request. The debt is getting older and harder to validate by the agency.
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#6 Consumer Suggestion

Check the statue of limitations for your state.

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

Normally the statue of limitations is 2-6 years (a few are 10)from the last payment reciept on collecting these types of debts. It varies from state to state: credit-repair-specialist.com/debt-collection-statute-of-limitation.html
The one for Arizona is 6 years, so they have no leagal right to continue trying to collect from you if it has been longer than 6 years since your last payment. Many collection agencieas dont want you to know this.
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