How to Remove NCO Financial Systems From Your Credit Report
A lot of people get unwanted calls from a collection agency called NCO Financial. If you’re in this boat, you should know that there are effective ways to handle this particular problem!
Before I share these techniques, I’d like to share a bit of information about NCO.
After you read this article, you’ll be armed with knowledge that helps you to move forward and get this collection agency off of your back…hopefully, forever!
NCO Financial Systems
NCO Financial is part of NCO Group, Incorporated. NCO Group has its headquarters in Horsham, Pennsylvania.
It’s a company that handles collection agency duties, as well as outsourcing for business process tasks.
When companies or individuals hire NCO Financial, they get help with customer relationship management, back office solutions and accounts receivable management.
This company was launched way back in 1926, so it’s been around for ages. It ran into trouble with the United States Federal Trade Commission during 2004, when it was fined for contravention of the Fair Credit Reporting Act, due to reporting consumer debt information improperly.
Is NCO Financial Bothering You?
If you’re getting phone calls from this collection agency and you feel harassed, you should know that you do have rights.
If a collection agency, including NCO Financial, oversteps the bounds by violating your rights, as stipulated under the Fair Debt Collection Practices Act, it will be possible for you to take a stand.
Unfortunately, some debt collection agencies do go too far. They may utilize tactics that are dubious in order to collect outstanding debts from American consumers.
Most of these collection agencies know that typical consumers do not understand their rights under federal and state law.
Techniques to Remove NCO Collections From Your Credit Report
Use the following techniques to try and remove the NCO Financial negative entry from your credit report.
- Continue All Communication in Writing
- Draft a Debt Validation Letter
- Draft an Advanced Dispute Letter
Create a Paper Trail
To start standing up for yourself, I recommend creating a paper trail with NCO Financial. This means ensuring that every interaction with this tenacious and aggressive collection agency happens the old-fashioned way…via snail mail.
A lot of people regret trying to do negotiations with NCO reps over the telephone. They regret it because they then have no record of what was said (and agreed to!) during the calls.
When there is no record, it’s all too easy for collection agency employees to go back on their word. To stop this from happening, establishing a paper trail is essential.
If you want this company to stop making phone calls to your number, you must tell its representatives that you are aware of your rights.
Let the company know that you’ve read the Fair Debt Collection Practices Act. Request that all communications from the collection agency be done via mail. After you handle this all-important first step, you’ll be ready to move on and get your collections eliminated from your credit report.
Draft a Debt Validation Letter
To start, prepare a letter which is known as a Debt Validation Letter. It’s a letter which requests that the collection agency proves to you that the debt in question is really your debt.
Sometimes, debt is bought from original creditors. When it is, a collection agency won’t be able to show you documents that prove that the debt belongs to you. It’s also possible that data about your debt isn’t correct.
If you don’t receive documents within the time limit (thirty days), which proves that the debt information is accurate (i.e. the debt is rightfully yours), the collection agency will be required by law to take that entry off of your credit report.
Was Your Debt Validated?
If NCO Financial did prove that the debt is yours, you still have recourse! The next step is creating an Advanced Dispute Letter.
This type of letter should be sent to the three big credit bureaus, which are Experian, TransUnion and Equifax.
In your Advanced Dispute Letter, you should dispute incorrect data that relates to your credit entry and the problems that you’re having with NCO Financial.
To create the letter, you’ll need to access an up-to-date copy of your credit report and then find the entry in question. Look for problems with the entry.
For example, there may be a typo or inaccurate data.
You’ll need to find something improper in the entry in order to utilize this advanced method.
Detail any problems with the credit entry, explain them in the letter, and ask for the entry to be deleted or rectified, so that becomes correct. The credit bureaus will have thirty days to get back to you.
If you can’t find any inaccurate information, one option is to offer to pay the collector, in full or part of the amount they are asking for, as long as there is an agreement to remove it from the credit report after you pay it off.
Get a Free Copy of Your Credit Report
How I Removed NCO Financial Systems From My Credit Report
If you’re the type of person (like me) who would rather not even have to deal with NCO, you should consider hiring a professional credit repair company to remove the negative entry.
For this, I suggest you check out Sky Blue Credit Repair. They’ll take care of you. Check out their website.
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