• Report: #752364
Complaint Review:

NCO Financial and Paul Reinhardt

  • Submitted: Wed, July 13, 2011
  • Updated: Thu, July 14, 2011

  • Reported By: bbertram — Brownsburg Indiana United States of America
NCO Financial and Paul Reinhardt
507 Prudential Road Horsham, Pennsylvania United States of America


*Author of original report: Wrong company, NOT NCO, NCB Management Langhorne PA

*Consumer Comment: Oh Boy.....

*Consumer Comment: Wow!

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In April 2009, Paul Reinhardt with NCO contacted me regarding an outstanding debt to Sovereign Bank. He stated that monthly payments of $2,000 per month for 20 months would pay the account in full, and that Sovereign would then consider it paid in full and would reflect this on my credit report.

I made all payments on time, and they were automatically deducted from my checking account.  These payments totaled $40,000!!!!  Upon making my last payment in October of 2010, I wrote NCO and Mr. Reinhardt a letter, requesting a paid in full letter, and proof that the arrangement I made was legitimate.  I have received nothing as of July 13, 2011.

Today, a second slimy collection company, FH Cann, contacted me and attempted to collect the very same debt.  When I informed them that it had already been paid, gave them the information necessary, they informed me that I would need to clear this up myself.  My intention is to sue NCO, Mr. Reinhardt and Sovereign Bank.


This report was posted on Ripoff Report on 07/13/2011 10:56 AM and is a permanent record located here: http://www.ripoffreport.com/reports/nco-financial-and-paul-reinhardt/horsham-pennsylvania-19044/nco-financial-and-paul-reinhardt-paid-40000-to-nco-and-now-another-debt-collector-is-tr-752364. 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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Updates & Rebuttals

#1 Author of original report

Wrong company, NOT NCO, NCB Management Langhorne PA

AUTHOR: bbertram - (United States of America)

Sorry, I reported the wrong company - it is not NCO but rather NCB Management.  Same scenario and same person involved.  Told me today they did mail out a paid in full letter (did not) and that somehow all of this is my fault because my final payment, due on November 30 and PAID ON NOVEMBER 30 was not made before noon and was actually debited from my bank account at 4pm.

I do not know how these people look at themselves in the mirror.
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#2 Consumer Comment

Oh Boy.....

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

My friend, this is going to a painful, expensive lesson for you in how not to deal with collection agencies.

- Assume that any promise over the phone about any sort of settlement or payment term is a lie unless the terms are first backed up in writing
- Always avoid getting on any sort of "payment plan" with a collection agency for any sort of large default like this. The way to pay such defaults is to settle for less all at once.
- Never give debt collectors your checking account #'s

In the end, you can't really prove that this debt was ever paid in full. You should have gotten all terms in writing first.
- By the way, NCO is a notoriously awful firm.
I suggest that you check out Bud Hibbs's website: http://www.budhibbs.com/
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#3 Consumer Comment


AUTHOR: Joseph Brown - (USA)

That's my reaction to your report. In the first place you didn't pay the original debtor, you paid a criminal organization. They got your money and are tickled to death they found another sucker which is why you haven't heard from them since they were "paid off."
NCO has one of the worst records as scam artists of any of the fake collectors. They also like to rip-off active duty and veterans, too.
If contacted by this other company just ignore the calls. I suggest looking up  Bud Hibbs for more info on this  and other collection companies.
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