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Re: Anyone heard of NCO Financial Systems


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Posted by Mr. T (66.65.165.199) on January 17, 2003 at 16:43:27:

In Reply to: Re: Anyone heard of NCO Financial Systems posted by patti on January 17, 2003 at 08:55:33:

Rude B#stards that is for sure. Yes. And liars! Just keep your cool and have fun playing with them.
I had a default student loan with them. It was crazy. I doubt they actually bought loan. They are probably just servicing for Citibank is my guess. ANY info they give is suspect. They make stuff up. ASK THEM TO PRODUCE A HARD COPY THAT THEY ACTUALLY OWN THIS LOAN AND ARE NOT JUST SERVICING. Unfortunately, the majority of the telepeople have the brain size of a squid and don't really know the difference or the definitions they are just the brainless, shouting, bloodhounds who are hust supposed to get the money no matter what and say whatever it takes.
Remember they get paid for what they collect on so the more they get the more they make and of course all the telepeople are under EXTREME pressure to produce. If the telepeople are bad- imagine what their supervisors are like.

I ended up tracking down someone in management at the NCO in Ft. Washington, PA. (they were calling me from call center in Alabama).It took awhile but persistence paid off. This was about two years ago. I'm sorry I forget the name.

Since it was a student loan it is a diffrent scenario BUT I can say they said if I don't pay $6000 by end of month they would garnish my wages, etc. And they also said the minimum payment a month would be $450 or something. When they say there is a minimum they will settle for that is just not a true figure. I didnt't pay any $6000 and got on a plan for $235 a month and then rehabbed my loan. This was done with a cinfirm from someone higher up in the NCO Ft washington office. And now after rehab and consolidation I only pay $165/month. I also spoke with someone at the original creditor to make sure everything was above board and it would be fixed on my credit and I got it in writing.

Keep hounding Citibank for the right person to talk who is liason with NCO if you really want to pay it off they will probably settle for less than %50. If it is $4500, I'm guessing if you pitch $1800 in full they will bite for sure (Citibank not NCO). But do not deal with the NCO telepeople only the higher ups.

Otherwise just let it ride and they will probably stop bothering you after six months if you just dispute it in writing but remember it will be there for 7 years which is a long time and not. I have $3000 from Capital One which comes off in two years and they just gave up because I moved and they couldnt track me down. Anyway, good luck. I know what you are going through.
Hope this helps.


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