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You are being contacted by NCO Financial concerning a delinquent debt. NCO Financial is commonly referred to as NCO group, NCO collections or a similar variation. NCO is third party collection agency with a checkered history.

NCO is typically hired by a lender to come in and collect delinquent debts. They are known for using intimidation, threats and harassment at tools to collect on a debt.

NCO was punished in 2004 for violating the Fair Credit Reporting Act. They were caught working the credit system in an attempt to keep a delinquent debt on the borrowers’ credit report for longer than 7 years. They were forced to pay $1.5 million dollars to the FTC.

Collection agencies are known to have called a borrowers family member, neighbors, places of employment in order to collect payment. To stop a collection agency from contacting you in the future you need to mail a letter where you say you do not want further contact from them.

I strongly recommend sending this letter certified mail, so you have proof that it was sent. Also fax a copy and save all documentation of any communication between you and the agency. This will help when filing a complaint or filing a lawsuit against the collection agency.

The collection agency will be able to notify you of how they plan on continuing the collection. Then according to the Fair Debt Collections Practices Act they agency can no longer contact you. This legislation was created in 1996 because congress needed to protect debtors from the collection agencies and their collection methods.

The FDCPA says that debt collectors must be ethical in their collection methods. Meaning they can not misrepresent themselves or use undue influence to force you to make a payment. Often this law is overlooked by collection agencies.

Congress passed the FDCPA to protect individuals from debt collectors. Agencies are frequently found in court facing lawsuits and have become very crafty at avoiding these. They will change their operation name and have been known to hide assets to avoid paying on a lawsuit.

Finances

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