NCO Financial Systems
Ripoff, dishonest and mis-leading billing practices

I am upset with NCO. I hired NCO to perform collections for Microtips Technology and the rate of 33.3%. Terry Mosier explained to me that Microtips is obligated to pay 33.3% on all moneys collected including the collection fees assessed. This would mean that the collections fees would be never ending. Microtips wanted to transfer the expense of collections over to the customer. Because every dollar of the collection fee paid would mean we would owe. 33 and then if the customer pays. 33 then we would owe. 03 and so on.

Example:
I turned over an account principal balance of $16,500. To be collected. Collection fees on $16,500 equal $5,499.45

So if the customer pays the total of $21,999.45 then NCO is due $7,332.42, which is actually 44.438% collection fees over the original principal balance.

Later I received an e-mail from Terry Mosier with the following response:
Look at it this way...$16,500 (Principle) $5,494.50 (Collection Fees) = $21,994.50 (Total amount to be collected)

NCO receives 1/3 on every dollar collected. If the total amount is collected NCO would receive $7,324.17.
You would receive 66.7 % ($14,670.33).

If placed without collection fees. Principle is $16,500
NCO receives 1/3 of amount collected ($5,494.50) and you would receive $11,005.50

I hope these two scenarios help in the understanding process. NCO always receives 33.3% of the amount collected and you receive 66.7%. Thank you, Terry

Company: NCO Financial Systems
Country: USA
State: Colorado
City: Greenwood Village
Address: 5600 South Quebec St., Suite 300-B
Phone: 3032908122

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