NCO Financial Systems - Identity Theft NCO FINANCIAL SYSTEMS INC - WE MUST PROSECUTE Philadelphia Pennsylvania

Agency Details

NCO Financial Systems, Inc. ****
(May also go by the name of NCO Portfolio Management)
507 Prudential Rd
Horsham, PA 19044-2308
Phone: (215) 441-3000
Fax: (215) 441-3923
Web Address: www.ncogroup.com

Other Offices:
150 Crosspoint Pkwy
CrossPoint Business Park
Getzville, NY 14068-1602
Phone: (716) 404-2100
Fax: (716) 404-2120
And many more...

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

ONE OF AMERICA'S WORST COLLECTION AGENCYS!

******** CONSUMER ABUSE ALERT **********
For Release: May 13, 2004
NCO Group to Pay Largest FCRA Civil Penalty to Date

One of the nation's largest debt-collection firms will pay $1.5 million to settle Federal Trade Commission charges that it violated the Fair Credit Reporting Act (FCRA) by reporting inaccurate information about consumer accounts to credit bureaus. The civil penalty against Pennsylvania-based NCO Group, Inc. is the largest civil penalty ever obtained in a FCRA case.

According to the FTC's complaint, defendants NCO Group, Inc.; NCO Financial Systems, Inc.; and NCO Portfolio Management, Inc. violated Section 623(a)(5) of the FCRA. The law specifies that any entity that reports information to credit bureaus about a delinquent consumer account that has been placed for collection or written off must report the actual month and year the account first became delinquent. In turn, this date is used by the credit bureaus to measure the maximum seven-year reporting period the FCRA mandates. The provision helps ensure that outdated debts debts that are beyond this seven-year reporting period do not appear on a consumer's credit report. Violations of this provision of the FCRA are subject to civil penalties of $2,500 per violation.

The FTC charges that NCO reported accounts using later-than-actual delinquency dates. Reporting later-than-actual dates may cause negative information to remain in a consumer's credit file beyond the seven-year reporting period permitted by the FCRA for most information. When this occurs, consumers' credit scores may be lowered, possibly resulting in their rejection for credit or their having to pay a higher interest rate.

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 portfolios 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.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Hope this helps

Good luck!

This post is for an NCO Troll who likes putting down the working person who does labor or service jobs.

Stef Vavala, CA..She knows who she is..

Stef, I guess you were right on how great NCO is!

They are great liars and thieves!

Keep up the good work!

Following the suggestions on the NCO Financial Systems website, we sent a registered letter with a return receipt requested. This form of documentation will hold up in a lawsuit or court case. The postal worker suggested I also call the U.S. Postal Service to alert them to the possible misuse of their P.O. Box. She said, "The police won't take the time to investigate, but the post office will. They don't want their service being misused." I called 1-800-275-8777 and asked for the "Box Section supervisor for P.O. Boxes zip code." I was given the telephone number of the post office for the NCO zip code, 19101. The phone number is 1-215-895-8975. I explained to Levern, a "front-line supervisor"that I was receiving fraudulent correspondence from NCO and I gave her the P.O. Box number, and I told her about the website where many people had posted notices about being scammed by this company. She
said that NCO has about 20 boxes and a courier comes and picks up the mail. Lavern said that she would pass the information on to Neil Graves, her supervisor who is there in the mornings, eastern standard time. If you do not owe these people money cover yourself by writing the letter. If we all call Neil Graves maybe he can get an investigation started.

I too have received a demand letter in the same month as the reporting individual. No response in attempting to contact them. The account they said I was in default on is bogus. The letter demands money or they will post negitive information on my Credit. The amount are surprising simular.

I too have received a demand letter in the same month as the reporting individual. No response in attempting to contact them. The account they said I was in default on is bogus. The letter demands money or they will post negitive information on my Credit. The amount are surprising simular.

You have the right to STOP collection agencies from ever writing or calling you again. The Fair Debt Collection Practices Act contains an empowering tool in for the consumer. By law, a collection agency must stop contacting you after they receive a letter telling them to. The body of the letter should basically read:

You are hereby notified under provision of public laws 95-109 and

99-361, also known as the Fair Debt Collection Practices act, that

your services are no longer needed.

Your organization is to immediately CEASE & DESIST all attempts to

collect this debt. I will not recognize any collection agency and will

deal only with the original creditor (WHOEVER THE CREDITOR IS)

As stated in the Law...
*(4) The term creditor' means any person who offers or extends credit creating debt or to whom a debt is owed, but such term does not include any person to the extent that he receives an assignment or transfer of a debt in default solely for the purpose of facilitating collection of such debt for another.

at this time I would send them a letter, Certified Mail Return Receipt Requested, and advise them this is not your debt, that you have verbally advised them this is not your debt and that they are not to contact you again regarding the debt. Start a paper trail. If NCO keeps bugging you, you can file suit against them. Good luck.