NCO and the numerous names it uses, LLC, FIN, Portfolio, etc

by Henry
(Baldwin, GA USA)

Several years ago I had a financial meltdown due to the bubble burst and the failure of several firms that my bank was using for my IRA investments. The final blow was the Enron debacle which wiped out my remaining savings and Enron pension! And I lost my job! I became financially insolvent and could not pay my bills. I could not even afford to file bankruptcy!!! NCO gets into the picture and was hounding me constantly, day and night, all hours. Calling friends, relatives, etc. I wrote them and asked they stop all correspondence and phone calls. They did honor that request since I sent it certified mail, return receipt with copies to other collection agencies.

However, NCO still reports to the credit bureaus twice each month on the old debts!! Each time they report, it is reported as a "new collection"-- probably to keep the reporting alive. For each report, they do not show any account number or other info. Most shows previous info, date of debt, etc. as "N/A" They try to make the report appear as a new account. It shows as "N/A" and is reported to me by my credit monitoring service as "New collections account added". I have that service mainly to prevent identity theft.

NCO's reports are NOT new collections!!! Actually the accounts are almost seven years old and should drop off my credit reports soon If the "churning" or "New collection added" maneuver doesn't preclude the credit reporting agency from automatically removing the accounts at seven years from date of original debt. I have no credit cards and exist solely on my Social Security and Walmart Greeting or grocery bagger pittance plus help from my five sons. At age 80 where else could I work? I would like to have a reasonably clean credit report/score before I die!!

Previous complaints to NCO about this weird reporting tactic causes them to move the account to another of their many identities so it appears as a new firm owning/reporting the account.

I will not correspond with NCO, to do so might be interpreted as an acknowledgment of a debt that is well beyond the statute of limitations. The credit bureaus suggest corresponding with NCO since all the CB's do is report what is sent to them, with no verification as to accuracy or validity.

NCO is a very nasty organization that skirts the law at every opportunity as evidenced by some of the large fines they have had to pay. They just find a new way around any obstacles and keep on doing their bad deeds.

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Jan 18, 2012
Never Ending Cycle
by: Anonymous

I disputed a bill with NCO and so now they've given the bill to one of the many companies that they own...however, they never leave a message and I haven't received anything in the mail but I know that it's them from web searches.

Feb 26, 2010
Reporting of old collection accounts
by: Gerri


Thanks for sharing your collection story with us. I am so sorry to hear what an awful financial struggle you have been through.

Collection agencies can report collection accounts for seven years and 180 days from the date you first fell behind with the original creditor. Period.

I am not sure exactly what's going on with the "new" accounts here, but if the collection agency were to manipulate dates so that these accounts can be reported longer than 7.5 years, that would be illegal and you would likely have a case against the collection agency for credit damage.

From what you are telling me, Henry, it sounds like the 7.5 year mark for these accounts to be removed is approaching. Hopefully you are keeping copies of your credit reports. If not, be sure to start a file so you have a record of how the reporting on these accounts have changed.

If any accounts are reported longer than they should be, please contact a consumer law attorney who represents consumers in credit reporting/debt collection cases right away. We would strongly recommend you talk with a consumer law attorney with experience in debt collection cases. Find out how to get a FREE consultation with a consumer law attorney here. There is no fee unless you win your case.

Please do let us know what happens here by posting an update in the comments section of this question. We are very interested in hearing how this turns out for you. NCO is one of the largest collection agencies in the country, and your efforts may not only help you put this matter behind you, but could also help others facing similar problems.

I'll also add that, according to my sources, the statute of limitations in Georgia is 6 years for most types of debts. Disputing an account with the credit reporting agencies because it is too old is your right under federal law. It does not acknowledge the debt or extend the statute of limitations.

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