They started doing business in 1926 and are both first and third party debt collectors.



They are headquartered in Horsham, Pennsylvania. They currently have over 140 operation facilities spread out over 9 countries.

There mission statement says they are customer oriented and committed to integrity, teamwork and quality.

NCO Financial is able to use credit reporting. This means they can make a negative listing on your credit report which will cause your credit score to go down.

You can have a listing from NCO Financial removed. There are two ways of accomplishing this.

1. Dispute the negative listing with the credit bureaus.

You can do this yourself by sending a dispute letter to the credit bureaus. Another option is to hire a professional credit repair company to do this for you.

If you decide to dispute the listing yourself you must send a dispute letter to each credit bureau. The dispute letter says that you are disputing the listing because the information is wrong, you have never paid late, it is not your account, etcetera.

2. You can come to a settlement agreement with NCO Financial. However I would suggest disputing the listing first. If that does not work then consider making a settlement offer.

Do not settle for the full amount of the outstanding debt. You can negotiate the amount to settle. I recommend starting at 50% of the balance.

Also make sure that you have in writing that NCO Financial will remove the negative listing from your credit report in exchange for payment. Otherwise the listing will remain on your credit report and making payment will not help improve your credit score.

You should also be aware that NCO Financial may not be the only company reporting a negative listing on your credit report for this account. The creditor may also have reported this account as a negative listing too.

It is common for collection agencies to sell accounts they have not been able to collect on to other collection agencies. Thus you could have another collection agency on your credit report that has created a negative listing for this account also.

If you have multiple negative listings on your credit report for the same account then I would consider a professional credit repair firm. You would want to do this because if you pay one company the account will still be negatively reported by the other companies.

If the debt is accurate and you make the decision to settle the debt do not pay the full balance. Collection agencies buy outstanding debt for just pennies on the dollar. Thus if you pay the full balance you will be giving the collection agency a lot of money that you do not have to.

Also do not be fooled into believing that NCO has the authority to remove a negative listing from the creditor or another collection agency.

I would recommend having all communications with NCO in writing. This way if there is a breach of the settlement agreement you have written documentation.

In sum, you should first dispute the listing. If unsuccessful come to a settlement agreement with NCO Financial and have them agree in writing to remove the negative listing in exchange for payment.