NCO Financial Systems is an accounts receivable management company. They’re a leading purchaser of bad debt and charge-offs.
Companies that collect on debts, including NCO Financial Systems, are regulated by the Federal Trade Commission (FTC). Several states and some cities have made it required that collection agencies be licensed and bonded. They also are primarily ruled by the Fair Debt Collection Practices Act (FDCPA).
The FDCPA enables consumers to claim their legal rights against unlawful debt collection tactics. The FDCPA provides consumers with the right to file suit against organizations that do not respect it.
The Fair Debt Collection Practices Act (FDCPA) forbids certain types of “abusive and deceptive” conduct when attempting to collect debts, although you may really owe it.
If NCO Financial Systems has turned to any of the “abusive and deceptive” tactics in an effort to illegally get you to pay them, contact us.
You might be qualified to receive a cash award, if it can be proven that the NCO Financial Systems acted in bad faith, and went on to breach the Fair Debt Collection Practices Act (FDCPA).
Absolutely no debt collector should harass, oppress or abuse any customer in association with debt collection, even if the consumer genuinely owes it.
Under debt collection laws, you might be entitled to money damages plus your attorney costs, if a debt collector has been found breaking the law, even though you may owe the NCO Financial Systems the money.
Does a charge-off, overdue payment or collection show up on your credit report from the NCO Financial Systems?
You could be able to eradicate that debt and erase it from your credit report.
We will not only aim to cease the harassment, but may also get the NCO Financial Systems to pay for the harassment done to you.
A debt collector may not use unfair or unconscionable methods to acquire or attempt to acquire any debt, even if one really owes it.
If the NCO Financial Systems has reported any later-than-actual dates, it could potentially cause unfavorable information to remain in your credit file past the seven-year reporting period authorized by the FCRA. In such a circumstance, your credit scores fall, resulting in your credit being declined or you could be required to pay higher interest rates.
We can pursue claims against the NCO Financial Systems for violating the Fair Credit Reporting Act (FCRA) and permanently prevent them from filing later-than-actual delinquency dates to credit bureaus in the future.
The NCO Financial Systems could be placing telephone calls without meaningful disclosure of their identity to get you to repay the debt you may or may not owe them.
Lawyers at Our Firm can hold the NCO Financial Systems liable to the unconscionable harassment and get them pay you for the damages under FDCPA.
Depending on the verbiage in the message as used by the NCO Financial Systems, lawyers at Our Firm will seek to get them to pay you for the damages under FDCPA.
You are allowed to sue the debt collector in federal court up to a maximum of $1,000 for statutory damages plus any legal fees for violating the Federal Debt Collection Practice Act (FDCPA).
If you think any of your consumer rights have been violated even in the slightest by the NCO Financial Systems and you need legal help, call Our Firm toll free, for a no cost case review, or complete one of our online submission forms.
In 2003, NCO had been prosecuted 40 times for violations of the Fair Debt Collection Practices Act (FDCPA). These suits are usually submitted when consumers are mistreated in violation of state and federal debt collection laws.
May 13, 2004: 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 incorrect 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. (FTC NCO Case File 992-3012). (Posted by the Consumer Equalizer)
HARRISBURG – Attorney General Tom Corbett announced that a settlement had been reached with Pennsylvania based NCO Financial Systems Inc., a national debt collection agency, soon after an investigation into in excess of 800 consumer complaints lodged with the Attorney General’s Bureau of Consumer Protection against NCO Financial since November 2003.after an investigation of over 800 complaints to the Pennsylvania Attorney General’s Bureau of Consumer Protection. (PA Attorney General Press Release)
In 2007 NCO Financial was sued in Federal Court a minimum of 100, mostly for FDCPA and FCRA Lawsuits.
NCO Financial Systems
Thomas v. NCO Financial Sys., Inc.,
2003 WL 22416169(E.D. Pa. Oct. 21, 2003). Debt collector supplied the credit reporting agencies with details on debts beyond the time limit.
Prince v. NCO Financial Servs., Inc.,
346 F. Supp. 2d 744 (E.D. Pa. 2004). Debt collector attemptedto acquire debt prior to being in default.
Davis v. NCO Portfolio Management, Inc.,
2006 WL 290491 (S.D. Ohio Feb. 7, 2006). Consumer reported that the debt collector didn’t have enough documentation to file a complaint and pursue a law suit. Court found that the defendant had a sufficient amount of evidence to move forward.
Foti v. NCO Fin. Sys., Inc.,
F. Supp. 2d , 2006 WL779774 (S.D.N.Y. Mar. 25, 2006). Debt collector repeatedly attempted to collect on the debt within the 30 day validation period. Debt collector made various threats pressuring the consumer to make immediate payment ignoring their right to challenge and ask for evidence.
Allen v. NCO Fin. Servs., Inc.,
2002 U.S. Dist. LEXIS 10513 (N.D. Ill. June 10, 2002). Defendant sent a second collection notice just a few days after the first debt collection letter had been sent out. This violated the terms of the thirty day period that the consumer has the right to dispute and request affirmation. Defendant was unable to supply a legitimate excuse for why this mistake occurred.
507 Prudential Rd
Horsham, PA 19044-2308
Phone: (215) 441-3000
Fax: (215) 441-3923
Web Address: www.ncogroup.com
866-287-2543
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