Who is NCO Financial Systems?
NCO Financial Systems is a prominent debt collection agency with its headquarters located in Horsham, Pennsylvania. They specialize in managing accounts receivable, which involves recovering outstanding debts owed by consumers.
The agency operates as a subsidiary of EGS Financial Care, Inc., also known as Expert Global Solutions. This parent company was acquired by Alorica, Inc. in 2016, leading to the creation of the largest Business Process Outsourcing (BPO) company in the United States.
NCO Financial Systems operates under several names, including NCO Credit, NCO Financial Services, NCO Group, and NCO Portfolio Management. If you find any of these names on your credit report as a collections account, it typically signifies an unpaid debt they are trying to collect.
Who does NCO Financial collect for?
NCO Financial Systems provides debt collection services for a wide variety of companies across numerous industries. They handle collections for credit card companies, e-commerce platforms, financial institutions, medical facilities, student loan providers, and subscription services, among others. These companies hire NCO Financial when they have been unsuccessful in collecting outstanding debts from their customers.
Is NCO Financial legit or a scam?
NCO Financial is a legitimate debt collection agency with a long history dating back to 1926. It’s one of the largest and most well-established collection agencies in the United States. However, as is often the case with debt collection agencies, they might frequently contact you through phone calls, text messages, or emails in their attempts to recover the debt.
How can I remove NCO Financial Systems from my credit report?
NCO collections can hurt your credit score and remain on your credit report for up to seven years regardless of whether you pay it or not. Unfortunately, paying the collection could even lower your credit score.
However, it is possible to remove a collection account from your credit history before seven years.
(While debt collectors may not want this information to be widely known, it’s your right to be informed.)
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Has NCO Financial Systems Inc. tried to contact you recently?
NCO Financial Systems has been known to harass consumers. They are one of the most notoriously poor debt collectors out there. One website alone lists almost 200 complaints against NCO.
Nobody likes hearing from a debt collector, and NCO has proven to be one of the more aggressive in the country. Regardless of how old your debt is, they will still attempt to find out where you are to collect the debt that they believe is owed to them.
NCO collection agency has been known to pursue debts as much as 15 years old! They will also pursue you for debt that has never belonged to you.
Do not allow collection agencies to violate your rights under the Fair Debt Collection Practices Act (FDCPA). If you want to take a stand against them, keep reading; you have options.
NCO Financial Systems Inc. Contact Information
NCO Financial Systems
507 Prudential Rd
Horsham, PA 19044-2308
Phone number: (215)-441-3000 or (208) 375-9640
Should I contact or pay NCO Financial Systems, Inc.?
It’s best to avoid speaking to a collection agency on the phone. And making payments on the debt will reset the clock. As a result, it could harm your credit rather than improve it. However, sometimes it’s better just to pay the collection account, especially if it’s new, and you’re certain that it’s legit.
The most effective way to deal with NCO Financial Systems is to work with a credit repair professional. They help remove millions of negative items every year from companies like NCO Financial Systems on behalf of their clients.
Will NCO Financial Systems sue me or garnish my wages?
As a third-party debt collection agency, NCO Financial Systems does have the legal right to sue you for an unpaid debt. If they win the lawsuit, they might be granted a court judgment that could potentially allow them to garnish your wages or levy your bank account, depending on your state’s laws.
However, it’s important to note that wage garnishment is usually considered a last resort after all other attempts to collect the debt have failed. The process requires court approval and varies from state to state, with some states offering more protections for consumers than others.
NCO Financial Systems, Inc. Complaints
Most collection agencies have numerous complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most consumer complaints are about inaccurate reporting, harassment, or failure to verify a debt. If a debt collector is harassing you, you may want to consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). These rights include the ability to dispute credit reporting errors and to be treated fairly and respectfully by a debt collector.
Your Rights When Dealing with NCO Financial Systems, Inc.
Debt collectors must abide by state and federal laws in the United States. For example, the FDCPA prohibits a debt collector from using abusive, unfair, or deceptive practices. In addition, it provides you with many rights to ensure that collection agencies don’t take advantage of you. In particular:
- It is a violation of federal law for NCO Financial Systems to report inaccurate or incomplete information about you.
- You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. By law, they have 30 days to prove to you that the debt is really yours and the total amount is accurate.
- NCO Financial Systems may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
- NCO Financial Systems must be honest about who they are and what they are attempting to do. They must notify you that they are a debt collection agency both orally and in writing.
- NCO Financial Systems cannot threaten to have you arrested or imprisoned over unpaid debts.
Remove NCO Financial From Your Credit Report Today!
Credit Saint can assist you in disputing NCO Financial collections. With years of experience at their disposal, these professionals have a proven track record of effectively removing incorrect entries for countless clients.
If you’re tired of dealing with debt collectors and want to improve your credit, consider working with a trusted credit repair company.
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