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NCO Financial is FRAUD
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PENNSYLVANIA -- This company keeps calling me saying I owe a debt to a university in Pennsylvania for charges incurred in 2002. I left this particular university and transferred to another college in 1999. I DIDN'T ATTEND THIS UNIVERSITY IN 2002!!! They also claim that I have made payments on this debt in the past but stopped in August 2008. The only payments I have ever made regarding education are the ones for my federal student loans, which I ALWAYS pay on time and directly to the US Dept of Education.

I called the university and they say I have no outstanding debt with them. I also know this to be true since they released my transcripts to the college I transferred to in 1999. They would not have released my grades if I owed them a debt, and the Bursar confirmed this with me.

I also spoke to a neighbor who is a federal prosecutor and he told me to cease all contact with NCO and check my credit record IMMEDIATELY. They had not posted anything to my record as of yet. He said their practices are fraudulent and assured me I had done the right thing in contacting the university directly. He also told me that any remaining debt I may have had (which I don't) is beyond the statute of limitations for both Pennsylvania and Virginia, where I currently reside.

Yesterday NCO contacted me again, still trying to collect on a debt that doesn't exist. When I called the woman out on the fraud, she became belligerent and threatened to report the debt to my credit record. She offered to send me a statement of the debt to prove it existed. When I asked her to confirm my address and social security number, she said she was unable to procure this information on her own, so she had nothing to repeat back for my verification.

Then she asked me for my address and social. NEVER GIVE ANYONE YOUR SOCIAL OVER THE PHONE!!! When I informed her that it would be hard for her to report me without my social security number, she became more indignant. She also didn't have an answer when I asked her how she got my phone number. She would know where she got the phone number (which, by the way, is listed to my father - not me - who has a different last name since I have been married for 8 years) if the university actually gave it to NCO.

I told her not to call again and that I would be reporting NCO to the FBI's financial fraud division. She hung up on me. Also, she sounded like she was eating a sandwich while we were speaking over the phone.

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Must Read Before You Talk to a Creditor
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A few years ago, I was contacted by NCO Financial about unpaid credit card debts from several years prior. They tried all the tactics I've read about here. From my experience, I have the following advice to offer: Before you talk to a debt collector, you must read and understand the Fair Debt Collection Practices Act. Google it. There are also several books available which explain the act in plain language and provide sample letters to use in communicating with collectors. It is imperative that you understand your rights before you talk to debt collectors. Accepting their statements as fact is just stupid.

Do not be scared by debt collectors' aggressive tactics. Don't fall for their lame attempts to inject a sense of urgency into your situation. By the time a company like NCO has purchased your bad debt, there is nothing urgent about it. You've certainly got time to look into it. And whatever you do, don't let let them talk you into making an immediate payment... no matter how small. Making a payment on a debt on which the statute of limitations has expired will reconfirm the debt and make you responsible for it.

In my particular case, NCO started harassing me about 90 days before the statute of limitations ran out. By requesting in writing that they confirm the debt and by insisting that we communicate only in writing, I was able to delay them until the statute of limitations expired. I then sent them a letter explaining that they'd just missed the statute deadline and invited them to move on to another victim.

I still get calls from third party debt collectors now and then, but instead of worrying about what they might do to me, I toy with them until they get frustrated enough to hang up. I must admit I've come to actually enjoy it. I get frustrated reading accounts of the harassment these vultures subject people to. If you're in a situation where you must deal with these companies, invest the time into arming yourself with the Fair Debt Collection Practices Act.

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NCO Group to Pay Texas $250,000 in Collection Settlement
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TEXAS -- NCO Group agreed to pay $250,000 to the state of Texas to resolve an enforcement action that focused on the company's debt collection practice in the state. Texas Attorney General Greg Abbott announced Friday that his office had reached a settlement with accounts receivable management giant NCO Group in an enforcement action targeted at NCO's work on behalf of its debt buying unit, NCO Portfolio Management. Horsham, Pa.-based NCO agreed to pay $100,000 to the state's general revenue fund and $150,000 to the state's attorney general's office to cover legal fees incurred in the investigation.

Under the settlement, NCO admitted no wrongdoing. Abbott's office said in a press release that NCO violated the Texas Debt Collection Act by making “harassing and sometimes profanity-laden telephone calls to Texans” and not verifying the validity of the debt when challenged by consumers. “Today's agreement protects Texans from unlawful debt collection practices,” Abbott said. “Texas law prohibits collection agencies from using unlawful threats and coercion to collect debts. With today's agreement, the world's largest debt collector agreed to implement safeguards that will protect debtors and ensure full compliance with the law.”

NCO said in a statement that it would spend $300,000 over the next three years on compliance programs. The company said it would spend the money on “technology designed to further strengthen its communication with consumers and to assist consumers in resolving disputes that arise from time to time in the collection process.” NCO will also establish a $150,000 restitution fund.

Michael J Barrist, NCO Chairman and CEO, commented in the statement, “NCO is proud of its record on consumer compliance. We are pleased to be able to resolve Texas's concerns within a framework that will allow us to improve our consumer interaction not only in Texas but within all of our markets. As the largest provider of accounts receivable collection services in the world, we truly believe that our new initiatives will set the standard for the entire industry.”

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NCO Group Looks Offshore to Ease Labor Costs
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April 3, 2008. In a conference call to discuss financial results, NCO said that it is seeing labor costs drop due to offshore hiring, and that it plans to expand its presence in other markets. NCO Group is realizing cost savings benefits by leveraging offshore labor, and the company has plans to open more international collection offices, company executives told investors during a conference call Wednesday.

The announcement follows the release Monday of 2007 annual and fourth quarter results by the global accounts receivable management and business process outsourcing provider. NCO reported that its collections, or ARM, unit payroll and related expenses dropped more than 11 percent to $95.8 million while revenue in the unit increased by $4 million to $204.3 million in the quarter.

CEO Mike Barrist said yesterday that labor costs had been reduced because the company is placing more collections work at centers in near-shore and offshore locations, and that improved technology platforms were creating labor efficiencies. The company is planning on opening a new office in the Philippines – its third in that country – and is looking into opening a new office in Latin America. NCO currently operates an office in Panama in Central America and offices in Barbados and Antigua in the Caribbean.

The company's most recent SEC filing underlines the shift to locations outside of the U.S. In its annual report filing for 2007, NCO said that last year, it counted revenues of $76.4 million from locations other than the U.S. and Canada, a 163 percent increase over the total in 2006.

NCO noted that the work performed in locations outside of the U.S. is typically for clients in the States, but that it was increasing the work it does for foreign clients. In 2007, 8.1 percent of the company's revenue came from work for clients in Canada, the United Kingdom and Australia. NCO said that at the end of 2007, it counted approximately 22,400 full-time employees and 1,600 part-time employees, of which approximately 19,000 were telephone representatives.

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Monogram Credit Card Fraud
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VIRGINIA -- I have received a letter from this company stating that my account was sold to them for collection. This account is for a supposed monogram gas card my husband opened in 1994. WE HAVE NEVER OPENED OR HAD A GAS CARD! I explained this to the girl I was speaking to and she said if I cannot prove that we never opened one we are responsible for the bill. The bill is for almost 900 dollars.

I expressed to her my dissatisfaction in her comment because people fraudulently steal other's information and use it to open credit cards. She replied the same ignorant comment as before. So I asked her for more information and she said she could not provide any but that If I would like to pay over the phone I could. WTF! is basically what I told her. How can they demand we pay when we have never owned a gas card. I asked to speak to a supervisor and she said none was available to me. So what now? Are we stuck? I think not, If I have to take a negative rating on our credit score until they get to the bottom of it then so be it.

I REFUSE TO PAY FOR SOMETHING OF WHICH WE HAVE NEVER OWNED OR OPENED! I then asked her again for a supervisor and she said there was not one available. I told her I refuse to speak to her because she is repeating the same stupidness out of her mouth as before. She then stated that I shall have the luxury of speaking to no one and hung up. WTF! I don't care if it takes the next ten years to sort out. I'm not paying for something that we never opened and is clearly theft of my husband's identity.

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Scam Artists
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NEW YORK, NEW YORK -- NCO Financial has got to be investigated. Please contact appropriate authorities if you have been ripped off by them. Last year I received a collection notice from them about an overdue medical bill. Being a person who doesn't like the idea of having bad credit, I paid it promptly. After trying to get reimbursed by my insurer the insurance company informed me that nothing had gone to collection. Beth Israel hospital has no record of this debt going to collection.

I have repeatedly tried to get NCO to send me info about this debt and they have never sent me any documentation. I was out over $400 for this. It makes my blood boil. Last week I got a notice for an AT&T bill that was paid years ago. This company is a total con operation that uses semi-legitimate functions to get away with theft. Please tell your stories to the authorities. What they are doing is criminal.I am going to pursue litigation against these lowlifes.

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NCO Group Acquires Loan Servicing Firm / JPMorgan Chase
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***
Note to approver:

Already published in https://www.usconsumerprotection.com/profile/nco-financial-systems/6449-5629977-page-5.html#sthash.241voh4K.dpbs and http://gettheskinnyoncos.blogspot.com/2009/02/nco-financial-systems-other-complaints.html.

***

NCO Group Acquires Loan Servicing Firm

The BPO and collection giant is looking to expand its service offerings by taking on a loan servicing company in a deal that involves investors and entities controlled by JPMorgan Chase.

Business process outsource giant NCO Group plans to acquire loan-service firm Systems & Services Technologies Inc. (SST) in a deal between two ARM-industry firms majority-owned or largely controlled by banking behemoth JPMorgan Chase.

Terms of the deal weren't disclosed. Brian Callahan, NCO's vice president of financial reporting, told insideARM.com the deal did not require a filing with the U.S. Securities and Exchange Commission.

JPMorgan Chase bought St. Joseph, Mo.-based SST in 2005. Callahan said One Equity Partners, an investment arm of Chase, owns about 85 percent of NCO. One Equity Partners teamed with NCO's President and CEO Michael J. Barrist and other NCO executives to take the company private in November last year in a deal valued at $1.2 billion.

SST is a third-party collector that has serviced more than $22 billion in auto loan and lease, credit card and commercial equipment loan and lease debt since it began in 1995. It has about 1,000 employees in its two Missouri offices in Joplin and St. Joseph, according to its Web site.

Callahan said the SST acquisition will allow NCO to expand its approach to its collection efforts. “They do loan servicing. We haven't done a lot of that in the past. This helps us branch out in our service offerings,” said Callahan.

Callahan said the deal is expected to close in the fourth quarter. He declined to comment on any possible changes in SST's leadership or staff.

SST did not return insideARM's calls. The Joplin Globe reported yesterday that Glenn Estrella, SST chairman, said the deal meant SST would "grow from a midsize company to another level." Estrella is also a senior vice president with Chase, according to the Globe.

Horsham, Pa.-based NCO is a collector and business process outsource firm with more than 100 operation centers and 22,500 employees that serves clients worldwide.

Source: insideARM.com
by Burney Simpson,

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Just to Inform
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Okay, I see that a lot of people are having problems with NCO, so I thought I'd offer some help since I work there. First of all, all the people that work there are not scum of the earth. We're just trying to get people to pay their bills. We're not considered customer service. It's collections. If we're calling your house for your debt, we just didn't pull it out of anywhere in the sky. The creditors were collecting for send your debt to our office. If you don't answer, we'll keep calling. If you pay your bills we will stop. That simple. Also, if you're really hell bent on us not calling you, tell us to cease all contact by phone.

Also, we can't read minds, so if you don't tell us we have the wrong number, we'll never know. If you're not the debtor then tell us to stop calling and remove your number. I see people are worried about it going on their credit report. You have to make special secured arrangements if it's in the right time period to keep it from going on there, and you have to ask for it. All parties have to agree with the arrangement. Also if you need a receipt, we don't send out paid in full letters. We have a website where you can access your acct and print out your receipt.

The website is on the letter we send you with your web access code or you can get it by calling, so you don't even have to talk to us, or call back after 30 days and request a letter be sent to you after all gets processed. Finally, if everyone knew what crap we did have to put up with all day, you probably wouldn't be the nicest bill collector either, although I personally try to give all the respect one deserves, just like I would like if someone called me. You really can't expect someone to listen to you if you're screaming in their ear. I understand that. We get screamed at, lied to, and hung up on all day long, and we get tired of calling you too, just like you hate hearing from us.

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There's Help Out there...use the Web
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This will serve as your legal notice under provisions of federal law, the Fair Debt Collection Practices Act (FDCPA), to cease all communication with me in regard to the debt referenced above. If you fail to heed this notice, I will file a formal complaint against you with the Federal Trade Commission who is responsible for enforcement, the States Attorney General office and/or the American Collectors Association or local State Bar Association.

I/We have decided that we do not desire to work with a collection agency under any circumstances. I/We will contact the original creditor to resolve this matter directly, as circumstances warrant. You are also notified that should any adverse information be placed against my/our credit reports as a result of this notice that appropriate actions will be taken. Give this very important matter the attention it deserves.

NOTE: This is an attempt to make a debt collector obey the law. Any information obtained will be used for that purpose. File a legal complaint for harassment Gov official (even P.O. or local police). I know how upsetting it is. I've been getting calls for 3 months. If you do answer tell them that you are taping the call. Whatever you do make them tell you..do not give them any info, not even your name. Good luck.

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1.0 out of 5, based on 1 ratings and
276 reviews & complaints.
Contact Information:
NCO Financial Systems
507 Prudential Road
Horsham, PA 19044
800-220-2274 (ph)
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