web stats

Debt Collection from NCO Financial Services

What is NCO Financial Services?

They are actually a collection agency. The company has over 100 locations globally and is considered as one of the biggest bill collectors in the globe.

If NCO Financial tries to ruin your credit, you are actually having some options to end your nightmare. NCO Financial charge offs and collection accounts can prevent you from living the life you deserve. You can get them legally, ethically and legitimately removed by following the advice we offer to you here.

NCO Financial Services
NCO Financial Services

The Fair Debt Collection Practices Act protects you from unscrupulous debt collectors by limiting the tactics they can use against you.

Debt collectors are not allowed to call you before 8 am or after 9 pm, to call your work looking for you (if you’ve told them not to), or to call you for the sole purpose of harassing you.

Also, debt collectors can’t make empty threats of legal action, such as having you arrested, garnishing your wages, placing a lien on your home, or seizing your assets.

In order to threaten any of these actions, they must have a REAL intention of taking you to court and a REAL chance of winning the case. Otherwise mentioning these legal actions is just a scare tactic.

The Fair Credit Reporting Act prevents debt collectors from reporting false information about you to any third party, including the credit bureaus.

If a duplicate NCO Financial collection item is listed on your reports – they can be in violation of this act.
According to reliable sources, if it is, then it can be easy to get the collection item removed.

Mistakes happen because the credit bureaus don’t do any outside verification on collection items. When they receive notice of a collection item, all they do is “verify” the item with the debt collector who sent it in the first place.

Naturally, no new information comes out of that process!

It is the debt collector’s responsibility to prove that you owe your debts and some institutions can help to initiate a debt validation process for you to make NCO Financial prove that you owe what they said you owed.

Debt collection numbers from NCO

Phone: (215) 441-3000.
Fax: (215) 441-3923.
Web Address: www.ncofinancial.ca.
In case you happen to receive the phone number of statement that being faxed to you by the given numbers above, it is of high chances that the call is to make by NCO Collections Agents.

How to send money online to NCO Financial Services

If you want to repay your debt to NCO through online transfer, it is actually not so difficult for you to do so. All you need is just follow the steps as shown below:

  1. Sign on to your preferred online banking.
  2. Add a Biller.
  3. Search for NCO Financial Services.
  4. Make your payment.

Debt Collection Industry Now Worth $12.2 Billion

In the wake of the Great Recession, the debt collection industry exploded into a multi-billion dollar industry. Many people who had no previous financial trouble found themselves in dire need of financial assistance.

This of course greatly alarmed the creditors that had loaned money to these people. Those creditors employed debt collectors at a rate and frequency that was unprecedented.

debt collection
debt collection

Because the nature of the debt crisis was so severe around the world, the debt collection industry was able to expand at an exponential rate. This allowed many of the debt collection companies to actually offer many services to both creditors and debtors that have allowed both parties to come to more equitable solutions.

However, the bottom line is the unprecedented expansion of the debt collection industry. If you want to know how to manage your finances in the modern financial era, then you must learn how to keep the collection agents off of your phone lines and exactly what to do if they end up calling you.

Managing Your Finances

There is no such thing as free credit anymore for the average investor. Many families and businesses have actually had to go to an all-cash-in order to continue to make ends meet. There has been a switch to more cash-oriented forms of paying back taxes.

This may cause a lot of grief in the short-term, but in the long-term, it is definitely better for small businesses and individuals trying to take care of their family.

There are many ways in which you can save money without having to give up the little luxuries in life. Learning how to invest in the long-term is essential to managing your finances.

For instance, the family that invests in a $500 coffee maker saves $1200 more per year than the family that buys the same gourmet coffee in an outside establishment.

If you are in financial trouble, the first way to keep the creditors off of your back is to hire a reputable debt collection attorney.

You want to do this before you actually get into enough trouble to have your creditors call collection agents on you. They are much more highly staffed and able to track you since the recent explosion of business that has come their way.

If You Are Already in Financial Trouble

If you are already in financial trouble and you have collection agents calling you, the worst thing that you can do is to ignore the situation. If you cannot self manage your finances, hiring a debt attorney is the best option.

Contrary to popular belief, hiring a loan modification attorney is not only a solution that is available to multinational corporations. With the explosion in business for debt agencies, there has also come an explosion in business for loan modification attorneys.

This is allowing them to lower their prices because of the rise in volume. Many attorneys actually have programs specifically set up for small business owners and individuals looking for financial assistance.

The number one reason for hiring a loan modification attorney is to prevent you from feeling intimidated. Collection agencies will often try to use your financial data as a moral dilemma to get you to pay more quickly. Lawyers will help you be more objective in this obviously emotional time.

Warren Paine

Warren is the senior mortgage loan officer who has worked in mortgages and loan industry since 1995. He study in Harvard and major in Finance with a Bsc. Honor Degree. He possesses a Paralegal Certificate as well.

Recent Content