You Can Remove NCO Financial From Your Credit History

NCO Financial is a collection agency. They work with financial services, healthcare, utilities, education and more.

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 participates in credit reporting. Another way of saying this is they can create a negative listing on your credit report and cause your score to be damaged.

There is hope; you can have this listing removed. There are two options to have a listing removed from your credit report.

1. Directly dispute the listing with the credit bureaus.

This is done yourself by sending a dispute letter to the credit bureaus or you can hire a credit repair firm to handle the dispute process on your behalf.

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.

However before you pay you should negotiate a settlement offer. Often you do not have to pay the full amount. I would suggest offering 50% of the balance.

You should have NCO Financial agree in writing to remove the negative listing on your credit report as part of the settlement agreement. If you do not do this paying the debt will not help your credit score. The listing will remain it will just be changed to a paid collection.

You should know that NCO Financial may not be the only person that creates a negative listing on your credit report for this account. The original creditor probably has created a negative listing for this account also.

It is common for collection agencies to sell accounts that they are unsuccessful collecting on. Thus NCO may have sold your account to another collection agency that has created a negative listing on your credit report too.

If you have the same account reported more than once on your credit report then I would suggest consulting with a professional credit repair firm because making payment to one company will not remove all the negative listings from your credit report.

If the debt is legitimate and you decide to settle do not pay the full balance. Collection agencies buy delinquent accounts for pennies on the dollar. If you pay the full amount you will be giving the collection agency a big profit.

Be aware that NCO only has the authority to remove a negative listing that they have created. They will not be able to remove any other listings that have been created by other companies even if it is for the same debt.

Keep all communication with NCO in writing. Just in case there is a problem you have written proof of your settlement agreement.

In sum, dispute the listing first and if unsuccessful then make a settlement agreement. Put the agreement in writing and remember to have them remove the listing in exchange for your payment.