Is NCO Financial part of the Federal Government? Are they part of the student loan recovery department?
They act creepy Answer: Hi Sofiya – NCO is not part of the government. They are … They are an independent debt collection agency. They pursue all sorts of debts, credit cards, bank accounts, loans, cellphone bills, etc. on behalf of the original creditor. NCO also purchases old “bad” debt and attempts to collect on it as well. They have been known to collect on old student loan debt both as a collector and after purchasing the debt themselves. For a list of the other names that NCO goes by as well as hundreds of comments and phone numbers for them you should take a look at http://www.callferret.com/nco-financial-systems.html If you’ve been contacted by NCO, there are several things you can do. The first is to send them a “debt validation” letter. This letter is a formal request that they show their documentation and proof that the debt is actually yours. Often, NCO lacks this documentation and will stop pursuing you. Old debt often doesn’t come with the original paperwork, contracts
