NCO Financial Systems is a third party debt collection agency engaged in collecting debts from consumers. Numerous complaints about NCO Financial Systems collection agency have been making news and have created fear in consumers’ minds about this agency.
Third party agencies like the NCO hate it if you clear the debt by paying the dues to the original creditors and not them. The NCO collectors may be retained by the original creditors or sometimes they may have bought a debt from original creditors for a pittance and make it their final goal in life to harass consumers to collect money on debts. For these collectors any money earned is profit enough as they did not spend neither their time nor resources to buy these consumer debts. Original creditors may not harass you for the simple fact that they have built a goodwill with you.
The Fair Debt Collection Practices Act (FDCPA) is a federal act established in 1978 in response to the innumerable complaints about debt collection harassment cases. The Act has clear guidelines to protect debtors from the clutches of illegal and unethical debt collection practices. The FDCPA controls the third party agencies like the NCO Financial Systems.
NCO Financial Systems scams are widely known in our country. By far not having an unpaid debt in your account would be the ideal scenario. But should you get entrapped by NCO Financial Systems scam, there are a few steps that can be followed to keep these NCO collectors at bay. They are: Verify your debt and find if the debt is yours, and if not dispute it Know your rights under the FDCPA Do not make payment immediately even if they threaten you to pay Contact an attorney if they call you everyday Sue NCO if they disclose your debt to third parties Catch NCO if they leave messages on your phone with any information that is a violation of the FDCPA Do not succumb to NCO collectors’ aggressive approach
NCO collectors can damage your credit score if they are bent on doing so. As soon as you smell foul from an NCO Financial debt collector calls get in touch with your original creditors to settle the issue. Contact an attorney who will first verify what grounds you have to sue NCO and litigate your case. It is important to consider state debt collection laws also as these may be more or less favouring your case. By law, the state laws too should be accommodated to resolve consumer complaints. Whichever law is more favorable to consumers is considered in justice. The Fair Debt Collection Practices Act (FDCPA) offers protection from illegal and unethical tactics of the debt collectors. A clear understanding of debt collection laws under the FDCPA will entail you to the power to fight the third party debt collectors.