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Remove NCO Financial From Your Credit Report

NCO Financial is a collection agency. They collect for retail, financial services, healthcare and other industries.
They have been in business since 1926. They do both first party and third party collections.
They are headquartered in Horsham, Pennsylvania. They currently have over 140 operation facilities spread out over 9 countries.
They claim to be customer oriented and committed to integrity, teamwork and quality.
NCO Financial has the authority to do credit reporting. Meaning they can make negative listings on your credit report. If this happens your credit score will be lowered.
However you do have hope. You can have a listing from NCO Financial deleted. You have two options to have this listing deleted.
1. Directly dispute the 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 mail a dispute letter yourself you have to send a letter to each credit bureau. The dispute letter is your legal way of telling the credit bureaus that you are disputing the accuracy or validity of the listing. In the letter you must state the reason for your dispute. Common reasons are: you have never paid late, information is wrong; account was paid before being sent to collections, etcetera.
2. You settle the debt with NCO Financial. I suggest disputing the listing first and if that does not work then explore a settlement offer.
You do not have to pay the full balance with your settlement. I would suggest starting your offer at 50% of the balance of the outstanding debt.
Make sure to have NCO Financial agree in writing to remove the negative listing in exchange for your payment. If you do not do this the negative listing will stay on your credit report and will still hurt 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 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.
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, 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.

Article Source: http://articles.yournetguru.com

To learn more about how to remove NCO Financial from your credit report or for information about how to proceed with an equifax dispute or for a free dispute letter visit us.

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