About Credit Card Debt Collection Processes And Functions

What is the credit card debt collection process?

When a lender's efforts to recover a debt from a consumer who is always late paying their monthly credit card payments fails, they may seek the help of a company who specializes in the credit card debt collection process. The debt collection agency will continue to contact the consumer on behalf of the lender to resolve the debt with the consumer. 

What is a credit card debt collection agency?

Lenders that no longer wish to handle their own credit card debt collection efforts may choose to outsource the credit card debt collection effort to a third party. A debt collection agency is a third party debt collector who attempts to resolve a debt with a consumer. Consumers may miss making payments to their lender for any number of reasons, such as a layoff from a job or unexpected medical bills. NCO Financial Systems, Inc. is a business process outsourcing company offering services such as third party debt collection services. 

Are there federal guidelines third party credit card debt collection companies must follow?

Before Congress passed the Fair Debt Collection Practices Act, or FDCPA,  there were some credit card debt collection companies that used methods to collect a debt that the act now prohibits.  Credit card debt collection companies are, among other things, prohibited from using obscene or profane language, or advertising the sale of a debt to coerce payment.

At NCO Financial Systems, Inc., we are committed to following the guidelines outlined in the FDCPA. We want consumers to have access information that is up to date so they can resolve their debt issues. Communication is very important; and we strive to make sure consumers can contact our friendly, knowledgeable representatives to request the information they need to resolve a debt.

If you would like more information about credit card debt collection companies, call or e-mail an NCO Financial Systems, Inc. representative. There are several ways to contact a representative. Contact information can be found on every page here on our consumer help unit website.

We are required under state and federal law to notify consumers of the following rights. This list does not contain a complete list of the rights consumers have under state and Federal law. Please click this link for important information about your rights. State and Federal Disclosure Link.