topic Re: NCO Financial System Questions?? in Rebuilding Your Credit

NCO Financial System Questions??

Give_Me_Credit_Please — Thu, 03 Jan 2013 04:51:13 GMT

I was wondering if anyone had any experience with NCO Fin System. I had a collection account that's been paid off in 2008 but still sits in my file. Has anyone had any luck getting this removed with a "GW" letter and if so can you PM me the address. Thank you in advance.

Re: NCO Financial System Questions??

Anonymous — Thu, 03 Jan 2013 05:08:28 GMT

I have had two separate experiences with NCO Financial, one good, one bad.

1. My wife had an AAFES Star Card sent to them for collections. She set up a payment plan to pay it off in 14 payments, all of which were automatically deducted from our checking account. After the 14 payments were paid, they stopped pulling the payments and we assumed all was well. We found out differently when we filed our tax return the next year and AAFES used the Tax Offset Program to take it for an outstanding balance. AAFES stated that they only received 9 of the 14 payments from NCO financial and that left a balance and they naturally had added thousands in late fees, collection fees and any other fee they could make up to fatten the balance back up. Even after sending them my bank statements showing the payments were pulled by NCO Financial, AAFES did not care. They told me to sue NCO Financial, who they hired and who did collect 14 payments of $485 from our account. It took us over a year to fix the problem and we never got a dime of that money back. They do this because they know hiring an attorney to get your money back would cost you more than the couple grand they stole from you and quality consumer attorneys are almost impossible to find.

2. My second experience was due to an unpaid federal student loan. When I defaulted, it was sent back to my home state and they used a different arm of NCO Financial to collect on defaulted student loans. In this instance, federal law worked in my favor and that is why I think this was a far more favorable experience. The government requires that student loan debtors are given an opportunity to rehabilitate their student loan through a loan rehabilitation program. You set up affordable payments with NCO Financial that are automatically pulled from your account. After nine "timely" (their wording) payments, the remaining balance is given to a regular lender and you pay the remainder off with that lender and your loan is considered rehabilitated. They then remove the default status from your credit report. The lates don't get pulled off, but the default does. This was a very positive experience for me and I almost have my student loan paid off.

What your experience would be is a roll of the dice. If you do work with them, I’d get everything in writing. In example one, we did everything over the phone with them. Always get it in writing before giving them a single penny. In example two, everything was in writing. That may have been the difference on top of the federal requirement.

Re: NCO Financial System Questions??

Give_Me_Credit_Please — Thu, 03 Jan 2013 14:37:39 GMT

Yes I would say that was a bad experience for you and absolutely you have to get everything in writing. These collection company's don't seem to care if you paid more or if they made a mistake, all they care about is getting their money without doing any leg work. Well thanks for the heads up with this company. My situation is this account is paid off since 2008 and I'm gonna write them a "GW" letter to hopefully have them remove it. I talked to a rep and she said it takes 7 years for it to fall off by it self but I can't wait that long specially in the rebuilt process. I'll keep you updated on what happen. Thanks

Re: NCO Financial System Questions??

Anonymous — Thu, 03 Jan 2013 20:12:53 GMT

All I did was dispute online and they got removed

Re: NCO Financial System Questions??

Anonymous — Thu, 03 Jan 2013 20:41:17 GMT

All I did was send them a DV CMRRR, and they folded within a week. (This was on an unpaid Time Warner Cable account, I have since paid the OC directly to ensure this will not pop up with another CA)

Re: NCO Financial System Questions??

Anonymous — Thu, 03 Jan 2013 21:16:01 GMT

@Anonymous wrote:
I have had two separate experiences with NCO Financial, one good, one bad.

1. My wife had an AAFES Star Card sent to them for collections. She set up a payment plan to pay it off in 14 payments, all of which were automatically deducted from our checking account. After the 14 payments were paid, they stopped pulling the payments and we assumed all was well. We found out differently when we filed our tax return the next year and AAFES used the Tax Offset Program to take it for an outstanding balance. AAFES stated that they only received 9 of the 14 payments from NCO financial and that left a balance and they naturally had added thousands in late fees, collection fees and any other fee they could make up to fatten the balance back up. Even after sending them my bank statements showing the payments were pulled by NCO Financial, AAFES did not care. They told me to sue NCO Financial, who they hired and who did collect 14 payments of $485 from our account. It took us over a year to fix the problem and we never got a dime of that money back. They do this because they know hiring an attorney to get your money back would cost you more than the couple grand they stole from you and quality consumer attorneys are almost impossible to find.

2. My second experience was due to an unpaid federal student loan. When I defaulted, it was sent back to my home state and they used a different arm of NCO Financial to collect on defaulted student loans. In this instance, federal law worked in my favor and that is why I think this was a far more favorable experience. The government requires that student loan debtors are given an opportunity to rehabilitate their student loan through a loan rehabilitation program. You set up affordable payments with NCO Financial that are automatically pulled from your account. After nine "timely" (their wording) payments, the remaining balance is given to a regular lender and you pay the remainder off with that lender and your loan is considered rehabilitated. They then remove the default status from your credit report. The lates don't get pulled off, but the default does. This was a very positive experience for me and I almost have my student loan paid off.

What your experience would be is a roll of the dice. If you do work with them, I’d get everything in writing. In example one, we did everything over the phone with them. Always get it in writing before giving them a single penny. In example two, everything was in writing. That may have been the difference on top of the federal requirement.

I wouldn't let this go. AAFES should not have pursued it seeing you have proof NCO recieved the money. NCO failed to meet their contract with AAFES by not giving them the money. AAFES should be suing NCO along with you.

Have you tried going up the chain with AAFES?

Re: NCO Financial System Questions??

Give_Me_Credit_Please — Fri, 04 Jan 2013 02:17:47 GMT

Can you PM me that info? Thanks

Re: NCO Financial System Questions??

Shogun — Fri, 04 Jan 2013 04:09:35 GMT

Airdog I believe your situation requires legal counsel. I would get an attorney for that one.

Re: NCO Financial System Questions??

Lasardo — Fri, 04 Jan 2013 05:43:58 GMT

In response to your question..
NCO was great about removing with a GW letter for me.

Re: NCO Financial System Questions??

Lasardo — Fri, 04 Jan 2013 05:47:13 GMT

I would also attempt to dispute, look for any incorrect info ie: address, account number etc..
They should remove after a dispute.

Re: NCO Financial System Questions??

Anonymous — Fri, 04 Jan 2013 09:06:19 GMT

I've been all the way up to the Inspector General. They were the onese who told me to go after NCO Financial. I found that to be horse **bleep** since they hired them to come after my wife. They set up the payment play for my wife and pulled all of the payments out of my account. How the hell is the consumer who agreed to this and paid all of them suppoed to be held liable for the money not getting from their hired collection agency to them? And then we're just supposed to eat that $2500 they stole from us? We have an incredibly anti-consumer system in the US. If you don't have money to fight these thugs, you're goin to get screwed out of a lot of money. And with AAFES it is the worst becasue they are a government entity and can take your tax returns.

Re: NCO Financial System Questions??

Anonymous — Tue, 12 Feb 2013 02:46:05 GMT

Can you PM me what you put in the letter to have removed, I am going thru somethng with them, please help, Thanks for your support.

Re: NCO Financial System Questions??

Anonymous — Thu, 28 Feb 2013 07:36:08 GMT

I am experiecing this same situation with AAFES (NCO Financial Systems) as we speak. I kept wondering why I did not receive my return as the IRS stated I would, then I found some 800# to the Treasury that stated that I had an offset to my return in the full amount. What I do not understand is that I have been faithfully making payments to my star card before and after my separation. And in the middle of my payments, I received a letter stating I was deliquent and being threatened with wage garnishment. Apparently all of my payments was being sent to the account that was not closed. My retail card was closed and account number changed, and I was never notified. Well I made payment arrangements with NCO Fin. Systems and receive a statement every month stating that there is an arrangement for payment, etc and AAFES confirms receipt of the payment, yet they still offset my return this year. What's even more strange is that they never did a wage garnishment and I have been a government employee since my separation. It makes no sense to me. Yet, the statement I received last week states that they will be debiting the payment out of my account. i was told and received in writing that as long as I made payment arrangements that my wages will not be garnished (which didn't happen) and my taxes would not be offset (which did happen). WTH!?!?!?!

Re: NCO Financial System Questions??

Anonymous — Wed, 12 Jun 2013 02:12:48 GMT

NCO is nothing but a rip off, you need to email aafes directly and deal with them. If you call the number they'll just refer you to NCO but email them at collections@aafes.com <collections@aafes.com>;

My situation, When Aafes sent my account to NCO I owed 4300. NCO tried to make me pay 8000. I offered Aafes 4300 and they said no, I would have to pay back 4700. Paying a few hundred extra to Aafes in one payment is better than paying NCO and hoping they sent Aafes their cut of the payments. Don't settle with NCO! Save up some money and offer Aafes a settlement!

Re: NCO Financial System Questions??

Anonymous — Tue, 10 Sep 2013 14:30:53 GMT

Concerning the second experience detailing student loan management via NCO I have also used there services to recover federal taxes as a result of default My taxes were appropiated to the IRs for five years i finally gave nco a chance and they removed the default status I was able to recover my taxes that year and also became eligable to ereattend school I was amazed that the process worked I recieved confirmation through the IRS and also the dept of education and direct loan consoloidations i also hired a company called mohela and a debt management firm i had a circle of several entities double checking and verifying my payments so it was a real senario that liberated my finances Good luck with your circumstances Now my school is closing so I may be eligable for a loan forgiveness program as well if you have a permant disability you can also remove all debts if you have proof. www.facebook..com/minority.buyer

Re: NCO Financial System Questions??

Anonymous — Tue, 10 Sep 2013 14:39:28 GMT

Concerning the second experience detailing student loan management via NCO I have also used there services to recover federal taxes as a result of default My taxes were appropiated to the IRs for five years I finally gave nco a chance and they removed the default status I was able to recover my taxes that year and also became eligable to resume my higher learning matriculation. I was amazed that the process worked I recieved confirmation through the FL Dept of Education IRS and also the US Dept of Education and Direct Loan Consoloidations i also hired a company called Mohela and a non profit 501C-3 Debt management firm I had a circle of several entities double checking and verifying my payments so it was a real senario that liberated my finances Good luck with your circumstances Now my school is closing so I may be eligable for a loan forgiveness program as well if you have a permant disability you can also remove all debts if you have proof. www.facebook.com/minority.buyer

Re: NCO Financial System Questions??

Kizzel00 — Tue, 10 Sep 2013 14:44:47 GMT

This is unrelated, but I used to work for NCO in their Billing department for a utility company. I had no clue they were a CA hahs