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nco financial systems


Subject: Thomas Stallings - National Collegiate Trust ACCT # 4570745838PAO for administration of payments

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Contact information:
NCO financial Systems
936 country club blvd
United States
Phone: 7576136088
Subject: Thomas Stallings - National Collegiate Trust ACCT # 4570745838PAO for administration of payments
To Whom It May Concern,
Thomas N. Stallings defaulted on educational loans in which I co-signed in December 2009. First and foremost, as the co borrower I never received any request for payment from American Education Services (AES) or a default notification / warning of non payments. My first acknowledge of failure to pay was in reviewed of negative information on my credit report in January 2010.
I immediately contacted AES and advised them that this default status impacts my creditworthiness and requested how to initiate restitution on this loan. They advise me that the loan had been forwarded to Diversified Collections Services (DCS), RE: Thomas Stallings - National Collegiate Trust ACCT # 4570745838PAO for administration of payments.
As of February 2010, I took corrective action on behalf of my creditworthiness in complying with a negotiated scheduled payment plan with Diversified Collections Services (DCS), RE: Thomas Stallings - DCS ACT #90016404171. Point of contact: Mr. Jason Bradley (800) 927-7667, ext 6607.
Paid a Good faith payment in advantage of $8000.00 and follow on negotiated payments of $1000 dollars for the first three months (total $3000.00) and then re negotiated scheduled payments for five hundred dollars per month via my Wells Fargo’s checking account. DCS collected 22 payments of $500.00 via an Automatic Payment from my bank through November 2011 the 25th of each month (total $11000.00). On the 21st of February 2012, I notice that DCS was not taking the scheduled payment of $500 payment via Wells Fargo Automatic Payment plan payments. The checking account had no insufficient issues; therefore, I notified DCS of their failure to collect three month of payment and forwarded a $1500 check for the months of December 2012, January 2012 and February 2012 in order not to default on the arranged agreement and request that they continue to debit the agreed payments of $500.00 per month. The total amount paid to Diversified Collections Services (DCS) in the settlement of the educational loan for National Collegiate Trust ACCT # 4570745838PAO was $23, 500.00 in total payments. (Encl 1 –proof of payments) Provided are copies of my account withdraws as provided by Well FARGO Bank Manager. Also, please be advised that all discusses were recorded by DCS for purpose of these transactions.
In September, I contacted DCS and requested the status of my negotiated plan and they stated that they no longer provided services for this account and were advised to contact the guarantor of the loan (NCO Financial Systems) National Collegiate Trust ACCT # 4570745838PAO Listed phone: (800) 487-2055 /800-487 -2005.
I contacted NCO Financial Systems and they stated that the account was forwarded /sold to MRS BPO, LLC for further collection and provided a contact number (856) 988-0004). I requested from NCO to provide me in writing the unpaid educational loan balance as forwarded from DCS, to date no response have been received.
In the mean time, I immediately contacted MRS BPO, LLC and request to continue my five hundred dollars per month repayment plan in an Automatic Payment plan as previously agreed by DCS until my son can afford take over the loan payments. Payments commenced 5th of November 2012.
Request the below corrective action as they applies to this account:
• Request that NCO Financial Systems, Inc. within 30 of receipt of this letter, forward in writing to Jacqueline Mcelhannon, 936 Country Club BLVD, Chesapeake, VA 23322 and MRS BPO, LLC, Inc the corrected amount owed minus the $23, 500.00 collected by DCS.

None of the monies paid to Diversified Collection Services, now Performant Recovery are reflected to the current amounts owed to NCO Financial Systems, Inc.

• Request that Experian and MRS BPO, LLC delete the amounts being reported on my credit report until the corrective amounts are provided by guarantor of the loan NCO Financial Systems, Inc

AES student loans reported these five accounts to the credit agency as charge offs, upon MRS BPO; LLC establishing the collection service in September 2012 they duplicated the charge off as new collections on my credit report.

• (ENCL 1 Wells Fargo Bank checks as drawn by DCS)
Virginia Fair Debt Collection Statute: Virginia does not have its own Virginia Fair Debt Collection Practices Act, but Virginia consumers harmed by a debt collector’s illegal tactics remain under the protection of Federal Fair Debt Collection Practices Act and other consumer protection laws.
Complaint comments Comments (5) Complaint country United States Complaint category Collections Agencies


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N  29th of Dec, 2012 by    0 Votes
Whoa! You are being played by these thieves! It's time yo stick it to them and set them straight. Their goal is collect and if they can get away with it to keep collecting. They achieve the latter by reselling your loan as if you haven't paid anything on it. The new company assumes the loan in full again. IT's disgusting that this crimes are allowed to be perpetrated on people.

First and foremost if a CA mouth is moving they are lying. Never ever rely on their recordings. They disappear if a situation arises that is not favorable to them. Always use CMRRR to communicate don't use the phone. If you have to never ever talk on the phone to negotiate things without you recording. After you get off the phone send a follow up CMRRR (applies to everything cancelling a service etc.)

You need to send these two fools of companies a request for VOD via CMRRR. Upon receipt dispute it, tabulating the payments made so far. Once the proper balance amount is established use the new loan owner to your advantage - negotiate a settlement (hardball hard-nose), offer a quarter of the balance and go from there. Upon striking a settlement deal next tell them send me an offer of settlement letter. DO NOT PAY ANYTHING BEFORE YOU GET THIS LETTER and tell them that. Tell them you have other debt you are considering moving to the top of the line if they are not interested in payments. Do not budge, your credit is already dinged. You are not refusing to pay, you are just taking control of the situation from them because you have wised up and they have proven not to be trustworthy. Tell them it's their choice if they want the money. Upon receipt of the letter, mail checks or money orders, do not give them electronic access to your bank. They will over collect before they say oops sorry and then it will be a pain to get a refund if you are lucky.

After you have set up everything now go after CRA. Google how to remove inaccuracies from a CR. Send them CMRRR. Once it's clean freeze it's about $10.
N  29th of Dec, 2012 by    0 Votes
You have good intentions but you are dealing with snakes and so you must start treating them as such. I posted a reply but it went to editorial review which I find "stooopid" of this site.
N  29th of Dec, 2012 by    0 Votes
Debt collectors push you around if they sniff you don't know their game or more aptly your legal rights. So before you engage them to make any arrangement Google these and become an informed consumer, it will save you potential trouble in the future.
1-what to do when you are contacted by a collections agency.
2-your rights under federal laws FDCPA and FCRA
3-Validation of debt (VOD), cease and desist (C&D), CMRRR
4-Your state's Statute of Limitations (SOL) on debt.
5-post your questions at debtorboards dot com if things get thick
6-Settlement Offer Letter - very important don't pay anything without it.
-If your state's SOL is expired the debt is noncollectable, period! That's why you
-Never ever accept/agree/acknowledge you owe/own a debt. Per Federal law first demand a VOD. Use CMRRR (you can call but not recommended. Be sure to record the call)
-VOD must be the original document with your signature on it, not a letterhead stating some amounts owed.
-NEVER EVER confirm your your personal info. Tell them to mail whatever to the address on file.
-if you legitimately owe a debt don't pay anything without a settlement offer letter.
-mail checks with tracking No. or signature required, no electronic access to your bank ac. you will be cleaned out. Keep records for life.

-Send a C&D by CMRRR stating when, frequency and how they will contact you.
-If you talk to a CA ALWAYS write down immediately, who called, where from, said what, why, when, what, i.e. everything. This is acceptable evidence in court.
-If CA violate your rights each infraction is worth $1000 to you. Thus, use CMRRR and/or record all calls ->evidence is $$$ for you. No lawyer?, sue pro se, see #5 above
N  29th of Dec, 2012 by    0 Votes

A federal law known as the Fair Debt Collection Practices Act limits what debt collectors can do to harass you about debts. In most states, like Missouri, the state laws do not provide much protection against harassment. However, the federal law applies to all debt collectors, including attorneys.

The law applies only to "debt collectors." This means that the person calling you is collecting the debt that you owe to someone else. If the XYZ Company calls you directly to collect their debt, the Fair Debt Collection Practices Act does not apply to them. However, if the XYZ Company hires a debt collection agency to collect the debts, the law does apply to the debt collection agency.

Debt collector contacts

A debt collector may contact you over the telephone, by mail, in person, or by fax. The debt collector cannot call you at unreasonable times or places. Typically, this means that they should not call you before 8:00 a.m. in the morning or after 9:00 p.m. at night unless you agree to let them call you at those hours. A debt collector may call you at work unless you let them know that their employer disapproves of this. If you do get contacted at work, immediately notify the debt collector if your employer prohibits this.

Stopping debt collection contacts

You can request that the collector stop contacting you. You should do this by writing a letter to the debt collection agency in addition to telling them over the telephone. Be sure to keep a copy of the letter for your own records. When the debt collection agency receives the letter, they should not contact you again except to tell you if they are going to take specific action concerning the debt.
Debt collector contacts with other people

The debt collector may contact other people such as friends, relatives, or neighbors to find out information about where you live and work. Normally they can only contact these people once. In most cases, they are not allowed to tell these people about your debt, but only obtain information about your address and work.

If an attorney represents you on this debt, notify the debt collector of your attorney's name, address and phone number. The debt collector should then contact only the attorney.

What the debt collector must tell you

A debt collector may contact you initially by telephone. If they do, they are required to send you a written notice within five days telling you the amount of the debt you owe, the name of the creditor that you owe the money to, and what action you should take if you do not owe the money.
Disputing the debt

If you do not owe all or part of the money that is being collected, you can request that the debt collector verify the debt. For example, if you signed a loan agreement, you can request that they send you a copy of this document. If you dispute the debt, you should notify the debt collector in writing within 30 days after you are first contacted by the collection agency. You should write them a letter explaining why you do not owe the money and requesting that they verify the debt. During the 30-day period after you are first contacted, the collection agency should not contact you again until they provide you proof of the debt.

Prohibited Harassment

Debt collectors can call you and request that you pay the debt. However, they cannot harass you or abuse you. These are the types of things that they should not do:

Use obscene or profane language.
Make repeated frequent calls to annoy you.
Telephone you without identifying themselves.
Use threats of violence or harm against you.
Threaten to arrest you if you do not pay the debt.
Threaten to take action such as lawsuits, garnishments, or taking your property unless the collector intends to do so and it is legal. (Creditors must usually take you to court and get a court "judgment" against you before they are able to garnish your wages in Missouri.)

Debt collectors cannot make false statements about themselves or the debts. They cannot misrepresent:

they are government officials;
that you have committed a crime;
that they work for the "credit bureau";
that the papers you received are legal summonses
or legal papers, if they are not;
the amount of your debt; or
that there is an attorney involved, if there is not.

Debt collectors are also prohibited from:

depositing a post-dated check before it is due;
threatening to take your property unless it is legal to do so;
contacting you by postcard.

Payments on multiple debts

If you owe more than one debt to the same collector, you can specify the debt you are paying. If you clearly indicate that you are paying one account, the debt collector should apply the payment to the account you request. You should always keep records of your payments and correspondence with any debt collector.
What if the debt collector has violated the law?

The Fair Debt Collection Practices Act gives you a right to sue in state or federal court within one year from the violation. If you win, you can recover damages for your loss, court costs, and attorney's fees. Remember that the one-year period runs from the date the debt collector violated the law. You should act promptly to contact an attorney if you believe a debt collector has violated the law. If you fail to file your suit within one year of the violation, you lose your right to do so.

You can also notify the Federal Trade Commission (FTC) of violations. They cannot file lawsuits on your behalf, but they can investigate your complaints. Their address is: Consumer Response Center, Federal Trade Commission, Washington, D.C. 20580. You can also file a complaint through the Internet.

What should I do to prove my claim?

You should always keep copies of everything that the debt collection agency sends you. Use a file folder or large envelope and keep all of your letters together. Always keep copies of everything that you send to them.

When they call you, be sure to jot down notes of the exact words they used while talking to you on the telephone. Right after you hang up, write a summary of everything they told you, and what you told them. Note the date and time they called you. Be sure to write down their names and telephone numbers and the company they are with.
Get help

If you believe you have been harassed by any debt collector, you should contact an attorney for specific legal advice on your problem. If you are elderly, or have low income, please call Legal Aid of Western Missouri for further information or advice.

Good luck to you!
N  29th of Dec, 2012 by    0 Votes
Oh very important post your questions for guidance at debtorboarads dot com. There's an active and lively community there that's very dependable and even more knowledgeable.

I see my direct response to you is yet to be posted by this site's KGB nanny. So be patient.

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