NCO Financial is headquartered out of Pennsylvania. They have been operating since the early 1920's.
They are located across 9 different countries with over 140 operation facilities. They collect on accounts related to education, utilities, health care and more.
If NCO has created a negative mark on your credit report it has caused your credit score to be lowered. You should remove this mark as soon as possible to increase your score.
To remove this listing I suggest you dispute it with the credit bureaus. To do this a dispute letter must be sent to the credit bureaus.
In the dispute letter you must tell the credit bureaus why the mark is incorrect. Reasons vary from person to person but some common ones are; information is wrong, account is paid in full, item is out of date and not my account.
When the credit bureaus get your dispute letter and find that it is valid, they will then conduct an investigation into listing. During this investigation the credit bureaus will contact NCO Financial and ask them to verify the amount and dates of the disputed listing.
It is common for listings to be deleted once they are investigated. This occurs because NCO Financial is not willing to spend the resources to verify a debt. So it is common for any listing to be removed once the investigation occurs because NCO and other financial institutions will not spend the resources to verify disputed debts.
However the difficulty is to get the credit bureaus to actually conduct the investigation. This is because it costs the credit bureaus money to investigate, so they are resistant to the dispute process.
Frequently the credit bureaus will respond to a dispute letter by asking for more information about the disputed listing. They do this in an attempt to frustrate you and have you give up on the dispute process.
The Fair Credit Reporting Act that congress passed and continually amends was created to protect you. This piece of legislation forces the credit bureaus to investigate disputed listings and have them deleted if found unverifiable or inaccurate.
If the debt that nco financial is attempting to collect on is legitimate then you should settle the debt. When you settle this debt you need to send NCO a letter offering a settlement.
In this settlement letter, I strongly encourage you to get in writing from NCO that they will remove the negative listing in exchange for your payment. If you do not get this then you will be forced to dispute the negative listing later.
You should settle this debt for only a fraction of the total amount due. The reason for this is because with all the late fees and penalties your balance has been inflated. Furthermore NCO bought your debt for only pennies on the dollar. Just so you know an inaccurate amount due, is grounds to dispute a listing.
In sum, I suggest disputing the listing with the credit bureaus. This can be done yourself and I recommend that method if you have very few negative marks on your credit. If you have multiple negative marks then I suggest a credit repair firm.
