NCO Financial - How to Remove From Your Credit Report

NCO Financial works as a collection agency. They collect for industries including healthcare, education, financial services and more.

They first opened in 1926 and do first and third party collections.

They have 140 operation centers spanning 9 different countries. There headquarters are in Horsham, Pennsylvania.

They say they are committed to teamwork, integrity and are customer oriented.

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.

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 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.

Be aware that NCO Financial is probably not alone in reporting this account on your credit report. The original creditor is probably reporting this account as a negative listing as well.

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 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.

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 arrangements to settle your account. Get in writing that the listing will be removed from your credit report in exchange for payment.