Report: NCO Financial Systems
Category: Credit & Debt Services
NCO Financial Systems ripoff harrassing threatening verbally abusive non stop phone calls inaccurate information Philadelphia pennsylvania
*Consumer Suggestion ..Not ALL of them
NCO Financial Systems
Fax:
Philadelphia, Pennsylvania, 15239
U.S.A.
Submitted: 8/20/2003 10:37:29 AM
Modified: 12/3/2005 11:10:38 PM
Heidi
pittsburgh, PennsylvaniaI am trying to reconcile my credit so i called nco financial to try to make some payment arrangement with them. I was greeted by a Mr. Vargas that spoke like he was the man from.i think it was hot wheels. Anyway, he proceeded to ask me why i haven't paid my bill and i told him i had fallen on hard times. I asked him about making some sort of payment arrangements to which he cut me off by saying he had no authorization to accept payments from me. Meanwhile the letter that i had recieved was a letter informing me of my debt stating two options i can pay blank amount by blank date. Number two was i haven't paid because blank. This totally baffled me when Mr Vargas kept stating that i had to pay this debt IN FULL when i had received this letter stating otherwise !!!Then Mr Vargas proceeded to tell me that they reserved the right to sell my case to whoever they want and law suits could be filed against me. I proceeded to tell him that i did not have a money tree in my back yard to which he said well not too many people do ma'am. Then he rattled off some more of his littany about how much interest could be accrued and i could end up having to pay even a higher amount if i didn't pay the whole amount within twenty four hours. He then proceeded to try to get the creditor on the line on a three way call to no avail. He then had me answer questions about filling out a hardship form if i had any savings accounts or bonds. He then said well can't you borrow the money from one of your relatives?? ...i said no one has any extra money to give me sir. Then i tried to say how i was able to make settlement payments with another credit to which i had the same balance to which he interrupted by saying you were very lucky cause very few companies will do that and then i said well i could sent you these monthly payments to which again he replied i have no authorization to make any payment arrangements with you as per my client which i guess is the person who took over the case after my original creditor went bankrupt. YES BANKRUPT. I said to Mr vargas it is not my fault that these people went bankrupt and i'm forced to pay this in full to which he replied well don't be suprised to have one or more law suits on my hands. To which i replied they can sue me all they want they would only get what i owe them if i still owe them at all. I was told by more than one person if a creditor goes bankrupt i do not owe them a dime and that i should talk to a lawyer. I actually don't know who to believe or what to think at this point. My dad offered to pay the bill in full for me but i don't want what has been happeneing to others to happen with me. Back to the story then he is still flapping his lips (while i'm talking) saying 'you can tell me till you are blue in the face that you are going to pay this bill and we have no way of believing you' To then he said he will knock off about 800 dollars interest off the balance if i paid the remaining in twenty four hours...and then he has the nerve to ask me who owns where i live!!!! I said my apartment company does. To then he says this needs to be resolved right away and you need to make a payment within 24 hours or you will have a law suit pending. I proceed to say you know what i have heard enough and i can tell you right now i do not have the money to pay this in full and then threatens me by saying well we will find you and we will get our money! I had this happen on monday and then he left a message tuesday and today which is wenesday. My boyfriend even called him and after him confronting him about harassing me he said well those are just allegations and that he has no proof!! and hung up on him. I called the people who handled the account after my original credit went Bankrupt and they can't do anything cause it is out of they're hands. Then i decided to look these guys up on the internet an i was so suprised how many other people have complained about them and even had law suits where they illegally took money from there account. I am scared that if i pay this ...that it will never come off my credit report with all this scamming they are up to.
If anyone has suggestions please post them.
thanks!
Heidi
pittsburgh, Pennsylvania
U.S.A.
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Updates & Rebuttals:
- Some info to help April [8/21/2003 9:41:08 AM]
- Not completely but partially untrue Fernando [10/14/2003 10:42:37 AM]
- Give us some details Mike [10/14/2003 5:08:57 PM]
- Fernando, you are incorrect on one point. Abused Consumer [10/16/2003 5:11:48 PM]
- NCO are violators of the Fair Debt Collection Practices Larni [11/11/2003 2:49:03 PM]
- More Info. on NCO K [11/30/2005 12:14:22 PM]
- Eliminating NCO Financial Steve [11/30/2005 4:54:47 PM]
- Not ALL of them Jill [12/3/2005 8:43:32 PM]
Some info to help
Heidi, here are some things that should help. First, unfortunately, depending on what type of bankruptcy was filed, normally you do still owe the balance.
Secondly, NCO is unscrupulous is demanding money. They DO NOT sell your information to anyone, Mr. Vargas is lying. You see, if they sell you info for others to collect, then they get no kick-back and NCO would not have that.
If you received a letter from them stating that you could pay a settlement amount and NCO is the listing company, they have to abide by this letter.
Do not listen to the 24 hour BS, they must provide you with 30 days. You can also send them a letter explaining why you do not owe this or that and they can not proceed at that point.
Tell them you know this, NCO will probably not listen, they tend to think they’re above the laws.
Here’s some good information to help you from this point. If this is a credit card account or similar, they can only sue you for the original balance and court costs, nothing more, no interest, nothing, plus you can go into court and protest this bill. However, it will NEVER come down to this. Now, NCO will place this on your credit report no matter what. But, if you pay the balance asked for, you then send a letter to the CRA (Credit Reporting Agency) and tell them it was paid. The CRA will then have to check the information you give them out and once they see you are in the right, it has to be removed in accordance to FTC rules.
As for the unwanted phone calls and threats of a lawsuit etc., this is what you do: The FTC’s web site at www.ftc.gov has a listing of the Fair Debt Collections Act. You’ll want to thoroughly look over this Act. In it they explain what a collection company can and can’t do in complete details. To some it up, they can not Harass you (this includes phone calls, language and threats), they can not make false statements (indicating you will be sued or they will come get their money), they can not make statements of any type of action they will use (they can not and do not), they can not give out false information to anyone including the CRA, they can not use false names or false looking documents, and they can not obtain unfair practices (this would include a balance greater than what is due). Definitely check out the FTC’s web site and look this up, you should also print a copy so you have it on hand if they call back.
If you tell them to stop calling and they do, go back to the FTC’s web site and file a complaint. You can also file a complaint with your states Attorney general for them not following the FDC Act. I wish you luck, and let us know how it goes.
Submitted: 10/14/2003 10:42:37 AM
Modified: 10/14/2003 9:31:00 PM
Fernando
New Orleans, LouisianaU.S.A.
Not completely but partially untrue
As an experienced account manager who has many years of knowledge in debt collection and also as a manager at Equifax. it is only fair to give truthful information that can be useful to the affected individual. NCO only reports information to credit reporting agencies that is supplied to them. NCO does not 'purchase' delinquent debt, but rather collects it at the request of the creditor. If there is any derogatory information placed on a credit report, it is because the creditor has placed it there. While NCO may report that an account has been placed with them, it is up to the original or current creditor to update that information once the matter has been resolved.
The person who replied that if a lawsuit was initiated due to a past due debt would only be for the original amount is totally false. If a creditor decides to spend money (which most do not want to do) to sue a former customer,then the original agreement will have a heavy bearing on that. These agreements usually state that if and when collections or legal action becomes necessary, then the customer would be responsible for those costs. The agreement also usually states what late fees are and interest that can be applied to delinquent debt. This is usually the part of the contract that most consumers fail to read when signing or agreeing to it since some are excited to have received the card. Be very careful when opening a credit card account to read ALL of the statements because it is those statements that, when enforced, make the consumer feel that they have been wronged. Also, just because a company goes bankrupt, does NOT mean that the debt is forgiven. Depending on the type of bankruptcy, the debt can be placed with a collection agency by either the court trustee or a reponsible party of the bankrupt company. Bankruptcy only gets the bankrupt company out of their debt, not their customers. It is THAT debt that has to be repaid to the secured vendors and others of that bankrupt company. So at times, you can expect a very aggressive attempt to collect it. And at the same time, you may be able to save a couple of dollars by settling the debt, which may be easier to do since the creditor's financial situation may not warrant a lawsuit.
At no time is it EVER acceptable for a collector to demean or harrass an individual in the pursuance of collecting a debt. But, at the same time, the customer needs to be aware that the collector is only enforcing the agreement the the CUSTOMER themselves had agreed to. And since morals and respect seem to be very important to most of the peopel I had encountered, then that same respect should applied to the original creditor, who without your payments, could potentiallyy go out of business. No company, or individual for that matter, intends to loan money with no expectation of being repaid per the agreement that both parties agreed to.
If you are ever harrassed, then you do have recourse. You can file complaints with the your state Attorney General, which will usually get the collection agency's attention immediately. You can also file complaints with the FTC. But be aware thatunsubstantiated accusations will get you nowhere. You may need proof of your harrasment, ie., messages recorded on your machine, recorded conversations (Be wary of you state laws governing this method), or actual paperwork that has been sent to you.
The claim that NCO recieves 'kick backs' for not selling information is completely unfounded. NCO collects delinquent debt for OTHER companies. That is how the majority of its money is made. NCO can not be labeled as a 'rip-off' if they are not receving any money from you that wasn't already owed to one of NCO's clients. Many people, on the debtor end of the spectrum, associate all of their hostile feelings towards the collection agency because that agency has the undaunting task of calling individuals because of the past due debt. Making threats to a collector, or saying that the bill will never be paid, will not affect the collector at all. Only you, because it is your credit. If you really want to take revenge on a harrassing collector, then handle the debt with him in as nice a manner as possible, then take any complaints that you have to the entities aforementioned. That way you can show that you did everything in your power to resolve the matter amicably.
Give us some details
How old is the account? When did you make the last payment to the last collector?
It seems to me that this is an old debt, and if it is more then 4 or 6 years old, you maybe past the Statute of Limitations, and you bon't need to pay a thing.
First you need to chech the Credit bureaus Equifax, Experian, and Trand Union to see if this debt show up. If it does not sho in any report, it has more then likely gone away, or was never filed because the original creditor went bankrupt.
What they are doing to you is extortion,and is not in line with the Fair Dept Collection Practices Act.
They must tell you that they have authority to collect on this alledgd debt or proof of acquisisition by purcchase or assignment. If they don not then they are just collecting money for them self and not to pay the debt.
It is leagal for them to do this, but by no means are you obligated to pay them. More then likely the debt has been charged off (meaning the company the held the account charged off the debt as bad debt on there taxes), after wich they only have somay years to collect on the debt befor the S.O.L. sets in place.
Then people like NCO, or CAMCO, pick up thes old debts for pennies, and try to collect.
No wher you have them if this is true is that they have obtained you credit recored illeagley under the FTC rules this is called 'PRETEXTING.'
First thing you need to do is go to this site
is send NCO this letter:
---
DATE
YOUR NAME & ADDRESS
COLLECTORS NAME & ADDRESS
ACCOUNT # AND INFORMATION
To whom it may concern:
This letter is being sent to you in response to our recent communications.
This is a notice that your claim is disputed.
Under the Fair Debt Collections Practices Act (FDCPA), I have the right to request validation of the debt you say I owe you. I am requesting proof that I am indeed the party you are asking to pay this debt, and there is some contractual obligation, which is binding on me to pay this debt.
Your legal staff will agree that compliance with this request under the laws of California and Federal Statutes.
In addition to the questionnaire below, please attach copies of:
1. Agreement with your client that grant you the authority to collect on this alleged debt, or proof of acquisition by purchase or assignment.
2. Agreement that bears that this letter is not only a formal dispute, but a request that you cease and desist any and all collection activities.
3. I require compliance with the terms and conditions of this letter within 30 days, or a complete withdrawal, in writing, of any claim.
In the event of noncompliance, I reserve the right to file charges and/or complaints with appropriate County, State & Federal authorities, the BBB and the State Bar associations for violations of the FDCPA, FCRA, and Federal and State statutes on fraudulent extortion.
I also reserve my right to take private civil action against you to recover damages.
TPYPE YOUR NAME (DO NOT SIGN)
_________
Debt Validation Form
Questionnaire to be returned:
Account #: ______________________________________
Original Creditor’s Name: _______________________________________
Name of Debtor: _______________________________________________
Address of Debtor: _____________________________________________
Balance of Account: _____________________________________
Date you Acquired the Debt: _______________________________
This Debt was: Assigned______ Purchased_______ (Check all that apply)
Please indicate any credit bureaus to which you have reported on this account:
Experian _____
Equifax _____
Trans Union ____
THEN IF YOU DONT LIKE WHAT THEY SAY AND YOU THINK ITS B.S. send them this letter:
To whom it may concern:
You are hereby notified under provision of public laws 95-109 and 99-361, also known as the Fair Debt Collection Practices act, that you are to CEASE AND DESIST from any further collections, your services are no longer needed. I have a right to remain free from intimidating, manipulative and high-pressure tactics, and we will take the responsibility upon myself to protect that right. Note that a copy of this letter and a record of its delivery will be stored. Note too that it is admissible as evidence in a court of law and will be used as such if need be in the future. This is your final notice.
Your organization may no longer contact me in any form concerning the above referenced account number. I will only settle this account with the original creditor.
Failure to comply with this law will result in my filing a complaint with the Federal Trade Commission and my state's Attorney general's Office along with the (THER STATE) Attorney Generals Office and the District Attorney’s office in your county. I will be detailed and pursue all criminal and civil claims against you and your company. I will also document all contact and record all conversations to enforce these laws.
Please be advised that in any event – even if this were a legitimate debt- this debt is barred from collection by the (YOUR STATE) Statute of Limitations,
BEWARE: Any further efforts by your firm to collect this unsubstantiated debt, including the sale or transfer of this “debt," will result in a complaint filled under the, THE RACKETEER INFLUENCED AND CORRUPTIONS (RICO) ACT, 18 U.S.C. 1961-68 (1994)
If any negative credit information is placed with any credit reporting bureau by your company after the date of your receiving this Cease and Desist letter, a law suit against you and your company for all legal remedies afforded me by law will result.
(TYPE OR WRITE YOUR NAME DO NOT SIGN)
SEND THE LETTERS BY CERTIFIED MAIL WITH RETURN RECEIPT.
GOOD LUCK
Submitted: 10/16/2003 5:11:48 PM
Modified: 10/16/2003 10:29:17 PM
Abused Consumer
Anytown, MinnesotaU.S.A.
Fernando, you are incorrect on one point.
NCO Financial DOES buy debts.
My dispute with NCO Financial was over a Capital One credit card. After being called names and screamed at by an NCO employee, I called Capital One and they told me that there was nothing they could do, that the account had BEEN SOLD TO NCO Financial, and Capital One no longer had anything to do with the account and could not intervene because they no longer owned the account.
NCO are violators of the Fair Debt Collection Practices
I was just wondering. I'm having to deal with NCO also and they are very rude, unprofessional, and have been harrassing. NCO has been harrassing my mom who lives in a different state. They leave nasty and threatening messages to her in hopes that it will get to me and I believe the first person to contact her was Mr. Vargas. Since there have been so many complaints against NCO, why hasn't any legal action been taken against them. Or why hasn't the FTC done something about them? They obviously have violated the Fair Debt Collection Practices. And Fernando, who obviously is in the business of collections, is of course siding with NCO and making the ones being harrassed feel more miserable about their situation. Yes, NCO does purchase these uncollected debts for their own gain. NCO reps are liars and can't get their information straight from one representative to another. Something definitely needs to get done so that NCO, who is in business for themselves, can go out of business.
More Info. on NCO
I have had the 'un'pleasure of dealing with NCO in the recent past. I will definitely agree that debt collectors are rude (no matter which company they work for) and NCO is no different. I feel that they reason they 'dig in' so deep when they finally get a consumer on the phone is because they are avoided most of the time. So yes, the threats are made to try and force you to pay. However, it was my experience that I really did owe the debt they claimed. NCO's esquire - Ms. Meika Dorsey - was very rude and talked down to me and tried to scare me with every lawsuit imaginable. However, I held my ground and told her that her making threats would not make the money magically appear in my account. I was willing to make arrangements and from that point we were able to get through the two months of payments and dealt with each other.
We must remember that if we owe the debts - it is OUR responsibility to pay them. No one is taking sides here. NCO (and others) should not harrass, demean, and hang up on consumers - but how would you feel if your paycheck was based on how much money you collect from people who have learned to avoid debt collectors? You'd be a little aggrivated too!
The only way to avoid this situation is to pay the debts and stay out of debt. Until then, make an arrangement and if they say that it's not possible, stop answering the phones until they leave a message saying 'lets make an arrangement'. An arrangement is ALWAYS possible. Believe me, I've made at least 6 in the last 4 years.
Eliminating NCO Financial
This is really simple. The first time you get a call from any debt collector, especially NCO, just do what I did.
Get the persons name, and the address and fax# of the debt collector. Prepare a letter and request a cease of communication as per the provisions of the FDCPA.
Send it by certified mail/ return reciept requested. Also fax one with the certified # on it.
Then every time they call, got to the FTC website and file a complaint. EVERY TIME! Then fax a copy of the complaint to them every time you make one.
I got NCO off my back on the third day from when they started calling.
Good luck
Not ALL of them
This is in response to K of Ellenwood GA
You wrote 'I will definitely agree that debt collectors are rude (no matter which company they work for)'
Well I beg to differ with you on a few notes:
I, myself, am a debt collector. I am not rude, I am not forcefull. I work for a well known company and have helped quite a few people out based on past and present experiences. I have been and am still in collections myself. I have been told numerous times 'thank you for being so kind/understanding' or 'you are one of the nicest bill collectors I have had to deal with'. I try to identify with the debtors. There has been many a time when I have just sat and laughed and chatted with debtors even when they tell me they can't pay until next month.
Now, onto NCO. I will agree 100% with the posts that I have read. NCO is on my credit report. My Banko was discharged back in Feb and NCO is still reporting it as due. This is NOT NCO's fault, it is the clients that placed the account there. Anyway, I called NCO only to get hung up on 6 times without them even answering the phone. When I finally DID reach someone, a snotty woman told me I couldn't speak to her supervisor because 'he was on the phone'. I questioned the fact that she only had ONE higher up in her office. We at my office have at LEAST 3 and then half the day we have 5! And they are ALWAYS willing to take the call!
READ the FDCPA and take notes on EVERYTHING. If you have to, find a way to record those calls or keep those 'nasty messages'. The Atty General will just at EVERY chance to investigate.
Another thing to remember, debt collectors have 'goals' to reach. Of course at the end of every month they are going to get a little pushy (God forbid the mean ones get meaner).
Yes it IS legal to use Alias's. We are licensed Debt Collectors with the State of Minnesota and on the license application it tells you to list your ALIAS (if applicable). The thing is, you have to use that Alias for as long as you continue to use your license. You can't be Stella Shwartz one day and be Betty Lou the next.
My MAIN point(s) here is
#1 Not ALL collectors are rude
#2 READ the FDCPA and your STATE LAWS to become familiar with YOUR rights as a debtor!
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