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If you are being contacted by NCO Financial it is regarding an unpaid debt. Sometimes they are also referred to as NCO group or NCO financial systems. They are an aggressive collection agency with a history of FTC violations.
NCO is often hired to come in and collect a debt for a lender they also will purchase debts and collect for themselves. They have a reputation for ruthless collection methods that often run afoul of the law.
In 2004 the FTC imposed a $1.5 million dollar punishment on NCO. NCO had been exploiting the credit system. They were reporting debts late in order to keep the debt on the borrowers’ credit report for more than 7 years. The fair credit reporting act says that a delinquent debt can by law only remain on your credit report for 7 years.
Collection agencies are known to have called a borrowers family member, neighbors, places of employment in order to collect payment. To stop a collection agency from contacting you in the future you need to mail a letter where you say you do not want further contact from them.
I strongly recommend sending this letter certified mail, so you have proof that it was sent. Also fax a copy and save all documentation of any communication between you and the agency. This will help when filing a complaint or filing a lawsuit against the collection agency.
Upon receipt of this letter, the collection agency will be able to contact you one more time with how they plan on continuing their collection effort. Then contact must stop according to the Fair Debt Collections Practices Act. This act was made by congress to protect debtors from the abuse of debt collectors.
The Fair Debt Collections Practices Act says debt collectors can not misrepresent themselves or tell anyone else about your debt other than you and your attorney. Typically this piece of legislation is completely ignored and collection agencies frequently go unchecked.
The FDCPA was an attempt by congress to protect debtors from being abused by debt collectors. Collection agencies are frequently brought to court because they do not comply with the FDCPA. However agencies have become very skillful at hiding assets and changing their operation name to avoid a lawsuit or paying on a successful one.