NCO - End the Harassment
You are being contacted by NCO Financial concerning a delinquent debt. NCO Financial is commonly referred to as NCO group, NCO collections or a similar variation. NCO is third party collection agency with a checkered history.
NCO Financial is hired as a third party to collect unpaid debts for companies. They have a reputation for unethical practices and have been know to use harassment, threats and intimidation.
In 2004 the FTC imposed a $1.5 million dollar punishment on NCO. NCO had been exploiting the credit system. They were reporting debts late in order to keep the debt on the borrowers’ credit report for more than 7 years. The fair credit reporting act says that a delinquent debt can by law only remain on your credit report for 7 years.
Collection agencies are known to use disreputable tactics. They have called places of employment, relatives and neighbors in attempts to humiliate the borrower into paying the debt. In order to prevent them from contacting you in the future you must mail a letter to them requesting them to cease contact.
Send this letter through certified mail and save your documentation. Further save all communication you have with the collection agency. This can be used as proof in case you want to file a complaint or lawsuit.
When this letter is received the collection agency will be able to contact you once more in regards to how they will move forward with collecting the debt. This is the law according to the Fair Debt Collections Practices Act of 1996 which was made in response to overwhelming complaints of unethical collection methods by collection agencies.
The FDCPA says that debt collectors must be ethical in their collection methods. Meaning they can not misrepresent themselves or use undue influence to force you to make a payment. Often this law is overlooked by collection agencies.
The FDCPA was an attempt by congress to protect debtors from being abused by debt collectors. Collection agencies are frequently brought to court because they do not comply with the FDCPA. However agencies have become very skillful at hiding assets and changing their operation name to avoid a lawsuit or paying on a successful one.
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