NCO Financial Systems Collections Group - How You Fight Back & Remove Them From Your Credit

NCO Financial Systems also commonly will go as NCO group, or NCO collections are debt collectors. They purchase all sorts of debt accounts and you can guarantee if you have gotten a phone call or piece of mail from them it is regarding a debt.

 

What is NCO Financial?

 

They are a very common collection agency. They will collect on all sorts of accounts: credit cards, auto loans, jewelry, phone bills, and really anything you can collect on. They are one of the biggest debt collection companies in the country.

 

What Can I Do?

 

If your currently being contacted by them you need to request debt validation. This needs to be done in writing and using certified mail so you have evidence should you need it.

 

This will force NCO Financial to prove that they legally own the right to collect the debt they are contacting you about. We aren't sure specifically with NCO however we know it is not uncommon for collection agencies to be unable to prove this.

 

If they can't prove they legally own your debt then you don't have to pay and you can easily get this item off your credit report.

 

How Do I Get It Off My Credit?

 

You must write a dispute letter to all three bureaus. In your letter you need to include your personal information, the reason for the dispute, the item you are challenging, the dates, and any other related material.

 

The bureaus will investigate this item. They will call NCO collections and ask them to verify the debt. If they do not verify the debt then the bureau must remove the item from your credit report.

 

Where Do I Start?

 

1. Request debt validation

 

2. If the debt is not validated and you don't have to pay - go to step #3. However if your debt is validated then you must negotiate terms before you pay them. And the reason you will pay them is so you can get this item off your report - same reason for negotiating.

 

You need to get them to agree to stop reporting this item to the bureaus in exchange for your payment. This isn't uncommon and is the only way you can benefit from paying old debts.

 

Also make sure not to pay them the full balance. They purchased your debt for pennies on the dollar - we suggest you start you offer no higher than 50% of the balance they say you owe.

 

3. Dispute the item with the bureaus - this as I mentioned earlier is done through writing a letter. You can also hire a professional credit repair service to do this and they can perform debt validation for you too.

 

4. Wait for the investigation results letter - the bureaus are going to let you know what the results were to their investigation. They will tell you if the item was verifiec or if they removed if from your report.

 

If you need some help with dealing with NCO Financial call 1-800-483-0256 for a free consultation.

 

If you want to contact NCO Finacial directly you can use the following:

NCO Financial Systems,Inc

507 Prudential Road

Horsham, PA 19044

800-550-9619