NCO Financial Systems Inc is a debt collection agency which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
- Who is NCO Financial Systems?
- NCO Financial Systems Complaints?
- NCO Financial Systems Lawsuits
- NCO Financial Systems Contact
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- How Do I Stop NCO Financial Systems Debt Collection Harassment?
- How Can I Delete NCO Financial Systems from My Credit Report?
- How Can I Deal with NCO Financial Systems?
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NCO Financial Systems, Inc. (NCO) is a third-party collection agency and financial services company based in Horsham, PA. NCO has received consumer complaints alleging violations of the Fair Debt Collections Practices Act (FDCPA) such as failure to verify debts and attempting to collect debts not owed.If you have been contacted by NCO, make sure you understand your rights before responding.
The Better Business Bureau (BBB) has 17 different profile pages for NCO Financial Systems with addresses in Philadelphia, Horsham, and Ft. Washington in Pennsylvania; Wilmington, DE; Trenton, NJ; and Garden City, NY. All the BBB profile pages for NCO agree on a founding date of 1926. As of February 2012, the BBB reports that mail sent to NCO’s Wilmington, DE and Garden City, NY addresses was returned as undeliverable.
NCO Financial Systems was founded in Horsham, PA in 1926 as a Business Process Outsourcing (BPO) and Accounts Receivable Management (ARM) company specializing in third-party collections. NCO was publicly traded from 1996 through 2006, during which time it was purchased by One Equity Partners, an investment arm of J.P. Morgan Chase & Co. Employing over 30,000 people in over 100 locations worldwide, NCO acquired Outsourcing Solutions, Inc. (OSI) in 2008, and in 2010 reported revenues of $1.6 billion.
In 2012 NCO and APAC Customer Services merged to form Expert Global Services (EGS), and in 2016, EGS was purchased by Alorica, Inc. to form the largest BPO company in the United States and the third largest globally.For some reason, Buzzfile lists NCO’s official business name as NCO Financial Systems of Puerto Rico, Inc.; its founding date as 2014; estimates its annual revenue at only $112,000; and its staff size at 3.
NCO does not have a website, but the website link in its BBB profile page redirects to www.alorica.com. Alorica offers call center services for the communications; healthcare; media and entertainment; financial services; retail and consumer goods; transportation and logistics; technology, travel, and hospitality; energy and utilities; and public-sector industries. Their call center services include customer service outsourcing, sales, technical support, administration, collections, fraud investigation, credit, and payment.
The BBB has posted a notice on NCO’s profile page indicating that NCO was acquired by the Revenue Maximization Group (RMG) in 2002 and that complaints should be sent to RMG’s main office at 150 Crosspoint Parkway, Crosspoint Business Park, Getzville, NY 14068. However, the BBB’s complaint link for NCO is still active and accepts complaints.The BBB’s ratings for NCO vary from A+ to B- to C+ and also include several listings with a rating of NR (no rating). The BBB lists only one closed complaint against NCO in the past three years. Complaints about NCO include allegations of aggressive efforts to collect debts that have already been paid or are not owed. Justia lists at least 29 cases of civil litigation that have been filed in which NCO has been named as a defendant.
Absolutely. Here are some Sample Cases against NCO Financial Systems Inc
In March 2016, in the United States District Court for the Northern District of Illinois, Eastern Division, a judge issued a Memorandum Opinion and Order in a case alleging violations by NCO Financial Systems of the Illinois Collection Agency Act (ICAA). In this case, the plaintiffs charged that NCO violated the ICAA by attempting to collect debts they knew they had no right to collect. The plaintiffs cited the ICAA rather than the Fair Debt Collections Practices Act (FDCPA), specifically because their complaint was based on NCO’s failure to register with the State of Illinois as a debt collector before initiating collection efforts. There are two applicable provisions of the ICAA in this case—Section 4 and Section 9. Section 4 requires debt collectors to register with the State of Illinois prior to doing business; Section 9 grants a private right of action for plaintiffs alleging harassing or abusive debt collection practices. The plaintiffs in this case tried to bring a private right of action against NCO under Section 9 for NCO’s failure to register under Section 4, arguing that because NCO Financial Systems was operating illegally in Illinois, the ICAA’s general prohibition of illegal or abusive debt collection practices should render the defendant’s’ efforts illegal and relieve the plaintiffs from any financial responsibility. The court recognized the plaintiffs’ attempt to shoehorn an argument based on a violation of Section 4 into the remedy provisions of Section 9, but case law could not justify a finding to support their claim. The court granted NCO’s motion for judgement on that count, but the plaintiffs’ claim for injunctive relief under Section 4 survived and was set for trial.
NCO Financial Systems, Inc.
507 Prudential Rd.
Horsham, PA 19044
Telephone: (800) 220-2274
Understanding your Debt Collection Rights
The Federal Trade Commission (FTC) and the CFPB enforce laws prohibiting unethical business practices such as the Fair Debt Collections Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). The FDCPA prohibits activities such as failing to provide verification of a debt, or using false or misleading information to collect a debt. The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include The Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA). The complaint above illustrates why it is important for consumers to understand their rights before attempting to take action against collection agencies who may have violated these laws.
Private individuals may seek monetary damages in court for alleged violations. For instance, the FDCPA allows consumers to recover damages of up to $1,000, plus attorney fees and court costs. If you believe your rights have been violated by a collection agency, seek legal assistance to ensure you find relief.
Your debt harassment checklist:
- You are receiving multiple calls per week from third party collection agencies
- You are receiving early morning or late night calls from debt collectors
- You are recieving calls at work from a debt collection agency
- Debt collectors are calling your friends, neighbors, or coworkers
- Collectors are threatening you with violence, lawsuit, or arrest
- A debt collector attempts to collect more than you owe
- You are being threatened with negative credit reporting
- A debt collector attempts to intimidate you
- Criminal accusations are being made towards you
- Use of obscene language during an attempt to collect
- Automated robocalls are being made to your phone in an attempt to collect
If a Debt collection is recorded on illegal charges or taking any other action that is against the law, to speak with a representative directly and immediately call 844-685-9200 for a free, no obligation case evaluation. You have every right to maintain debt collectors accountable, and an attorney can help.
What Our Clients are Saying
“We realize that ours is only one little case among many — and a lot more serious — but are heartened by the fact that you accepted it represented us with a professionalism that belied the dollar amount.”
“I am so blessed that through this dreadful, terrifying encounter, your company was there to help me. I can not thank you enough”
“Never did I feel anything less than your most important customer. I love your service, and wish that more people were aware that there was a remedy for these vile creatures that call themselves collectors. Do not get me wrong, I pay my debts, or at least attempt to, but those agencies are aware of what they’re doing is illegal and know that the person on the other end of the line probably does not know that.”
Chances are good that we can help. Call us today and we’ll explain.
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