Financial Tips from Someone Who Worked for NCO Financial Collection Agency
From Someone Who Knows
My schedule while working at NCO Financial consisted of a 40 hour work week including 2 nights per week. Occasional weekend work was also required as collection totals dictated. I was now referred to as a debt collector. The debt collection floor was a large room filled with many cubicles. Everyone was separated into collection teams assigned to different agencies and companies. Each debt collector was expected to follow strict company policies in regards to dealing with debtors. Every debt collector was given a training course which consisted of 40 hours of classroom training provided by NCO Financial. Topics covered during the classroom instruction included collection techniques and the Federal Debt Collection Practices Act (FDCPA) which is a federal regulation that governs collection practices.
Although I was comfortable interacting with people while working in the medical field, I found the task of collecting money from people hard to deal with. Although I did not choose to make a life long career out of being an NCO Financial debt collector, I did learn things that would help if I was unfortunate enough to have future dealings with debt collectors. Although dealing with a debt collector may seem embarrassing or intimidating, following these tips will make the interaction run a lot more smoothly.
You do have rights. The Federal Debt Collection Practices Act (FDCPA) is legislation designed to streamline the debt collection industry. The FDCPA covers every aspect of the debt collection process including acceptable times to call debtors and acceptable ways to speak with debtors on the phone. Harassment and the release of confidential information is expressly prohibited in the FDCPA. The FDCPA is in place to ensure that a debtors rights are not abused. For example, a debt collector does not have the right to threaten your life in order to get you to pay a debt.
Collectors are real people. There are good and employees in every job field. Debt collectors are not immune to this reality. Everyone has their own collection style. Some debt collectors are extremely friendly while others take a more hard nosed approach to collecting debts. Don't let an overzealous debt collector be the reason why you refuse to pay your debt. If you are seriously offended by your debt collector, request to speak with another debt collector.
Do not be afraid to negotiate debt repayment terms. Your credit history is being adversely affected the longer you put off paying your debt. It is the debt collectors task to recoup as much of the outstanding balance as possible. If you are unable to pay the entire debt in one payment, offer reasonable alternative payment plans to the debt collector. Many times, the debt amount can be broken into smaller monthly payments.
Notify the debt collector if your financial situation changes. If you are unable to make a scheduled payment, calling the debt collector to cancel the payment will do much more good than failing to keep your word and letting a check bounce. If you happen to acquire a lump sum of money, you may be able to settle your debt for less than the original outstanding balance. Never be afraid to take charge of your financial situation.
My time working as a debt collector with NCO Financial taught me that collection phone calls are never fun to receive or to make. Once you receive a collection phone call, your goal should be to resolve the matter as quickly as possible. Don't let pride or self pity continue to lower your credit score.
Published by Mika Lo
- How Credit Card and Other Debt Collectors Routinely Break the LawHas the current economy affected you in ways you never thought possible? Has a debt collector threatened to take your home, have you arrested or called you a criminal? He was breaking the law.
- Truths About the Debt Collection IndustryA 20 year veteran tells all about what really goes on inside the doors of one of the nations most misleading industries
How to Deal with Debt CollectorsDealing with debt collectors can be frightening and overwhelming, but it doesn't have to be if you are properly informed.- Not All Debt Collection Agencies Are HonestDebt collection agencies are never a pleasant experience for one to deal with, and while some are legitimate there are a few that are downright scam artists and have numerous complaints against them; one of them is N...
- Fair Debt Collection Practices Act: What Collection Agencies Can Not DoThis is an overview of the practices which are prohibited under Fair Debt Collection Practices Act.
- Fair Debt Collection: Facts Often Overlooked
- Estates Information Services: Another Debt Collection Scam Agency
- How to Stop Collection Agencies from Calling You at Work
- 6 Things Debt Collectors Cannot Do
- The Best and Most Effective Way to Deal with Collection Agencies
- Why Collection Agencies Have Problems Complying with Fair Debt Collection Laws
- What To Do If You Are Harassed by Creditors & Debt Collectors
120 Comments
Post a CommentWhy are people so against the NCO financial system??? I dont understand it! I had a hospital bill sent to them because the hospital NEVER returned my 100s of phone calls to set up a payment plan! NCO set up a $10.00 payment plan that I have been paying on for about 3 years now. Last year when my daughter was born 7weeks early and I was at the hospital with her, I forgot all about my payment! My account rep called me to find out if something was wrong because she didn't recieve my payment! I told her what had been going on the last month and she told me not to worry about the payment and she would mark on the account that one wasn't due until the next month! I have had an amazing account rep and my bill is almost paid off. Also, this debt/bill has NEVER shown up on my credit score! I have bought a car and a house since this bill was sent to collections and it hasn't affected my credit score at all. I have also been able to get ahold of my account rep every time I have called
Hello.
I am trying to reach someone so I can discuss my depth, I would like to pay what I owne, and would like it to be removel from my credit report because I need my credit to be a 630, Please call me at 337-298-4885
Thanks!!!
Okay, I've been reading thru all the comments. I had a $6K student loan that I defaulted on. I was married at the time and didn't realize he had no intention of helping support me. I left him which put me in financial ruin. It took a long time for me to creep back up on my feet and they harrassed me the whole way. Called me names. Called and hung up at various times. Called several times a day to leave the same message over and over. Finally, I felt I could begin paying my debt and sent a letter explaining how much I would send every month and then I called them. The guy at the other end of the line yelled at me, called me names. The whole time, I was as calm as can be. I even told him that his voice was rising and that I would need to hang up on him if he continued like that. He wanted me to set up an automatic payment plan and I said no. I would pay by check. After three months of payment, an NCO rep called stating I needed to sign an agreement. I told her I already sent my a
For those who feel you are being contacted by NCO (or anyone else for that matter) in error, the resolution is simple. Once they identify themselves, say "Please remove me from your call list". Say it multiple times if they keep trying to interrupt you. This has always worked for me.
Very funny really. We are getting harrassed for a credit card we never had. We haven't had a card in almost 20 years. So why have they called my husband four times at work? Oh because they are a good company hahaha
I too had a bill with Nextel some years ago, we came to an agreement and I paid them the agreed amount. Since then every few months a different bill collector calls, I tell them I paid the bill and have the cancelled check to prove it. Everytime their reply is "Well, you didn't send ME the paperwork.". After several mailings of a copy of my cancelled check I have quit even talking to these scum.
TO Anthony Santiago
(Guest) 07/10/2010
Proof read, re-read, have someone else proof read re-read, again after that re-read your post because if you're spelling is atrocious looks like a JR. High School kid who posted that. I don't know how you got into the financial business. I guess an APE or CHIMPANSEE can do your job. How do I know you ask they HIRED your DUMBASS!!! taking a hard look at what you posted "I am an Nco employee, have been for many years and i bonus every month collecting for bank of america. People you best bet is to pay the money back and stop hiding in shame and being scum bags. Truth is nobody forced you to sing the contract. you were trying to live a lifestyle you couldnt afford. nco gives out settlments all the time unless its a student loan. for my dept as a 1 time lump sum sif we can cut the balance by 50% and lower it down to a 40% sif and in some states 20%. now thats some shit. settling your debt for 40 cents and even 20 cents on the dollar,
We received a bill from NCO saying that they were collecting on an old Sprint bill. When I called them, they could not provide me with any info on the bill other than that it was from 2001. I told them that I had lived in the same house for over 20 years and couldn't understand why Sprint didn't bill me themselves or why they didn't tack it onto my current bill. I told them I would not pay them unless I could verify from Sprint that I actually owed it. Sprint had no record of it and then I realized that the only reason we are with Sprint is because of their merger with Nextel so in 2001 and many years prior to that, we didn't even have an account with Sprint. When I called NCO back, they would not talk to me.
Yea the one time I actually talked with someone from NCO...told them how much I was making, what my bills were, etc. They responded by telling me they were sure I could come up with the payments they wanted by standing on a street corner and selling myself. I was young and obviously very upset. I spent the entire phone call in tears after that. That was the last time I let a collector harass me. I'm all about paying my bills...but sometimes things happen. Nobody deserves to be disrespected. You don't know the situation and even though I'm sure NCO workers have heard it all...that still doesn't give you the right to put a person down like that. Now the one collection agency I don't mind dealing with...GRC. They have been fantastic and are very sympathetic and courteous.
nco is not trying to harass u. if u dont owe the money then call back and tell them its the wrong number. its that simple. no ones out to get u or corner u into saying you owe when u dont. anyone who says there getting harassed are just sue happy fucks. its not hard to call back and say wrong number, stop calling, im not the debtor. and if you keep getting calls from them after that it would be because another company from nco is calling u because some scumbag used your number or had it previously. dont blame ppl for doing their jobs