Complaint Review: NCO Financial Systems Inc - Horsham Pennsylvania

The financial industry caused this depression we are having now.  The financial industry got it's bailout, but you, the consumer, has been left to a life a grinding debt and unemployment. I have no positive feelings toward those who want to punish the consumer for something he didn't do.  I will pay when I get my bailout; if that doen't happen (which it won't because I'm not "too big to fail") they can just stuff it.  In two years some of my debt will be beyond the term of limitations and a couple after that it will be all gone.

The collection agency cannot call you more than once a day especially if they are 3rd party and do not own the loan. I have had the same problem with a collection agency for my wal-mart and target credit card accounts. They would call, I would answer, advice cannot pay, and they would still call me 2-3 more times that day. I did luckily work for collections for 2 1/2 years so I know what they can and cannot do. According to the FDCPA they are not to call you after contacting you or harass you with the phone calls. If they continue to do so, you can actually file a lawsuit against them for up to $1,000 and I think that is not including actual damages and attorney fees. So if they are, be sure to keep records of every phone call. If you want more information than I tried to give you can easily google 3rd party collections or FDCPA. Now, if they are first party, they can do almost as they please. OH! Also, if they continue to bother you, you can also send a letter to cease and desist all communcation. If you do, be sure to have it certified. Once they receive it they are only allowed to contact you to advise you the letter is received or to advise you of legal action. If they call you for anything else, you can once again rightfully file a lawsuit. Alright, I hope I helped! Good luck!

The only thing lenders care about is that 3 digit score called your FICO score when determining creditworthiness (between roughly 350 and 850).Not "morals". With that said, as I included near the end of my last post, paying a charged off collection account REAGES the debt and it STAYS on your CBR for an ADDITIONAL six years! Chargeoffs fall off after 6 years of chargeoff date OR last payment. So you decide to pay a debt that was charged off 4 years ago. You have it as a derrogatory remark on your CBR for 10 years now! The reaging LOWERS your score by making an old debt look current. When Equifax,Experian and Transunion decide to give debtors a strong credit boost for paying a charged off collections account, I may likely change my stance. Until then, debt validate them to death from agency to agency. If and when you are served,deny everything, write a sworn denial to eliminate the creditor/plaintiff's sworn affidavit forcing them to produce a live witness. Also, look up the Rules of Civil Procedure and demand discovery and production of documents from start to finish on the alleged debt.Bill collectors NEVER tell a debtor that paying a charged off credit card will add an additional six years as a paid charged off collections account on your CBR. They would never get paid if they did.

More than likely they bought the debt for pennies - but never get the required validation paperwork from the original creditor. GET OFF THE d**n PHONE. If you had bothered to read any of other NCO complaints here - which obviously you did not - you would have found numerous rebuttals with WHAT YOU NEED TO DO to put a stop to those harrassing calls. EDUCATE YOURSELF FIRST! GO TO www.budhibbs.com and READ DEALING WITH DEBT COLLECTORS 101. You have to scroll down to it on the home page.

about bottom feeder collection agencies.....especially those that buy debts beyond the SOL......or "junk debts" as Ive seen them called. What I dont understand is people that continually try to dodge paying their bills. Unemployment happens and it sucks..no matter who ya are.....or why it happened. It seems to be all around us today. However....with that said (gawd I hate that phrase) WHY dodge what you rightfully owe? Cbain....you admit to owing this.....but that you came upon tough times....no job etc. I (we) understand that...I just dont get why you wouldnt want to find a way to pay this? Is it because NCO gets so dang nasty when they call you?.....or wont work with ya setting up payments etc? I dont mean to criticize Cbain...seriously....Im just trying to understand a little. So many people here preach and preach about how to dodge collection agencies.....how to get out of paying them etc. With OLD debt......or SOL debt.......I understand....or when they are actually trying to collect debt you DON'T owe......but this situation sounds different. I do wish you luck in the future Cbain......we're all gonna need it Im afraid.

Charge off is just an accounting term, and doesn't affect the collectibility of a debt. Now if they issued you a 1099 for the chargeoff, that's probably another story. You owe the debt plus interest.

Charge off is just an accounting term, and doesn't affect the collectibility of a debt. Now if they issued you a 1099 for the chargeoff, that's probably another story. You owe the debt plus interest.

Charge off is just an accounting term, and doesn't affect the collectibility of a debt. Now if they issued you a 1099 for the chargeoff, that's probably another story. You owe the debt plus interest.

Charge off is just an accounting term, and doesn't affect the collectibility of a debt. Now if they issued you a 1099 for the chargeoff, that's probably another story. You owe the debt plus interest.

Always demand validation within 30 days of initial dunning letter and always send it certified mail return receipt requested. Stay off the phone! Thirdly, you can always send a "cease communications letter" at anytime and do that CMRRR as well. Some long term evasion tactics are as follows...... Now...the fun part. HOW TO EVADE JUNK DEBT BUYERS LIKE NCO. 1) If you are having money problems, chances are good you are in a job that is run of the mill or unemployed. More on that later. 2) STOP APPLYING FOR CREDIT! I can't stress this enough consumers. Whether it's a lame old navy charge card or auto loan, it shows up as an INQUIRY on your credit bureau report. That is an easy skiptrace for any NCO collector since you likely included updated and accurate location info including phone,address and job. Inquiries stay on CBR for atleast 6 months. 3) Collector skiptrace sites like accurint have a feature called phones plus. Phones Plus allows collectors to type in an address and all landlines and cellphones that you sign a contract on (verizon,sprint,cricket,etc,etc.) show up. If you provided your SS # on your cell application, it will appear on accurint. I promise you that. So then what? 4) Buy a prepaid cell that you can get at any store like walmart. You don't need to provide identification and you have a phoneline no one can possibly trace. These cannot be traced in skiptracing databases as I type this because any 8 or 80 year old can have it if you simply have the cash to give the store clerk. 5) Now that you have a prepaid cell as your only contact, stop applying for credit and tell all associates to not give your number out to any creditor calling requesting 'location info' on you.If you decide to move, leave no forwarding address either to creditors you are in bad standing with. Preferably pay $25 a month for a PO Box.Get a new job too if your current situation is 'run of the mill.' On your prepaid cell, never have your voice or name attached to the phone. Keep the automated answering machine. That way, when they call if some loose lipped associate blows your cover, say you have the wrong # and immediately hang up. If they call again, tell them your fictitious name is _____, they are wasting your minutes (which agencies can't knowingly do on purpose per FDCPA (section on not allowing debtors to accrue costs to receive written or verbal communication)). Do not say anything about FDCPA. The idea is to AVOID contact right? They hear any FDCPA reference, they'll likely know it's you screening. At this point, you should be underground until months or years down the road if and when the creditor finds you and requests the court to issue you a summons and info subpoena. With info subpoena, what you say today can be irrelevant tomorrow even though you must under oath answer truthfully or else face contempt of court. Be honest, but after it's answered and filed, close your checking account the next business day and if your job at the time of info subpoena is 'run of the mill', promptly find a new job. Info subpoenas can only be requested once a year in most jurisdictions (correct me if I'm wrong), so you have a year or so of not fearing wage garnishment (most states allow it, a few don't) and/or bank levy of your checking. Pay the extra money to either for a small fee cash your paycheck at the same bank your place of employment has a checking account with (only need drivers license to cash usually) or if that's not an option, do the underground check cashing store route. Way better than getting your checking account frozen and levied regardless.Cancel direct deposit at POE too before you answer info subpoena and summons. If this is too much of a hassle, save money to file chapter 7. If your income is below and passes the 'means test' of your state and you have no real or auto property in your name, chapter 7 is a good deal. Make sure you speak to a state approved CCCS company and get CCCS certificate prior to filing with an attorney and have your most recent tax return for chapter 7 (chapter 13 I believe you need 4 most recent). Since you have no tangible assets, then chapter 7 is the way to go. Charged off debts stay with you for 6 years from date of charge off or last payment on CBR regardless of whether you pay. Paying a charged off debt reages it for another 6 years on your CBR so from a CBR standpoint, bankruptcy would be the way to go if you can't pay all your unsecured bills anytime in this lifetime. Even though a bankruptcy stays with you for 7-10 years, you have a clean slate with no current unsecured debts and at this point your CBR is in the crapper anyhow so you can recover much faster from a CBR standpoint by filing.