NCO Financial took over the servicing of two student loans when one of three co-signers filed chapter 13 bankruptcy, Note: the payments were still being made on-time by one of the other co-signers. Needless to say, NCO Financial representatives began calling constantly and the company continued to mail statements with a new fee called "Other Charges."
The total of these "Other Charges" are now over $1200.00 and we are filing a lawsuit against the company for several reasons. 1) NCO Financial added the "Other Charges" to the account and have refused to explain why, in writing, and continue to charge this fee. 2) Even though the previous lender, EDUCAP, Inc, said they could have the "Other Charges" removed if NCO would put in writing what the NCO representative said over the phone, NCO continues to refuse to put their comments in writing. 3) EDUCAP, Inc, the original lender, did not charge this extra fee and it was added by NCO, when NCO took over the account. 4) The payments have always been paid on-time!!! Even though one of the co-signers filed CH 13 bankruptcy!
NCO Financial is the worst company we've EVER had to deal with!!!
We also filed a complaint with the US Government's FTC (Federal Trade Commission), but they could only suggest that we file a lawsuit, so we're doing that today.
Best wishes
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