After three years of investigation into allegations that NCO Financial Systems, Inc. misled consumers and practiced deceptive debt collection techniques, the company has settled with 19 states for restitution to be paid to consumers negatively affected by the company. Through the settlement, NCO has agreed to pay $50,000.00 to each state that will be used as restitution to consumers who can show they wrongfully paid the collection agency, plus another $575,000.00 for reimbursement to the Multi-State Group for various costs. The Multi-State Group represented the 19 states during the three-year unfair debt collection investigation.
Consumers are eligible to receive money from the settlement if they have done one of the following things: paid more on a debt to NCO than the agency agreed to settle on; paid the agency for a third-party debt that wasn’t actually owed to NCO; or were charged interest that wasn’t permitted by law or the original contract. Additionally, NCO has agreed to change its collection practices to comply with state and federal debt collection laws.
The states included in the Multi-State Group are: Alaska, Arkansas, Idaho, Illinois, Iowa, Kentucky, Louisiana, Michigan, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, Rhode Island, South Carolina, Vermont, and Wisconsin.
Even though consumers are entitled to both state and federal protection from unfair debt collection practices abuses still occur. If you or a loved one has been the victim of such practices, contact San Bernardino unfair debt collection attorney Howard D. Silver for help. For more information, call the Law Offices of Howard D. Silver at (866) 49-LEMON.