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NCO Financial Systems Informative - How to get NCO off your back!!!!
NCO Financial started calling me very soon after I went delinquent on my American Express card. Before I go any further, YES I do owe the debt, but due to financial reasons, I was unable to make any payments at the time. So, they called me all day, every day...Called my cell, my wife, anything they could. Even after talking to them and explaining my issue, they would call me back the same day hoping that I miraculously won the lottery and could pay them. They all spoke horrible English and eventually started talking down to me and trying to put words in my mouth. After months of this, we finally came to terms on a settlement, but they REFUSED to put anything in writing. After talking to 4 supervisors and catching them all in lies about their company's practices (they all contradicted each other), I finally got to feeling that I was being scammed and just felt very uncomfortable. I called American Express with an attempt to settle directly with them, however they said I could not. I then learned that NCO was contracted out to collect the debt and that it WAS NOT SOLD TO THEM. They lady with AMEX asked if I would like to file a complaint with their actions, I did and she removed them from negotiations. Within a weeks time, NCO stopped calling and Nationwide Credit took over. After a 20 minutes phone call, I came to terms with Nationwide and within 3 weeks, the settlement was COMPLETE!!! NCO has not called me since. I am more excited to see NCO go down then I am to settle that account...lol So if you are in the same boat as I was, call your original creditor and see if you can have them removed from the account.
Comments:
Posted by MRM on 2010-06-29:
Thank you for advising your readers what avenues to take when filing a complaint against the debt collectors. I did not know this and now I know!
Posted by madconsumer on 2010-06-29:
this is a great review. well written, and well infornmed!!
Posted by ok4now on 2010-07-19:
I like a story with a happy ending. Good for you! Keep in mind that most debt collectors work on commission. They have absolutely no compassion for the debtor and will try to squeeze every last dime out of you. Due to this horrible economy many honest hard working people have lost their jobs and no longer have the ABILITY to pay. Debt collectors fail to understand this. "Show Me The Money!" In the financial food chain they come dead last. First is your mortgage/rent. A close 2nd is food for your family. All the rest can wait.
Posted by grims on 2010-07-26:
Thank you for the information! NCO is intimidating and unpleasant to work with. When I originally fell behind and called Amex they did not tell me I could request the removal of NCO however after reading this review I have successfully had NCO removed and Nationwide is handling my Amex account. Many thanks for your help!!!!!
Posted by ript on 2010-07-26:
Not only are they often commissioned, but they can often purchase your debt from the original lender for a minimal fee, which is a gamble for them, but if they can get you to pay, they make a small profit.
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