NCO Financial Systems Informative - NCO Financial Systems IMPORTANT
FLORIDA -- NCO is so bad, that in 2003, they have been sued 40 times for violations of the Fair Debt Collection Practices Act (FDCPA). These suits are usually filed when consumers are abused in violation of state and federal debt collection laws.
NCO is a money-mill, gobbling up competitors, buying portfolio's of old debts for pennies and expanding globally. These money-beggars are making their bottom-line profits at the expense and abuse of consumers.
One wonders how many lawsuits are NOT being filed because consumers do not know their rights or that NCO CAN be held accountable for their illegal debt collection practices.
Apparently, NCO is not spending enough time and money to properly train their debt collectors in accordance with law, the FDCPA. Do they hire any derelict that may be in-between court and treatment dates simply to harass, abuse, and oppress consumers? There is no mention of drug testing at their web site, so I assume you can get hired on at NCO if one has bad habits and a need for fast-cash. This must be a 'dream-job' for anyone with a prison record, drug habit, or any con artist out to scam some fast money off an unsuspecting consumer. Are you aware of the personal consumer information these money beggars have access to? I shudder to think how much information is being illegally used at agencies such as NCO. You should be VERY nervous about the type of individuals who have this unprecedented and open access to ALL of your personal information.
It may be just a matter of time until collectors start calling with accents from country's like India, Pakistan and ....(ooohhh my gawd!!)
NCO's CEO, Michael J. (kinky) Barrist seems to be astonishing Wall Street(NASDAQ:NCPM)with his financial wizardry. He certainly appears to be pumping up the bottom line.(one lawsuit at a time?) In my experience, this type of greed and consumer abuse will catch up with NCO, just as it did with Commercial Financial Systems (CFS) and Outsourcing Solutions Inc (OSI). Both operations were out of control just prior to their filing for bankruptcy protection. CFS's top brass is facing federal criminal charges in highly anticipated court proceedings scheduled for later this year.
One sure method to stop NCO's consumer abuse is for well-informed consumers to use the law to their advantage. There are three things you can do to slow down the NCO collection process:
1) Within the first thirty days of receiving a written NCO collection notice, send a dispute notice, making demand for all documentation that substantiates their claim.
2) Use the FREE cease-comm letter on ANY NCO debt collector who threatens, intimidates, or abuses you.
3) Tape all debt collector calls (where legal) to use in future civil or criminal proceedings.
If you are receiving abuse from NCO, contact me for referral to a local consumer law professional in your area. NCO, with $800+million in revenues last year, has more money than a South American drug cartel, so use the law to make them pay when they violate the laws and your consumer rights.
Do not let NCO's under-trained, uneducated and FDCPA lacking debt-collectors make a paycheck at your expense.
Big agencies pay big salaries to their ego-driven brass. NCO should spend a lot more time training their collectors and dealing with consumer complaints, in this case BIGGER does NOT mean BETTER! (Except for Kinky and his top brass team of money beggars)
NEVER give a debt collector your banking or credit card information.
NEVER trust a debt collector; they will lie to cheat you out of your money.
NEVER do 'checks by phone' as debt collectors could empty your bank account with little or no accountability.
REMEMBER: Debt collectors have NO power and NO authority and should NEVER be trusted. They will lie and cheat you to get at your money.