NCO Financial Systems

Like any other collection agency, NCO Financial has been notorious for harassing people for collecting debt that has not been paid off. They record negative items on our credit reports and ruin our credit history in the process.

There are, however, some basic things that we can resort to prevent them from taking control of our lives.

1. Send NCO a letter to notify them to stop harassing you. Make it very clear to them that the creditor you owe the money to is the company you will deal with, not with any other third party who is trying to get involved in this process.

2. Hire an attorney if they still do not stop harassing you after getting the letter. The attorney, who has plenty of experience working in this field will let them know about the right course of action.

3. NCO might get off your back if you enter into some kind of agreement with them. Documentation is very important every step of the way. They should be made aware of the fact in writing that, they will not receive their first payment until they send you the negotiated terms in writing.

4. Keep in mind that if all fails, you can always file for bankruptcy. But that should be your last resort alternative. Do not try to rush to this decision. Weigh all your options, do whatever you can to come to an agreement with them.

We should not forget the fact that we have our rights to defend too as consumers. We most certainly have the right to dispute the bill, we also have the right to request NCO to stop calling us incessantly at any inconvenient time, additionally we have the right to send payment via mail and last but not the least we have the right to have another company assist us to deal with NCO.

Attorneys suggest various methods to remove the negative items from our credit reports. We can’t do anything in haste, it is a time consuming process but we certainly can enter into an agreement with NCO to work towards it.

1. If there is an item in the credit report that you don’t recognize, dispute it. There is no reason to take them for granted, it is very likely that it might have been put into your credit report by mistake.

2. NCO cannot expect you to pay off the debt without proving to you that you really owe them the money. Try the debt validation process, give NCO the chance to prove the validity of the debt they listed on your credit report.

3. You will have to pay NCO if they prove the validity of the debt. You should have a fairly good idea of what you can pay or what you can afford to pay within your means. Work out a payment plan with NCO; I am sure they will work with you too in this matter.

4. All NCO wants is for you to pay off the debt you owe them. Be patient with them, work out a payment plan that you can afford and get assurance from them that they will remove the negative record from your credit report.

It is up to us to make the right decisions, act wisely and do everything we can to pay off the debt. As long as we act responsibly and judiciously, we can hope NCO will come around and co-operate with customers in the future.

You are not alone if you are a victim of nco financial. You should beat nco financial at their own game, you really should.

Bill Collectors and Old Debt Can Wreck Your Day Don’t Let Them

The phone rings and there is a recorded message from a debt collector on the other end. Typically the recording will tell you that they are attempting to collect a debt and ask you to call back and reference a case number. You know you have perfect credit. You have no missed credit card payments and your loans are current. Why is a collection agency calling you?

Its a ploy by some debt collectors to squeeze out some money on debts that are years old. You may have had some trouble sometime in your past and now these collection agencies are unearthing old debts that are five to 10 years old.

A collection call on an old debt can be tricky to handle if you are not aware of your rights. If you handle it incorrectly, that old debt could become brand new again. Its important to understand that old unpaid debt cannot hurt you as badly as new unpaid debt. After seven years, the old debt will roll off your credit report and will no longer affect your FICO score. More importantly, if the debt is older than the statute of limitations in your state, the creditor or collection agency can not sue to recover, nor can they threaten to sue.

The Fair Debt Collection Practices Act prevents a bill collector from threatening lawsuits or garnishments on debts that are older than your states statute of limitations. They can still dun you and ask you to pay the debt but they have no legal recourse to collect.

If the collection agencies can’t legally collect the debt, what’s the problem? The problem is that in some states, if you simply acknowledge that the debt is yours, the old debt can become new debt and the statute of limitations starts over again. Your credit report may also reflect this “new” debt and your FICO will take a nose dive.

The best way to handle a collection call for an old debt is to say as little as possible. Don’t agree to pay. Don’t acknowledge the debt. If it wasnt for the annoying phone calls that are going to keep coming, it would be best not to speak to the collection agency at all.

The time to stop the phone calls is before they begin. Under the law, a debt collector has to send you written notice advising who the debt is with and for how much. You have 30 days to respond. If this is in fact a debt that is older than the statute of limitations, send a letter disputing (not mine) the debt. The collection agency cannot contact you again until they can verify the debt and notify you. If they can’t prove it, you don’t owe it.

Another more direct approach is to use your right to send a cease and desist letter. Make it clear in your letter that you’re aware that the debt is “time-barred,” and you can’t be sued for the debt and you don’t want to hear from them again. Make certain that the debt is actually beyond the statute. The best way to check is with your State Attorney Generals office or consult with a consumer credit attorney

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