Stacy Said:

Help with collections on credit report NCO Financial.?

We Answered:

The letter that derrick posted is both a validation letter AND a FULL cease and desist - which will NOT work.
You either ask for validation or you send a full C&D, you cannot do both at once.
By including a full C&D in your validation request, if they send a response to your validation letter they would be violating the C&D.
After recieving a full C&D, they can only send you one letter - and that letter can only contain the information on what they plan on doing with the account. Which would be - suing, selling the account to another collection agency or turning back to the original creditor.

You can include a limited C&D instead - which basically says:

I am requesting, in writing, that no telephone contact be made by you to my home or place of business as it is inconvenient to me. All future correspondence by you must be done by USPS.

And as far as the licensing that is mentioned in that letter, be sure your state requires a collection agency to be licensed and/or bonded before including it.

AND as far as the mentioning of filing suit in that letter - NEVER make threats of filing if you have no intention of actually doing so - that may be considered a violation on "your" part.

I would say that if you plan on using that letter, cut it off after the request that they prove the statute of limitations has not expired. Then include the limited C&D that I posted above.

Send it certified mail return receipt
Do not sign the letter, print your initials or just type your name.

Now, onto what NCO states
The account number that NCO lists is, more than likely, their own internal account number and not the account number from the original creditor - not a violation.

The dates they are listing for date opened is, more than likely, the date they either purchased the account or the date the account was assigned to them - not a violation

Since they show a $0 amt due - the date closed is not a violation.

It looks like they had either purchased it or it was assigned to them, but then you had paid the orginal creditor and the original creditor failed to follow up and make sure that NCO deleted or never placed anything on your reports.

After you get the green card back from sending the debt validation letter to NCO, send a dispute to the CRA's.
If NCO verifies the account and it remains, send a letter to the utility company.
Also, file complaints about NCO with the BBB, FTC, your Attorney General and NCO's Atty. General.

If it comes down to it, you do have an option to sue if they verify with the CRA's and do not remove the trade line.

Barry Said:

what does a credit counseling company writes or reports on someone's credit report when they consolidate debt?

We Answered:

If you're working with a consumer credit counseling service, it will usually state under the accounts that are being paid for through them, "account being managed by a credit counseling service".

Though it may stop someone from getting new credit, or extending old credit, it keeps payments up to date, which actually improves your credit score. The important thing to note is that the fact that you were with the service will fall off your credit file when you finish the program, and no one can tell you were in counseling unless you tell them.

Florence Said:

How does the global financial crisis affect you?

We Answered:

It affects every single human being in the world as it causes most of the needs to rise, petrol and food prices are increasing, you will also have a hard time finding a job, but it benefits to rich people as:
1) Houses prices are dropping because they are low on demand thus causing the real estate agent to lower to the price in order to attract buyers to earn income, when houses price dropped the rich will buy many of them so when their prices increases, they are able to sell them and earn profit.
2) There are more people looking for jobs then ever before, so you will not have a hard time finding them.
The best possible solution is to inject money into the economy and lower the tax rate, that way many goods prices will drop because the sellers have enough money to supply their needs, which allow them to lower the prices to attract more people. When goods prices drop, more people will buy them, this will provide jobs as employers will need more employees as their customers increase, and this will revive the economy up and going again.

There are many causes of the global financial crisis, it is because of the US economic breakdown that lead to the downfall of others due to US being a superpower. One of the reason is because of the war in the middle east, Former President George Bush spend too much money on the war, which causes US to lose a'lot of money (When US army spend money on weapons, it may create jobs but once the bombs etc were used, they were gone forever, which means they are useless and a waste of money). Another reason is because too many people are borrowing money from the bank and do not have enough money to pay back their debts, this causes the bank to be bankrupt as they do not have their income from people who are in debt.

Well in my point of view I guess history was never learned, we are now experiencing a global financial crisis similiar to our grandparents in the 1930s known as "The Great Depression", it is one of the reason for World War II. However things are starting to get a bit brighter with the newly President Obama promising hopes to the Americans, if he fails, there is a chance there-will-be-a-world-war-III. But to be honest I am not surprised, mankind rarely correct the mistakes their ancestors made many many years ago. It will be fixed, no matter what, the question is: When will it be fixed.

The most affected country are of course USA, with the biggest loss of employment rate for a rich country, and the country that was affected the least? There was a country in Middle East where they knew what is going to happen and restrict the banks from borrowing any money, so they are not affected, an African country named Gambia was not affected too, although I'm not sure if Gambia even have an economy.

Frederick Said:

Write a brief report on the factors that led to the global financial crisis in 2007-2009? a).Explain also wha?

We Answered:

Successful use of Engineering and math in Finances led to a demand in derivatives to provide hedged investments allowing for profit with very little to no risk. You can buy a stock and short a derivative or vice versa depending on the price relationships between the two and guarantee profit over a wide range of price movement both up and down. Since the probabilities cancel out mathematically, not too much concern was given to how sound the derivatives or the underlying securities were, they simply had to exist and there had to be a market for them for arbitrage to occur. The high demand prompted the creation of ever more complex and risky derivatives.

From a regulatory standpoint, a republican bill voted in along partisan lines and signed into law by Clinton pretty much defined anything named a swap as being unregulated by law hence there was no requirement for the derivatives to be reasonable products in themselves so long as they were called swaps, most notably the Credit Default Swaps. This was the Commodity Futures Modernization Act of 2000. Many blame Clinton's escapades with a certain intern as having diluted his influence to the point where he could not afford to veto that bill.

Timothy Said:

DRAFT REPORT WRITING?

We Answered:

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