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NCO Financial Debt Collection Settlement Still Open to Consumers
By Sarah Pierce
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NCO Financial Systems has been in lot of hot water lately over its debt collection practices, including recent allegations it secretly records phone calls with consumers in violation of the law. The latest claims come nearly a year to the day that Ohio Attorney General Mike DeWine announced that he and 18 other state AGs had reached a $1.5 million class action settlement with NCO over unfair and deceptive debt collection practices.
NCO did not admit wrongdoing in agreeing to the $1.5 million class action settlement, which required the company to pay a total of $950,000 – or $50,000 per state – to compensate consumers who proved they wrongly paid NCO. The settlement also required NCO to pay the states $575,000 in reimbursement for the cost of the four-year investigation.
Consumer restitution is still available under the NCO Financial Systems settlement and will be for three years following the effective date. Consumers can receive a refund of money they wrongly paid NCO if they meet the following criteria:
- Consumer paid NCO a third-party debt that the consumer did not owe;
- Consumer overpaid interest on a third-party debt that was not supported by the underlying agreement between the debtor and the original holder of the debt or as otherwise permitted by law; or
- Consumer paid more on a third-party debt than the amount NCO agreed to settle the account. Â
Consumers must reside in the following states to receive a refund: Alaska, Arkansas, Idaho, Illinois, Iowa, Kentucky, Louisiana, Michigan, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Oregon, Rhode Island, South Carolina, Vermont, and Wisconsin.
Consumers who believe that have a valid claim for restitution should contact their state Attorney General’s Office before February 2015. Consumers may also participate in a new class action lawsuit investigation if NCO contacted them on their cell phone without their consent.
If you were contacted by a debt collection agency on your cell phone without your permission you might have a legal claim under the Telephone Consumer Protection Act. Go to the TCPA Class Action Lawsuit Investigation to learn how to participate in this free investigation and receive up to $1,500 each time you were unlawfully contacted.
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Updated February 13th, 2013
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All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
8 thoughts onNCO Financial Debt Collection Settlement Still Open to Consumers
I would like to be a part of this lawsuit!!!:)
My husband and I are still being hounded.! We paid them the first week of June 2008 , after being threatened and harrassed every day!!!! This is one of the most unprofessional companies ever, my son was really ill at the time of the harassment and we didn’t need the problems . We had to borrow the money to pay them and now almost 5 years later ….with a different name they are trying to get payment again!!! What did my family do to deserve this !!!!:(
they call at and embarrassing time while we were in a car with others.
I bet those schizters at NCo will find a way to take any settlement a claimant gets to use towards the alleged debt they were harassing the claimant over in the first place!
Re: Mortgage Class Action Suit.
The date for closing(1/13/13)of this suit has come and gone, yet we have heard nothing regarding settlement. Do you have any idea how long it will be before it is settled? My claim was submitted10/22/12.
Thank you
HOW DO I GET MY NAME ON THE LIST OR CHECK IF I
AM INCLUDED ON OR IN SUIT FILED AND SETTLED WITH
NCO FINANCIAL INSTITUTE. YOU HAVE NOT NOR DO YOU SUPPLY INFO. ON HOW TO MAKE CERTAIN OR TO GET YOUR NAME ON THESE SUIT FILED THAT HAS HAPPEN TO US, YOUR INFO YOU SUPPLY ONLY PROVIDES NAMES OF WHOM WAS
SUED AND FOR HOW MUCH?
in collections since 2011 making payments
I would like to join in this lawsuit. NCO has hounded me, and continued to call me although I faxed them a letter demanding that they do not call my phone number. They continued to do so for a long time.