[Cindycrable]

I have a friend (not me really a friend) that has been getting mail from NCO Financial Systems, Inc and a NinVision-MEDCLR Portfolio Group, LLC. They are stating that they have purchased a debt from Discover card in the amount of $1,867. To take care of this debt they are wanting her to agree to their assistance to obtain a Capital One Credit card. Offering her a deal of a $1.00 credit and then expanding her balance by $50.00 for every $75.00 she pays towards the $1,867 balanced that is transferred to the Capital ONe card. They state that this will also "Build a good payment record with Capital ONe". She already has a Capital One account that she has already got good standing on. Is this for real, or does this just sound fishy to me! :?

I have been dealing with NCO and I believe they are a collection company. I did the same thing though, I had a Capital One Visa and I transfered a $500 Newport News account to a Capital One Master Card account. Will all the bills I had at the time I didn't notice that they didn't send me any bills on the account. This was in 2001. At the beginning of 2005 I was contacted by NCO about my deliquent Capital One account. They said I now owed almost $3000 dollars on the account but they would settle for a $1100 lump sum payment. Looking back, I should have just kept paying Newport News. It would have cost me a lot less!!!

[ben]

Cindycrable

You must have got the appropriate reply from Kathryn and will be able to make good decision for your friend.

Most of these offers have hidden charges which are not put clearly in the agreement pact. Apart from that, I will always urge to pay towards the existing loan and not take the help of any other loan offers. If your friend opens another credit card account, she is getting the debt multiplied because the other lender is paying for her. Needless to say that she will have to pay twice which otherwise could have been managed by paying once only.

NCO Financial Systems has given Capital One credit card offer because they have partnership together and doing this, they are promoting their business. Later, they get a chance to recover money of that company also. So, watch out before you take such offers.

[Cindycrable]

I was able to find out through some research that NCO is HUGE company and have bought up a lot of the U.S. debit via credit cards, utilities, medical bills, etc. I have not read anything about this company on this site, surely that does not mean that this company is acutally working within the set forth laws does it? I was able to find some cases on the net where they were a few lawsuits, do you know anything eles about them? I will tell you one thing, my friend has NEVER been contacted via phone with these people. She is still receiving her mail from them addressed her maiden name, which has not been correct for 7 years. How long do debt collects continue to try to get you to pay for a debt that may not even be yours?

[roxette]

NCO collection agency has been into harassing people for many reasons. On such occasions, you are required to send a cease and desist letter to stop all telephone calls and other modes of correspondence. They are required to stop after receiving your letter, otherwise, it will be a violation of the federal law.

If you have a debt with them and you are regularly paying towards your account, they cannot take any sort of actions against you and should not even disturb you in anyway. If they do so, you should lodge your complaints against the company for unethical and harassing business tactics with FTC, state attorney general office and the BBB.

At this time, it will be preferable to contact the original lender and see if they are still holding your account. If the debt has been not sold to NCO, they cannot charge interests on it because you have not put your signature on the contract with the collection agency.

Pennsylvania-based NCO Group has been the most horrible company in the books of FCRA. They have been doing the illegal activities by re-aging the accounts of the consumers and not reporting the actual dates. Due to this, the seven years reporting time of an account gets extended due to illegal activity. Federal law states that a violation of this type is subjected to FCRA laws and the company has to pay the penalty charges of $2500 per violation.

[ben]

I read that NCO was fined $1.5 million by the Federal Trade Commission on charges of violating the FCRA laws.

The extent of reporting inaccurate information was so much that they starting reporting accounts by changing the dates of delinquency. The consumers suffer so much because of this re-aging of the accounts because the tenure of the negative information gets extended beyond the reporting period permitted by the FCRA. Needless to say that the credit scores get lowered and as a result we have to pay high paying interest rates.

After the FTC pressed charged to pay civil penalties of $1.5 million dollars they have been under observation on the reporting of the delinquent accounts to the credit bureaus. The FTC has forced them to maintain an agreement record so that it can be monitored anytime.

[Teleport]

Ben

This is at the same time great news as it is sad. For those who have
suffered, it must be hard to do the leg work and get your credit score
back up to where it should be.

Do you, by chance, have the site where you got this information from?

What is one to do, if they suffered from the inaccuracies from NCO? Does it say on the site? Also are they entitled to any part of this law suit?

Regards-
Mike

[Cindycrable]

I was also able to read this information on the net. I ran across some law suits as I was looking up the company for my friend. I am concerned that as long as NCO does not place anything on a person's credit report, that they can keep after you. For example, NCO is listed as an inquiry on a the credit report, but nothing else. Is it all on the up and up for just anyone to may purchase a so called debt to look at a person's credit report without knowledge? Can a company or organization still look at a credit report for promotional reasons if you have Opted-out! NCO has listed as inquiring for a promotional reason and then inquired for collection purposes on the credit report after she has completed the Opt-out provisional? Can that be right?

[ben]

Mike and Cindycrable

fdcpa law permits to add 100 word statement to the credit file of an individual. Those who have suffered by the illegal activities of NCO, they can add this statement briefly. The future lenders will get a better view of the consumer.

Mike, I was reading some articles about collection agencies while browsing. It was then I came through this information. Sorry, I don't remember the specific website address.

[Cindycrable]

I was also able to read this information on the net. I ran across some law suits as I was looking up the company for my friend. I am concerned that as long as NCO does not place anything on a person's credit report, that they can keep after you. For example, NCO is listed as an inquiry on a the credit report, but nothing else. Is it all on the up and up for just anyone to may purchase a so called debt to look at a person's credit report without knowledge? Can a company or organization still look at a credit report for promotional reasons if you have Opted-out! NCO has listed as inquiring for a promotional reason and then inquired for collection purposes on the credit report after she has completed the Opt-out provisional? Can that be right?

Bud Hibbs website has current information about NCO

[ben]

Cindycrable

To opt out from promotional offers, contact the three credit bureaus in writing or place your request at 1-888-567-8688. The name will be removed from the direct marketing list.

Include the full name, current address and telephone number of the person opting out in order to initiate the process.

I received the 2nd letter from NCO today stating they had bought my credit card account. They said the credit card was Chase Providian. There is no such card as Chase Providian. I called Providian about this, and they said there is no such card, and that the account no. does not exist. The first letter said I owed them $19000.00 and the one I got today says $20,278.84. The account number is also fictious.
Thanks to roxette for her info on sending a letter of cease and desist.That's what I am going to do

[Cindycrable]

I understand how and why to complete the "opt out" option. My question is, can companies continue to inquire on the credit report. I have been told that my credit score can also be affected by the number of "inquiries" I have on my credit report. If a person opts out can they continue to be listed as a inquiry on the report. NCO continues to be listed as an inquiry even after the opt out option was carried out, is the right?????

[roxette]

Hi Cindycrable

If NCO continues to be listed as an inquiry after being 'opted out', this is something unfair.

Highlight this particular entry and dispute with the credit bureau reporting it. It needs to be fixed as early as possible. This is reducing your scores also.

I simply shredded the snail mail from NCO. It was past the 7 year reporting limit on an old debt. ( 15 years old )I paid for my bad credit by having none for 10 + years - not via bankrupty ( btoken back ) I did see a promotional inquiry from NCO on my CR ( these do not show as an inquiry that imapct your score ) So woo whee now they have my phone # Idiots call and ask for John rather than Steve so I know it's most likely a collector or some one else who does not know me. You can simply F**k with them on the phone all you want in this case - Just do not acknowledge that you are the person they are calling - me say Hello - they sat Is John XXX there - me say who are ? and why are you calling - they say I need john - me say who are you - Depak from NCO - me say What the F**k does that mean and why should i care - Depak say DOH amd hang up - call momma - bad man on phone. As I understand it at times they claim they got you to agree that you still owed the debt by simply ackowledging they have reached the correct person and post it back on your credit report as a new item due to them to re-age it. Legaly and technically I think you have to agree to any form of repayment ( plan - etc ) before they can repost / reage it. The original debt can no longer be reported after x# years SOL has expired - neither can the bought out account - unless you agree to repay. So go F**k youself NCO My credit score is now 750 - own a home - new car - all the trimmings - I got ur sunshine for ya !