“If Debt Collectors from Nco Collection Have Ruined Your Credit, Don’t Give Up”

You Can Repair Your Credit Just Like I Did–And Here is the Proof

A while ago, I got myself into a financial situation that seemed almost beyond repair. I was out of work, drowning in debt, and my credit score barely topped 500. Fortunately, I hired Lexington Law and had my credit completely repaired. Credit repair was really important to me, because it turned out to be the first step on the way to a new job, a better financial plan, and a new lease on life.

If you’re being targeted by debt collectors from Nco Collection or any other company, here’s what you need to do.

First of all, you need to understand the debt collection process. Without an understanding of common practices and a knowledge of your rights, you will easily be overrun by pushy debt collectors and end up roped into unfair agreements.

Debt collection companies buy defaulted accounts, such as credit cards, bank loans, auto loans, and medical bills, from their original creditors for a fraction of the account’s true worth. This means that when the debt collector secures repayment from you, they are automatically turning a profit.

However, most debt collectors are not satisfied with this, and will add plenty of interest and fees to your account to increase their own profit. It’s important to realize that debt collectors are turning a profit so that you can negotiate your payment plan effectively. It may even be possible for you to pay less than the original balance and still have the debt collector turn a profit.

Debt collection agents work on commission, so they have a huge interest in getting you to pay as much as possible and virtually no incentive to help you dispute your debt or acknowledge that your debt may be questionable, inaccurate, or even invalid.

You should never waste your time trying to get your debt collector to feel sympathy for you or your financial problems. Your debt collector is not your friend! If they try to offer you a payment plan that is “in your best interests” don’t believe them. The reality is that debt collectors are naturally acting in their own self-interest to earn a living. You’re just an account number in a database to them.

Debt collectors have a few standard tactics that they use to try to scare or intimidate you into paying them. These tactics include calling you all the time, sending tons of letters with angry red “past due” stamps on them, calling your boss, and even making threats of legal action against you.

One of the most damaging actions a debt collector can take against you is reporting your debts to the credit bureaus as collection items. Each collection item can lower your credit score 100 points or more. If nothing is done about them, collection items can sit on your credit history for years. By ruining your credit, debt collectors hit at the very heart of your financial well-being and hope to pressure you into paying them off.

When interacting with representatives of debt collection companies like Nco Collection, it’s important to understand their mindset and goals so that you can deal with them effectively. Because debt collectors are so single-minded in their pursuit of repayment, the best was to deal with them is often to NOT deal with them at all. Don’t even pick up the phone. It’s the only way to ensure that a debt collector’s high-pressure tactics don’t end up pushing you into accepting a bad payment plan. Plus, time spent talking to a debt collector would be better spent in other ways.

It is also important to know your rights as a consumer. Debt collectors depend on the ignorance of their targets. Once you show that you understand your legal rights, they will often back off considerably.

For example, under the Fair Debt Collection Practices Act, debt collectors are forbidden to call you repeatedly for the sole purpose of annoying you. Yet, most debt collection companies make harassing phone calls as a matter of course. All it takes to get them to stop calling you every day is a strongly worded letter from a lawyer.

The Fair Debt Collection Practices Act also states that debt collectors may not call you before 8 am or after 9 pm, call your employer (once you’ve told them not to), send you mail masquerading as official legal notices, or threaten legal action for the sole purpose of intimidation.

For example, if a debt collector were to tell you he would garnish your wages if you refused to pay, there is a high probability this is an empty threat. In order to garnish your wages, a debt collector would have to first take you to court for your debt, win the case, and then get permission from the court to garnish your wages. In most cases, debt collectors don’t want to expend all this time and energy on your case. It’s easier just to make a threat and let your own fear do the work for them. Be aware that threats of having you arrested, garnishing your wages, placing liens on your property, or seizing your assets are all illegal UNLESS the debt collector 1) has a good case against you and 2) actually intends to take that case to court.

You should also know about the Fair Credit Reporting Act. This act stipulates that debt collectors may not report false information about you to any third party. This act frequently comes into play with regards to the credit bureaus. If the debt collector reports a collection item inaccurately to any of the credit bureaus, that is a violation of the Fair Credit Reporting Act and you can easily get that collection item removed from your credit report.

Now, you may be wondering what you can do with all of this information. Well, the answer is not much–unless you have the help of a lawyer. While you need to be aware of all of this information so that you can avoid being tricked by debt collectors, it is not wise to try to dispute your debt without legal help. Amateurs tend to make mistakes like not putting things in writing, sending too many letters, and even paying on expired debt accounts–all of which make it harder for a professional to help you later.

In my case, I turned to Lexington Law credit repair service for help.

I had been targeted for collection on a $15,000 auto loan by Nco Collection, and I really did not believe that I owed them that full amount. True to form, a representative from Nco Collection called me every day, trying to pressure me into paying on an account I felt was inaccurate. I made a few of the classic mistakes that amateurs make when dealing with debt collectors, including trying to make friends with my debt collector!

Once my debt got reported to the credit bureaus, my credit score began to dip. Overall it went down 100 points. I realized that if I didn’t do something about Nco Collection, my credit would be crippled for years.

I chose Lexington Law because of their decades-long track record of helping people just like me erase black marks from their credit histories and repair their credit. In 2010 alone, Lexington Law removed one million negative items on behalf of their clients.

When I called for my free consultation, a friendly Lexington Law rep listened to my whole story. She was concerned about the age of my debt. She thought that the statute of limitations on my debt may very well have expired already, making it illegal for anyone to try to collect on it. I went ahead and hired Lexington Law, so that they could investigate the statute of limitations in my state, as well as pursue other avenues for repairing my credit.

Within a few short weeks, I got word from the credit bureaus that Lexington Law had erased the Nco Collection item from my credit report! Within a couple of months, my credit score rose up into the 700s.

I’m so glad that I enlisted the help of Lexington Law, so that I could take full advantage of my consumer rights and keep Nco Collection from pressuring me into repaying a debt I didn’t really owe in the first place. Now that my credit is fully repaired, I feel like I have a new lease on life. I couldn’t be more grateful to Lexington Law.

That’s why I felt I had to share my story with you. I’m confident that if you call Lexington Law, they can help and educate you too. They will do everything in their power to repair your credit and get you started on the road to financial recovery.