Powered by Yahoo! Answers

Collection Agency - NCO Financial Systems?*

Does anyone know anything about a collection agency by the name of NCO financial systems? How aggressive are they? Is it better to write them, so I have written proof rather than just words over the phone?

Answers:

1) Never deal with any collection agency by phone. Everything should be in writing.

2) They are one of the major collection agencies and can be very aggressive. But it does not matter what collection agency you deal with you NEVER talk to them by phone. So yes it is better to write them. Not exactly knowing what you are writing them about some general tips include. When you send them anything make sure it is sent Certified Mail with Return Receipt. This way you have proof that you sent it and they received it. Never sign any letter you send them only type your name. If you sign it you may find your signature put on other documents you never agreed to. If your intention is to pay them off never send any money until you have an agreement from them in writing that you can work with.

3) All collection agencies and their clients are becoming much more agressive in collecting bills. Always deal with them in writing and keep a copy of all correspondence.

4) I've never had to deal with this agency, but most agencies can be fairly aggressive. If they're nice with you (ie, "I'm from this agency and I'd like to schedule payment of your debt of ____ for _____.") work with them. If they're aggressive in tone but otherwise stick to limits (call you only during the day or early evening at home, etc), commit to what you know you can commit to and don't let them get to you. Also, once you've made arrangements, you can tell them you don't wish to be contacted again. Finally, if they do get overly aggressive - calling too late or early in the morning, calling your family members or workplace - get the name of the contact and make a complaint with the BBB and the FTC. There are rules that collectors have to follow. If they make threats ("We're gonna take your car" if you only owe credit card debts, or "We're gonna tell your boss") then hire an attorney. I've been on both ends of the collection game, and neither is fun. One agency in particular would call at 2 a.m., at which point I told them I would only negotiate with the company whose debt I owed. When he called again I told him to pound sand, that I had filed a complaint against the agency, and was settling with the company directly and asking them to take my file away from the agency. Also, make sure the debt is actually yours and that it's recent. It's not unheard of for certain unscrupulous agencies to dig up debt that's more than 7 or 10 years old, at which point they really can't prove anything in court unless papers are kept - and most companes don't keep records past 3 to 7 years in compliance with IRS guidelines. Also, a friend of mine was taken by a debt collection agency that demanded payment for a credit card she had never been issued. Good luck - set up a schedule you know you can commit to, and don't let them push you beyond that.

*The answers on this page are supplied by users of the Yahoo! Answers forum or by visitors to this site. CreditOptions does not necessarily endorse or agree with the answers provided.