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NCO Suing aggressively

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Topic: NCO Suing aggressively

Posted By: administrator
Subject: NCO Suing aggressively
Date Posted: 13/September/2005 at 3:04pm

Thanks to John for this info - Mark

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
__________________
The Canadian Financial Wellness Group (CFWG)
johnny@cfwgroup.ca

Replies:

Posted By: samantha
Date Posted: 13/July/2007 at 12:21pm

Hi:

We received a call from NCO today. I was informed that they were preparing the paperwork to submit it to CIBC so they can sue my husband.

What brought all this "suing" talk on, was that on the first conversation that we had with them, we told them that we wanted a written break down of all of the amounts given to my husband under the federal loan.

On the first phone call the woman said to me. "You need to talk less and listen more, we do not have to prove anything to you, you know how much you owe. The only way that you're going to get that (break down) from us is if we sue you". The she started screaming like a little girl and when I kept repeating the same thing, "we want a written break down of all the amounts", she hang up on me (that's OK, I didn't want to talk to her anyway!!!).

The second guy that just called me said the same thing, that basically the only way I'm getting the break down is if they sue me. He is the one that told me that they were preparing the paperwork to send it to CIBC so they can start suing. (I wonder if he screams like a little girl too).

Posted By: SolveStudentDebt
Date Posted: 13/July/2007 at 12:50pm

This is really bad behavior by a collector. All they have to do is send you a breakdown of what you owe. It takes minutes (if that). What you have described is common. I would pay close attention to this because people have been describing the same pattern or behavior regarding other collection agencies, and you should do things to prevent this threat from materializing.

If you need help, let me know.

Johnny

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

http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com

Posted By: OrlosGirl
Date Posted: 30/August/2008 at 10:44am

Which NCO is dealing with your CIBC loan? Mine is being dealt with in Edmonton. They broke the law, lied to me and were very abusive. They've convinced CIBC National Collections that the only route is to sue me. I've only had one conversation with them and it was horrible.

I'm not going to step back and let them bully me into doing what they want. They messed with the wrong person this time because I used to work in Canadian collections and I know the laws.

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Trying to do everything He tells me. (John 2:5)

Posted By: SolveStudentDebt
Date Posted: 30/August/2008 at 1:20pm

Maybe you should request their written request fro permission to sue. They have to give a reason to the bank as to why they are requesting it, and why the bank should allow it. This would be really interesting to see.