NCO FinancialHave you received a letter or a phone call from NCO Financial?
Do they claim that you owe them money? We're here to help!
To make matters more confusing, this company also goes by the names NCO Collection Agency, NCO Group, and NCO Financial Systems, Inc.
If you read below, you'll find the raw facts about NCO.
If you are discouraged, thinking you'll never win against them, consider reading some NCO Success Stories.
Also, consider reading about exactly you should do to help your case against NCO Collection Agency.
NCO Financial Systems FactsNow, for a basic overview about this company.
The NCO collection agency assists clients by handling their accounts receivable and customer service business practices.
Businesses such as phone companies, hospitals, credit card companies, banks, retailers, and insurance companies all rely on the company to handle collections. They offer business process outsourcing solutions and specialize in areas such as customer management, accounts receivable management, and back office services.
The company's subsidiary, NCO Portfolio Management, purchases and seeks to collect payment on delinquent credit card accounts and old loan debt from various businesses.
As the largest collection agency in the world, NCO Collection oversees the collection practices of its subsidiaries which include Outsourcing Solutions, Inc. (OSI), North Shore Agency, Inc. (NSA), Transworld Systems, Inc. (TSI), and University Accounting Service, LLC (UAS).
Although NCO was at one time a publicly traded company that sold stock, they were bought out in 2006 and now conduct business as a private company. They operate on an international basis in eleven countries and earn revenues each year exceeding one billion dollars.
With over 32,000 employees, they maintain more than one hundred locations and have been in business since 1926.
While NCO Collection purports to legitimately collect on unpaid accounts, they use questionable collection practices and have received several negative rulings regarding violations of Federal Trade Commission policies.
In 2004, $1.5 million in penalties was assessed against the company for their violations of the U.S. Fair Credit Reporting Act. The primary violation involved stating that the delinquency dates for some debts were more recent than they actually were. The falsified dates then allowed the company to pursue collections on expired debt consolidation.
If you find yourself in debt, there are companies who are ready to help, as well as do-it-yourself debt resource options to help you get out of debt.
Learn how many people just like you got this company off their backs!
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