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About NCO Financial

Michael Agruss

Written and Reviewed by Michael Agruss

  • Managing Partner and Personal Injury Lawyer at Mike Agruss Law.
  • Over 20 years of experience in Personal Injury.
  • Over 8000+ consumer rights cases settled.
  • Graduated from the University of Illinois Chicago School of Law: Juris Doctor, 2004.

Have you been dealing with what seems to be endless phone calls and harassment from NCO Financial? Learning about NCO Financial and what you can do about the harassment are the first steps toward easing your stress.

NCO Financial Systems, Inc. is a debt collection agency headquartered in Horsham, Pennsylvania. They have locations throughout the United States and Canada. NCO focuses their collection efforts in the healthcare and legal fields. NCO collects on unpaid medical and attorney bills.

NCO Financial Systems is a subsidiary of NCO Group, Inc. NCO Group employs approximately 30,000 people in over 100 locations. NCO Group has several other subsidiaries. NCO Customer Management, Inc. focuses on customer relationship management. Additionally, University Accounting Services, LLC (UAS) is a collection agency that focuses exclusively on the collection of student loans. Transworld Systems, Inc. (TSI) is also an accounts receivable management company, like NCO Financial Systems. Systems & Services Technologies (SST) is a Third-Party receivable servicer.

In 2004, NCO Group was fined by the Federal Trade Commission (FTC) for improperly reporting consumer debt, which is in violation of the Fair Credit Reporting Act (FCRA). The FCRA and FDCPA encompass the majority of consumer rights laws in the United States. NCO agreed to pay a $1.5 million dollar fine. The issue here was that NCO allegedly acquired incorrect information regarding consumer’s credit files from the former service provider.

In 2006, in the Commonwealth of Pennsylvania, NCO paid $300,000 for violations of the state’s consumer protection statute. Many of these violations alleged NCO violated the FDCPA. Many states have their own consumer protection statutes that can supplement the FDCPA. Therefore, a consumer may be able to bring a cause of action under both the state and federal statutes. For instance, in Florida, consumers can bring an action for violating both the FDCPA and the Florida Consumer Collection Practices Act (FCCPA). In California, consumers can bring an action under the FDCPA and the Rosenthal Fair Debt Collection Practices Act.

NCO is not accredited with the BBB. None of the aforementioned subsidiaries are accredited by the BBB. NCO Financial Systemswas named as a defendant in 2,805 lawsuits, since 1992. 2,734 of those cases were filed after the year 2000. The majority of these lawsuits are consumer credit cases. NCO Group was named as a defendant in 127 cases since 1997. Since 1986, Transworld Systems, Inc. was named as a defendant in 376 lawsuits. 271 of those coming after the year 2000.

Have you been dealing with what seems to be endless phone calls and harassment from NCO Financial? Learning about NCO Financial and what you can do about the harassment are the first steps toward easing your stress.

NCO Financial Systems, Inc. is a debt collection agency headquartered in Horsham, Pennsylvania. They have locations throughout the United States and Canada. NCO focuses their collection efforts in the healthcare and legal fields. NCO collects on unpaid medical and attorney bills.

NCO Financial Systems is a subsidiary of NCO Group, Inc. NCO Group employs approximately 30,000 people in over 100 locations. NCO Group has several other subsidiaries. NCO Customer Management, Inc. focuses on customer relationship management. Additionally, University Accounting Services, LLC (UAS) is a collection agency that focuses exclusively on the collection of student loans. Transworld Systems, Inc. (TSI) is also an accounts receivable management company, like NCO Financial Systems. Systems & Services Technologies (SST) is a Third-Party receivable servicer.

In 2004, NCO Group was fined by the Federal Trade Commission (FTC) for improperly reporting consumer debt, which is in violation of the Fair Credit Reporting Act (FCRA). The FCRA and FDCPA encompass the majority of consumer rights laws in the United States. NCO agreed to pay a $1.5 million dollar fine. The issue here was that NCO allegedly acquired incorrect information regarding consumer’s credit files from the former service provider.

In 2006, in the Commonwealth of Pennsylvania, NCO paid $300,000 for violations of the state’s consumer protection statute. Many of these violations alleged NCO violated the FDCPA. Many states have their own consumer protection statutes that can supplement the FDCPA. Therefore, a consumer may be able to bring a cause of action under both the state and federal statutes. For instance, in Florida, consumers can bring an action for violating both the FDCPA and the Florida Consumer Collection Practices Act (FCCPA). In California, consumers can bring an action under the FDCPA and the Rosenthal Fair Debt Collection Practices Act.

NCO is not accredited with the BBB. None of the aforementioned subsidiaries are accredited by the BBB. NCO Financial Systemswas named as a defendant in 2,805 lawsuits, since 1992. 2,734 of those cases were filed after the year 2000. The majority of these lawsuits are consumer credit cases. NCO Group was named as a defendant in 127 cases since 1997. Since 1986, Transworld Systems, Inc. was named as a defendant in 376 lawsuits. 271 of those coming after the year 2000.

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