NCO Financial Systems Complaint - Deceptive Settlement Agreement Practices by NCO
COLUMBUS, OHIO -- NCO contacted me about my student loan. I agreed to their settlement offer because I wanted to be done with the mess. Then the rep said that the settlement could not be approved and upped it another couple hundred dollars. Also she said I had to pay it in full on that day to get the settlement. I could not pay it in full that day. They said I had to make a payment that very day and also demanded more that very day that I could pay them. I could not pay that high an amount so they took a lesser amount. I made the initial payment, and then I was to settle with three more payments in three months. The first two months I paid roughly $2000 each time. My final payment, according to their own letter, for for $500. But the letter that they sent me a few days before my final payment, now stated $550.
When I called the company, the rep I finally spoke to spoke to fast, did not listen to me, and was rude. I asked to speak to a supervisor and was told a supervisor did not come in until 11. I said I would all back then to speak to a supervisor and ended the conversation. Just a few minutes later the same rep called me back and I said I was not discussing it anymore, that I would call back and speak to a supervisor. When I called back, I was never connected to s supervisor. When I called back again and requested the fax number, figuring, I'll fax in my statement and offer, I was put on hold for a ridiculous period of time. Just to get a fax number.
This is my second dealing with NCO, and each time they have come back and increased their original settlement offer, saying I was no longer qualified for the lower amount and the supervisor would not approve it. I would suggest to counteroffer what they offer with a lower amount, because they are going to raise their offer, even if you accept their offer. They say, "OK I will get this approved" and then come back and tell you the settlement was not approved, and now you have to pay a lot more. They lure you in with a lower settlement offer and then raise their demands. This seems to be deceptive.