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Forum LockedDealing With NCO - Re RBC Student Loans

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Johnny View Drop Down
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    Posted: 13/September/2005 at 11:46am

Hi folks,

NCO financial Services (Vancouver Office) is suing people on a regular basis for the Royal Bank student loans. If you are in no position to pay these loans in full, or meet the demand(s) that the colletor(s) is pitching at you, simply subsantiate it. Make your repayment offering. If it is refused, make sure that you record this activity.

If the Royal Bank is convinced by the collector's notes that you are non-compliant and legal action is their only recourse, that could mean trouble. For those of you who are dealing with NCO in Vancouver, pay close attention to the collector you are dealing with - and record any abuse that may occur.

Collectors are out for the almighty commission dollar. They are always going to do whatever they can to capture it.

Just be cautious, know your rights, and make sure that record actions and/or conversations with any abusive or rule-breaking collectors.

Johnny  

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote HonestAbe Quote  Post ReplyReply Direct Link To This Post Posted: 13/September/2005 at 11:57am

Heya Johnny,

I wish I had known some of the details earlier, as I'm now in a position where NCO Vancouver (I think the guy there is Jim Janes, or Jaynes) are suing me in excess of 20K for my student loans with RBC.

I've offered NCO (and CBCL who originally had the account) monthly payments, but was always rebuffed and told that a lump sum payment was my only option! I am certainly in a position where reasonable monthly payments are possible, but they've had none of it.

Other details (including the fact that they should not be contacting me at work) are alo quite enlightening. It got to the point where I was almost unwilling to answer my work number because of the calls!

I've been trolling this site for a little while now, but this thread hit the mark so closely I couldn't help but respond!

Abe

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 14/September/2005 at 5:43am

Yes, I have actually heard stories about this particular collector at that office.

Collectors often refuse to accept payments from people. They would much rather hold out for a full payment, settlement, or a substantial payment that wil easrn them a fair size commission. Wen they take payments, they lose their grip on their ability to push for, entice, or "squeeze" people for larger-sized payment(s).

When a collector refuses to accept your payments they do NOT enter this into their notelines on the account. Insterad, they write "debtor flatly refusing to pay, is combative..., etc.". So, when they submit the request back to their client (your lender), they advise them that you are combative, non-compliant, and are REFUSING TO make any restitution or payment. when the bank reviews the colletor's notes on the account, all the bank sees is that you, the debtor, has been nothing but uncooperative, combative, and refusing to pay!

Document everything when you are talking with a bank or collector. Record the conversations if you are able to somehow. Creditors record calls for quality assurance purposes. There is no reason you cannot do the same for consumer protection reasons.

I would encourage anyone who is being sued by NCO Financial Services -Vancouver office to post their story and allow your voice to be heard.

Johnny

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote lina Quote  Post ReplyReply Direct Link To This Post Posted: 24/April/2009 at 12:47pm
I had the same experience with NCO last year! they refused monthly payment and asked me to pay in full since i had defaulted. I suggested that the ending period of  my studies was wrong so i should have not been sent to collection to begin with. when i suggested that i wanted to pay in line with my canada and bc loans they asked for full payment and tried to intimidate me. I was advised to ask rbc to release all the documents concerning my account according with the privacy and confidentiality act. just got another call that they were investigating. but I asked them to fix things before and while i did not get a reply about the investigation they kept sending the account from one collection agency to another.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fed-Up Quote  Post ReplyReply Direct Link To This Post Posted: 24/February/2010 at 12:28pm
Hmmm... I read this thread with some interest.
 
I have been dealing with NCO in Edmonton for the past 5 years. All but one individual I have dealt with have been rude, harassing and even at times abusive towards me. I have documented evey conversation I have had with them. I have found it irritating when the agent suggests and pleads for me to have a family member or friend co-sign a loan for me to settle the debt. During one conversation I had asked the agent to be my co-signor. Their response, "if you were my friend I would." WHO ARE THEY KIDDING???? I should mention that two separate offers were made within a few months of each other and each time the agent offered me different amounts to settle at. Claiming that it was up to their client what amount they want to settle at.
 
What is this business of them saying they have to contact the "client" about such and such for a decision to be made? I have contacted the client RBC and according to their records as of the date NCO took over the debt I no longer exist to them. Either someone is lying to me or I really don't exist to RBC... not that I care. 
 
Prior to obtaining employment (I was laid off and unemployed for 6 months) I still managed to make the same payments twice a month as I was prior to losing my job. When NCO contacted me to settle the debt (make a new payment arrangement) the agent and I got into a bit of a heated argument. He claimed that while unemployed I was making such and such payments. Now that I am working I can afford to make a higher payment. I had calmly explained (through my tears) that yes I am employed and making the same amount of money as I was at my previous job. I also explained that while unemployed I thought it best to maintain the current payments as I didn't beleive they would decrease them. Between you and I the less I speak to them the better.
 
They try to refuse the payments and payment schedule and at times have suggested garnishment of my wages, have threatened to "take this to the next level," even blatantly threatening legal action. My response, "good luck explaining to the judge why you do not want the money I can give you."
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Post Options Post Options   Thanks (0) Thanks(0)   Quote tdawg Quote  Post ReplyReply Direct Link To This Post Posted: 25/February/2010 at 8:50pm
Maybe send them a fax requesting to only deal with you in writing from now on. Keep proof that it was sent to them and forward that proof to the RBC ombudsman if you run into problems in the future.

Continue with your payments and they can mail you a letter if you do miss one. If you still comply with payments 99% of the time they will just accept them and call other people.

But you need to keep proof they received this in writing because they're sneaky and like to pretend they don't receive such letters that hinder their harassment abilities.

They actually have targets on how many people they call/contact per day and are monitored on how long they're phone is in 'talk' mode every day. 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote 3Degrees Quote  Post ReplyReply Direct Link To This Post Posted: 18/March/2010 at 10:50am
First and foremost, I want to say how grateful I am to have discovered this forum.
 
In May 2009, my husband and I sunk everything we had into a new business. A month later, my student loans went into repayment. As every penny we had went towards getting the business off the ground, I neglected to pay on my loans. Here it is almost a year later and the business is still losing money. As we know the business is our one shot at future financial security, we are extremely careful to pay any and all bills associated with the business in a timely manner. We are also very conscientious when it comes to paying our mortgage, car payment, utilities, credit cards, etc. My student loans are a different story. In an effort to remedy this situation, I recently made repayment arrangements with the National Student Loans Service Centre (which holds my provincial student loan) and Human Resources and Skills Development Canada (to which the RBC outsourced a portion of my Canada Student Loan). Despite the unfortunate nature of my business, the representatives I spoke with in both of these organizations were courteous and professional. The same cannot be said of the representative from NCO Financial Services, the collection agency to which the RBC outsourced the balance of my CSL and my Student Line of Credit. In the past three weeks, I have received several phone calls from a woman named Christine Ferguson with NCO in Edmonton. In the first conversation I had with Ms. Ferguson, she informed me that the combined balance of my CSL and Line of Credit was just over $35,000, but that her client would be willing to settle for $29,000. When I informed her that I didn’t have $29,000, she vehemently insisted I approach my financial institution or that I borrow the money from a friend or relative. When I spoke again with Ms. Ferguson the next day, I told her once again that I was not in the financial position to pay back the loan in its entirety. When I suggested we work out a repayment arrangement, she became very indignant. She said her client wasn’t interested anything less than full payment or a payment of 10% of the balance per month. When I informed her that I couldn’t possibly pay $3500 a month, she became increasingly agitated. I explained to her that I was in the process of negotiating reasonable repayment plans with both the NSLSC and HRSDC and hoped that I could work out a similar such arrangement. Ms. Ferguson insisted that she didn’t care about those loans; she only wanted to know what I was going to do about the loan in question. Given her aggressive, confrontational tone, I was impelled to terminate the phone call. The next phone message I received from Ms. Ferguson was three weeks later. I returned her call the following day, leaving a voicemail message for her on the NCO Financial Services’ switchboard. Ms. Ferguson left another phone message for me the following day, saying that it was imperative that I return her call that same day. As I did not receive the message until close to midnight, I was unable to call her back right away. This afternoon when I spoke with Ms. Ferguson, she informed me that because I failed to return her call yesterday, my case had been forwarded to their legal department.  When I asked her what if any recourse I had at this point, she said that my only option was to pay the debt in full, including any interest that had been incurred and any and all legal fees pursuant to its collection. When I enquired once again as to whether any repayment arrangements could be made, Ms. Ferguson angrily informed me that that was no longer an option. When I replied that she had never given me the option, she accused me of interrupting her and hung up on me. That night, I sent a letter of compliant to the RBC Ombudsman outlining Ms. Ferguson’s unprofessional manner and unyielding position, and asked that the RBC reconsider its decision to outsource my loans to NCO Financial Services. I requested that they permit me to repay my debt to the bank directly. At the very least, I asked that it go on record that I have attempted to make repayment arrangements with the aforementioned collection agency and that any suggestion that I have been uncooperative and/or non-compliant in this matter is completely false. I received both an email and a phone call yesterday from the Office of the Ombudsman directing me to the RBC's Client Care Centre. When I called them today, I was told that a file had been opened and that they would get back to me in the next few days.
 
My question is this, if I were to borrow the money from my in-laws to pay the loan in full how can I guarantee the RBC and/or NCO won't come looking for more? Also, to whom do I make the offer - the RBC or NCO, and how much should I offer? While I cringe at the thought of borrowing from my in-laws, at least I know they won't come after my house (the grandkids, maybe, but not the house). Finally, if I pay this loan off, will HRDSC and NSLSC be apprized of the fact and come after me for what they are owed rather than honour our repayment agreement? I think I need to talk to Johnny.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fed-Up Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2010 at 9:20am
Originally posted by Johnny Johnny wrote:

Yes, I have actually heard stories about this particular collector at that office.

Collectors often refuse to accept payments from people. They would much rather hold out for a full payment, settlement, or a substantial payment that wil easrn them a fair size commission. Wen they take payments, they lose their grip on their ability to push for, entice, or "squeeze" people for larger-sized payment(s).

When a collector refuses to accept your payments they do NOT enter this into their notelines on the account. Insterad, they write "debtor flatly refusing to pay, is combative..., etc.". So, when they submit the request back to their client (your lender), they advise them that you are combative, non-compliant, and are REFUSING TO make any restitution or payment. when the bank reviews the colletor's notes on the account, all the bank sees is that you, the debtor, has been nothing but uncooperative, combative, and refusing to pay!

Document everything when you are talking with a bank or collector. Record the conversations if you are able to somehow. Creditors record calls for quality assurance purposes. There is no reason you cannot do the same for consumer protection reasons.

I would encourage anyone who is being sued by NCO Financial Services -Vancouver office to post their story and allow your voice to be heard.

Johnny

Johnny, I am now dealing with a new agent named Rima. I had called her to set up more pre-authorized payments on the account. While on the phone with her, her supervisor Justin was coaching her on what to say to me.
 
Apparently based on my "financials" (I initially faxed 6 weeks ago and had to refax to them) show that I can pay more than I am paying. The base amount is just over 10 thousand and the interest is just under 14 thousand so the total is just under 16 thousand (The initial debt when I started paying it in 2005 was just under 18 thousand). I argued with them about being a single parent and asked "am I not entitled to any savings?" To which she replied if I don't increase the payments they will send this back to the lender, who has free reign to do as they please with the debt. (Do you sense a hint of threat there?)
 
I asked what lender? I don't exist to RBC and she stated "it's their money."  Going in circles with her I kept stating I can't afford to pay more and she insisted I do as per Justin in the background. So I started asking if she is refusing what I can pay. She wanted to put me on hold for the tenth time when I cut in and asked to speak directly to her supervisor since she was iterating info to me through him. She was upset by this point (she's new and getting nowhere with me) and welcomed putting Justin on the line.
 
According to Justin, it is thier "corporate policy" that every 90 days the payments go up. This is something new as I have never heard of this. So I am now making two $110.00 payments per month to NCO and it's not good enough.
 
I have had it, dealing with them, putting up with the abuse, the threats... when I speak to them I am at that time in a constant state of fight or flight and afterwards it takes me a while to come down from it all. I then have an upset stomach and headache from it all.
 
HRSDC doesn't treat me like these people do. If I were to seek your services how could you help me?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 3Degrees Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2010 at 5:19pm
I hear you, Fed-Up. I got a message yesterday from a man stating he was calling from the Federal Government and that I needed to call them right back. I felt instantly sick to my stomach. When I called back today, I was told that they were only calling to confirm that they had received my paperwork and that everything was fine with my repayment arrangement. I was even told to have a nice day. The people (and I use that word lightly) at NCO are predators of the worst kind.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sarabear Quote  Post ReplyReply Direct Link To This Post Posted: 05/July/2011 at 7:29pm
How long can they "chase" you for an outstanding loan? I thought it was 7 years? Will an outstanding loan always show up when or if you apply again for another student loan?
 
I had a loan from 10 years ago that I didnt pay. It was for just over $2000 but at that time I had gone bankrupt and could not pay it. About 5 years later I got another loan which I had defaulted but eventually paid it back....they just didnt accept my terms of how much I could pay. So I paid through the crown and have a letter of release. My first loan never did get paid back and I have recently had new calls from a collection agency for this loan of 10 years old. Can they do that?
 
Thanks.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 06/July/2011 at 7:31am
It all depends now. Banks and their collectors will always chase you. It all about money right now and that motivates these industries. If you can pay you should do so though.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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