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Tag Archives: nco financial systems

Does Moran Drexen’s Preferred Creditor Program Create a Problem for Consumers?

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Last week new information in the lawsuit between Morgan Drexen and the CFPB brought to light a commission compensated department called the Preferred Creditor Program. You can read that article, here. At least one commenter mentioned Morgan Drexen is not the only company to have such a program. If not, then an industry wide problem may exist here. One commenter ... Read More »

Morgan Drexen Rumble With CFPB – Update

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Previously covered the suit filed by the debt settlement company Morgan Drexen against the CFPB, here. Today I went to see what, if any, updates there were on the case. Here is the latest: “The Court held two on the record telephone conference calls with the parties on July 24, 2013 and July 25, 2013, during which Plaintiffs consented to ... Read More »

FTC Versus NCO Debt Collector. FTC Wins $3.2 Million Penalty.

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The world’s largest debt collection operation, Expert Global Solutions and its subsidiaries, has agreed to stop harassing consumers with allegedly illegal debt collection calls and to pay a $3.2 million civil penalty – the largest ever obtained by the Federal Trade Commission against a third-party debt collector. In its complaint, [which you can read here] the FTC charged that the ... Read More »

NCO Financial Systems Settles Multi-State Issues Regarding Consumer Debt Collection

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On the heels of the recent settlement with the FTC and DOJ by Asset Acceptance, NCO Financial Systems has announced a settlement with a number of states over “irregularities” or problems. The states included in the settlement are: Alaska, Arkansas, Idaho, Illinois, Iowa, Kentucky, Louisiana, Michigan, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, Rhode Island, South Carolina, ... Read More »

NCO Financial Systems – Scam, Complaint, Review, or Praise?

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Please share your experience with this debt collection company and provide your review and feedback, in the comments section below. The goal of this page is to allow people to share information that may be important to help others to make a more informed decision regarding their experience with this debt collection company. Here are some potential questions you might ... Read More »

Debt Collector Won’t Send Me Debt Settlement Agreement in Writing – Kathy

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Kathy “Dear Steve, Currently in the process of paying a settlement for a debt owed due to my car being repossessed. This settlement is through NCO Financial Systems. The agreement was initially on the phone for a set amount to be paid over 6 months. This was secured with an immediate withdrawl from my bank checking account, and NCO Financial ... Read More »

New York Attorney General Launches Inquiry Into Debt Collection Companies

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ATTORNEY GENERAL CUOMO LAUNCHES INQUIRY INTO DEBT COLLECTORS ACROSS NEW YORK STATE Cuomo Shuts Down NY Collection Agencies That Threatened and Intimidated Consumers Into Paying Debts They Didn’t Owe Sends Subpoenas to Nearly 20 Debt Collectors Statewide Attorney General Andrew M. Cuomo today announced that his office has launched a statewide inquiry into debt collection companies. As part of the ... Read More »

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