Note to approver:
Already published in www.insidearm.com, https://www.usconsumerprotection.com, and gettheskinnyoncos.blogspot.com. It is also a news article, not a consumer review.
NCO Group Expands into Latin America with Acquisition
December 18, 2006
NCO Group, Inc., a leading provider of business process outsourcing services, announced today the completion of the acquisition of the assets of Star Contact (BVI) Ltd. and Call Center-Telemarketing Pro-Panama, S.A. (together "Star Contact"), based in Panama City, Panama.
Star Contact is Central America's leading provider of outsourced, multilingual contact center and customer care services to some of the world's best-known businesses. Joseph Fidanque, III, Star Contact's founder and President, will remain President of Star Contact and assume additional responsibilities as Managing Director of NCO's Latin American Operations.
Commenting on the acquisition, Michael J. Barrist, President and Chief Executive Officer, stated, "The Star Contact transaction presents NCO with a unique opportunity to continue our global call center expansion, and with Joe Fidanque spearheading our Latin American initiatives, we are poised to launch a complete service offering in Latin America that will include Customer Relationship Management (CRM), Accounts Receivable Management (ARM), and Purchased Debt."
Joseph Fidanque, III, commented on the transaction by stating that, "Star Contact, the first company to offer outsourced contact center services from Panama, is ideally suited to partner with NCO for expansion into Latin America. Star Contact's current mix of CRM services complements NCO's core competencies in Accounts Receivable Management and Purchased Debt offerings, and we are especially enthusiastic about the business opportunities in Latin America for these services. Mr. Fidanque also added, "A critical component to our success has been the quality of our employees and our management. Our unique corporate culture has allowed us to succeed in providing excellent services to leading multinational companies and achieve unparalleled client loyalty. NCO's global leadership will enable us to build upon our success and to profitably extend the NCO model to all the corners of Latin America."
Cypress Capital Advisors, LLC of Coral Gables, Florida, acted as financial advisors to Star Contact and Joseph Fidanque, III.
ALABAMA -- Here's the lkatest tactic used by NCO via the telephone line.
Place a call early in the morning with a "legal" message introduction "stating" it is requireed under the law. This Message will name the company, the purpose of the call, a RETURN NUMBER AND THE FILE NUMBER of the case.
Within minutes they will return a call using a "dial around number" which leaves NO message if the call is not answered.
Some of the dial around numberS will have a bogus "name" showing on your caller ID...such as "PENNSYLVANIA".
Other dial around numbers will not have a company name or any other name...just a phone number on the caller ID.
At least one of those dial around numbers is a PORNOGRAPHY COMPANY number.
Another dial around number lists a name and n umber, but the number traces back to an individual in our State that does NOT have the name listed on the caller ID
I'm just wondering how many businessnes and individual telephone number they have hijacked to use in their business of harassing both people who owe nothing and those who might owe a back debt?
Until EVERYBODY who receieve ANY kind of communications from this company and others like it, begins to put pressure on State and Federal legislator's (who are in bed with them) to write NEW laws to put them out of business, they will continue to violate they laws of the lands as the so please to do, without any consequences!
There should be a federal law written that forbids the second and third part purchasing of any debt after the initial lending party or agency has taken action to "write-Off" a debt. This is the business arena that our legislators protect and fail to write laws of protection for the consumer.
Binding Arbitration should be another issues addressed better by laws, for the credit industry. NOBODY should be put into a position of "voluntairly" giving up ANY constitutional protected rights such as have access to a State or Federal Court, for any kind of legal resolve! Especially when dealing with collection companies such as NCO and many other's, who are second and third party purchasers of written off debt.
DELAWARE -- I am in the process of buying my first house. There is a collection from NCO on my credit report that was paid in March of 2003. I called NCO a month ago to get a receipt of debt paid. They requested I send a self-addressed stamped envelope. I did so the next day. Three weeks later I had not received the receipt. Last Friday I called again and they said they never received the envelope and she would put in a request to have the receipt mailed.
Yesterday I called and requested they fax the receipt because I need it to close on the house. The girls said... "Well, it might be done today... Otherwise tomorrow." Surprise surprise... I call again today and when they finally find my information, they put me on hold for 10 minutes and then told me to call back because the person I needed to talk to wasn't there.
I did not let that happen. SO, then what was supposed to be a supervisor got on the phone. He accused me of never sending the envelope OR calling last Friday. He said they don't need to send the receipt and they do it as a courtesy. He was so rude and condescending... And all I want is a receipt to prove I paid this debt over THREE YEARS AGO.
I am a good person, I work hard, I am a single mom just trying to do the best for my family. This person made me feel like a crook and for what? He wasn't making any money off of me? They are in the wrong for never marking the debt paid and they can't simply fax a receipt verifying it paid. Oh... I am sooo upset. I am going to write letters. Better Business, Federal Trade, my governor, the President, heck... OPRAH!
There should be some sort of recourse for this! I have done nothing wrong and did not to deserve to be treated the way I was. It just ripples... This has consequences on my, my kids, my banker, the loan processors, the people I am buying the house from, the people they are buying THEIR house from, etc. When it would all have been fine if they could just simple fax a receipt.
Last Saturday 9/23/06, I received two letters from NCO Financial. When I opened the letters, I was shocked to find out that I owe some money to AOL. When I realized it was a collection agency I became fearful of the threats contained in the letter, if I do not pay up.
Three years ago I closed my account with AOL by telephone. I had paid off any kind of outstanding balance I had with them. I never heard from AOL again after that. Which is why I found it unusual that AOL didn't contact me first. After all, there was a gap of three years. Usually a company would make a couple of attempts first before sending a collector after you.
Of course, I received these letters on a Saturday, and had to wait until Monday to call and find out what this was all about. In the meantime, I went to their website, provided the info they wanted. I couldn't get in because I was told that my info wasn't correct and I had to call them. I was so frustrated by this time, but I waited until Monday to call.
Monday I tried to call them and all I get was a couple of rings and then the sound of a fax. Okay, so I tried later and I get a few rings, then a hang-up. BTW, the rings sounded different then any other ring I've heard. By the time Monday came, I had figured this must've been a scam. However, I wanted to make sure. After these attempted calls, I was convinced this company was a scam.
I wanted to look into this further. I looked them up on the internet and this is where I found this website. Much to my relief, I found others have had this same problem. I will not pay them because I know I have paid AOL already three years ago. I would rather pay an attorney fee, if it ever gets that far than to allow anyone to get away with a scam. Which is what I am strongly suspecting this is. Thanks for allowing me to add my experience in order to inform others. I am saving the letters if it gets to the point of having to dispute this. Am I doing the right thing?
Note to approver:
Already published on other sites: www.arlcollect.com.au/Default.aspx?page=newsarticle&naid=17, www.debtorboards.com › Credit Basics › General Credit Forum, www.ripoffreport.com/.../NCO-Group/.../NCO-Group-Threats-Lies-Wil..., and https://www.usconsumerprotection.com/.../nco-financial.../6449-562997...
Also, more of a news article, rather than a review.
NCO Group Announces Agreement to be Acquired by CEO and Equity Group for $1.26 billion
July 24, 2006
NCO Group, Inc., a leading provider of business process outsourcing services, announced today that it had entered into a definitive agreement to be acquired by One Equity Partners ("OEP") and Michael J. Barrist, Chairman, President and Chief Executive Officer of the Company, in a transaction valued at approximately $1.26 billion. Other members of executive management will be given an opportunity to invest in the surviving company and Mr. Barrist will continue as Chief Executive Officer.
Under the terms of the agreement, NCO shareholders will receive $27.50 in cash for each share of NCO common stock they hold as of the effective date of the merger. The price represents a 44 percent premium to the closing price of the stock prior to the Company's May 16, 2006 announcement of the receipt of the proposal from Mr. Barrist.
The merger agreement was negotiated on behalf of NCO by a special committee of the Board of Directors composed entirely of independent members of the Board. Upon the unanimous recommendation of the special committee, the Board of Directors has approved the merger agreement and has recommended to NCO's shareholders that they adopt the agreement.
The transaction is expected to be completed in the fourth quarter of 2006, subject to receipt of shareholder approval and customary regulatory approvals as well as satisfaction of other customary closing conditions.
Blank Rome LLP acted as legal counsel to NCO and Bass, Berry & Sims PLC acted as legal counsel to the Special Committee. Credit Suisse acted as financial advisor to the Special Committee.
Dechert LLP acted as legal counsel for OEP and Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel for Michael J. Barrist. Morgan Stanley & Co. Incorporated and JPMorgan Chase & Co. acted as financial advisors to OEP.
MICHIGAN -- Got a call 2 weeks ago from NCO. They said they were trying to collect payment for my husband's credit card. (Never rec'd any letter or call from credit card company that we were being sent to collections. Our account was in good standings.) They never asked once what relationship I was to the cardholder and starting giving me a line of bull crap. They said our house, car and whatever assets were in husband's name - would have a lien put on them if they didn't collect a payment by Aug 1st. They never asked what I could afford and demanded this certain payment.
I gave them a post dated check with the option that they told me - I could call and cancel on July 31st if I didn't have the full amount that they requested. So I called and cancelled it and NCO confirmed that they cancelled the payment and would not put it through. Today, I go to Wal-Mart and I couldn't use my debit card. I called the bank when I got home and sure enough NCO put the payment through unauthorized. I called NCO and they said I was insane that they needed 72 hours notice to cancel the check.
NCO told me my husband had 8 judgments toward the credit card, and that if the payment wasn't made the total amount due would triple, plus interest fees, and that my husband's wages would be garnished to where he would only bring home $50 a week until the balance was paid. I called the credit card company and told them NCO refused any type of payment that I could make and they said I had to go through NCO. (So I guess the credit card company doesn't want their money if NCO is refusing payments and handling their accounts.)
Anyway, NCO said they were taping my conversation when I spoke to them, but when I asked to talk to the supervisor to make a complaint all of a sudden they found no record that I was being taped. NCO provides fraudulent information to people they are trying to collect from. When I asked NCO how they were able to give me information on my husband's account without verifying who I am such as an address, phone or anything they said under the FDCPA of state laws they could talk to the cardholder or spouse of cardholder. (Who's to say I was the spouse if they never asked?)
NCO employees are liars, I have first and last names of people and their phone #'s with extensions of who I talked to at NCO. I documented all the lies they told me. All I wanted to do is make a payment I could afford and they told me no, lies, and the bad part is, that the 5 of the 6 people I talked to were supervisors. NCO may want to invest in what type of employees they are spending money on, seems to me like they are losing money - not making it.
HORSHAM PA, PENNSYLVANIA -- I am so upset with NCO Financial Services. The employees who work there are very rude. I am dealing with a terrible issue right now as we speak. I called NCO to have a check posted on a certain date, to pay off a debt, and this company posted the check on another date, causing my bank account to have a snow ball effect of NFS fees. Now I owe my bank 600.00 because of this.
I have been on the phone with NCO to try to speak with a manager, I have been hung up on several times, told that the representative shows no notations of that change in date. I explained to them before anyone can say anything to them, the first thing that comes out of their mouth is "this is attempt to collect a debt, and this call is being recorded."
I told them to go back and listen to the recording, the representative was very rude, and then told me that my date has been changed. I have still not heard anything back from these people. How in the world can you try and pay off debt, and get in more debt because of it. I am so angry right now!!! I think this is a horrible company!!!
HORSHAM, PENNSYLVANIA -- NCO keeps calling me and I have no debt, so I sent them a letters, faxes, and email, to put them on notice not to call my number any more, and that I would contact my Attorney General, and I would be recording any other calls with date and time to give to my Attorney.
I sent all notices to the heads of the Corporation. The Name of the President is Mr. Michael J. Barrist, 507 Prudential Road, Horsham, PA 19044. The Fax # is 215-442-8253. Ms Lisa Signore, Director Legal Compliance Department email is Lisa.Signore@ncogroup.com. firstname.lastname@example.org is the CEO, Stephen.Elliott@ncogroup.com is the CIO, his assistant is **, email@example.com is the Attorney & EVP, and John.Schwab@ncogroup.com is the CFO.
EDGEWOOD, MARYLAND -- Yesterday morning, starting at 6:48 am the phone starts ringing. I'm in the shower and don't get to it in time. Next call - 7:38 am (I'm out back). Next call - 9:05 am (still out back). Next call - 11:32 am (I'm out at lunch). Next call - 1:30 pm (I'm still out). I get home to see all the calls on the phone ID. Not 1 message, though. Next call - 2:47 pm and I'm home to answer the phone. It's NCO asking for me to take a message down the street to a neighbor (who I've never met!). The person tells me that this neighbor is a deadbeat and will not pay their bills and is not returning calls.
I tell them that I don't feel right hearing this information and that I will not take a message to my neighbor. Today: 1st call - 7:01 am - You guessed it, NCO. Again. Wants me to take a message to my neighbor. I tell them no again and not to call me for this matter again. 2nd call - 10:32 am - NCO. Again. Repeat conversation, yet, again. 3rd call - 1:24 pm - NCO. Again. Repeat conversation, yet, again. 4th call - 3:05 pm - I didn't even bother to pick up the dang phone. How do I get these jackals to stop bothering me?!?
TRENTON, NEW JERSEY -- After reading some of the post I felt the need to share my experience. In March 2006 I paid off an outstanding credit card balance through World Financial Network National Bank. I was told no further action would be taken. Recently I've been receiving letters from NCO stating they bought out my account and I owed them. Wrong! I have my cashed check and receipts from last March and knew something wasn't right. Upon trying to contact NCO and clear this matter up the phone # on these official looking letters isn't even a working one!
But it states you can go online and pay that way, I don't think so. I don't owe anymore on this account. It's closed and paid in full. I noticed most of the comments when people paid them had been when NCO contacted them. I suggest you try calling the # they give you and see for yourself. Also they state in the letter they sent me that they would share my info including my social security # with other related businesses. WHAT! Big red flag! One last suggestion, go online and receive a copy of your free credit report you get one a year which is what I did.
When you get it, it shows all your outstanding debt and which companies it's in collection with, so if you receive calls from someone other than that co. hang up! One last thing on the letter sent, it's stated their offices are in Horsham, PA but their return address is a PO Box in Trenton, NJ.