2007 Inquiry suit
Wednesday, April 15, 2009
NCO offer of judgment done deal - freecycle.org
I just posted at NCO offer of judgment accepted
I don’t know when I get to scan all those docs, NCO provided some interesting documents about the discharged Providian account they were trying to collect.
I went to town today. The Office Depot in Kingman finally closed. Another store where I used to buy cheap t-shirts and sunglasses disappeared without warning.
My Chevy doesn’t start, I can’t even charge the battery and I took the Bronco. The window on the passenger side fell inside the door last fall and I didn’t drive it because one of the tires was leaking air. But, today I had no choice and after all that nice spring weather, it was ice cold and I was driving through a snow storm.
Fortunately, the tire was fixable. A new tire is $150 and special order.
$145 at the vet for a few shots. At Safeway I talked to Mary in the bakery, she has a dog and she told me about a low cost clinic in Kingman. I had no idea. That’s where I’ll go next time. She just buys the shots at the feed store, but I don’t want to give my dog the shot.
Someone recently turned me on to http://www.freecycle.org/ and I joined the Kingman group.
That is SO cool! I’ve only subscribed for a few weeks, but can tell that there are some regulars who have lots to give away as well as ask for.
If I wasn’t 60 miles away ... plants, furniture, pets and just all kinds of stuff is just given away.
People aren’t allowed to charge and I wish there was another site to buy and sell. I’d gladly pay a few bucks to have someone hold the stuff until I get to town again.
I’m really sick of Ebay and I also have a lot of heavy stuff to get rid off. I could take it to town, but it’s a hassle if people don’t show up. If they paid a few bucks, they WOULD show up.
Well, that’s what you get for living in the boonies. But it sure is cool to see this system of giving stuff away working so well in Kingman.
2007 Inquiry suit • NCO - illegally selling credit reports • (0) Comments • Permalink
Thursday, April 02, 2009
2008 NCO revenue up 18% and profits of $95.5 million
It’s no wonder they’re making money, blatently ignoring the FDCPA and FCRA.
NCO Group Reports 2008 Results
April 1, 2009
The ARM giant reported a hefty loss in 2008, but achieved its EBITDA goals as much of the loss was attributable to a one-time non-cash impairment charge.
by Patrick LunsfordinsideARM
April 1, 2009Accounts receivable management and customer relations giant NCO Group Wednesday reported results for the full year and fourth quarter 2008 marked by a large loss on non-cash impairments and a sharp rise in revenue.
Horsham, Pa.-based NCO Group, Inc. reported a net loss for the full year 2008 of $337.1 million. In 2007, the company lost $31.7 million.
In the fourth quarter of 2008, the company reported a net loss of $286.6 million.
The losses were due to non-cash impairment charges related to a transaction in 2006 that took the company private, and to the company’s purchased debt portfolios.
NCO recorded a $289.5 million non-cash impairment of goodwill and other intangible assets in connection with the going-private transaction in November 2006. The charge had a direct impact on net operating figures for the year. The company also took a $98.9 million impairment charge on its purchased debt portfolios for the year.
NCO said that the impairment of goodwill and other intangible assets is a non-cash charge that does not affect the company’s cash flows from operations, liquidity, or compliance with the financial covenants in its senior credit facility.
Mike Barrist, NCO’s Chairman and CEO, said that the company had achieved its goals for the year exclusive of the impact of non-cash portfolio impairments and restructuring charges.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) for the full year was $95.5 million.
“As we continue to navigate through 2009, we believe NCO is well positioned among its peers within each of its core markets to capitalize on all available opportunities,” said Barrist.
NCO also noted that it eliminated executive bonuses and reduced certain non-executive bonuses in 2008 to cut costs. It also experienced a “meaningful reduction in overall discretionary spending.”
But revenues soared in 2008. NCO said that it crossed the billion-and-a-half-dollar mark in 2008 by bringing in $1.51 billion in total revenues, up nearly 18 percent from total revenues reported in 2007.
The company attributed much of the increase in revenue to the acquisition of Outsourcing Solutions, Inc. (OSI), which at the time was the second largest collection agency in the U.S. The OSI deal closed in March 2008 (“NCO Group Completes Acquisition of OSI,” March 3, 2008). NCO said that OSI contributed $337.3 million in revenues in 2008.
Of the $1.51 billion in total revenue in 2008, $1.22 billion was generated by NCO’s ARM unit, up from $915.6 million in 2007. The company noted in an SEC filing that 60 percent of the ARM unit’s revenues were generated “from the recovery of delinquent accounts receivable on a contingency fee basis.”
NCO also said in its SEC filing that it spent $126.5 million on debt portfolio purchases in 2008, roughly the same amount it spent in 2007.
There’s something to look forward to, more collection calls from NCO.
2007 Inquiry suit • NCO - illegally selling credit reports • (0) Comments • Permalink
Sunday, March 29, 2009
My supplemental disclosures to NCO and the CRAs and my funeral
I’m going to supplement my disclosures with some posts here that should make NCO attorney Justin Homes very happy. Well, maybe NOT happy, but he’s getting what he asked for.
As a skilled attorney, he should have done his homework. Last night I found posted right here exactly what he demanded at the depo.
Justin Homes deserves the attorney Darwin award.
I’ll post the supplemental disclosures when I’m done at http://credit-bureau-nco-litigation.info/—probably tomorrow.
I also ran across a posting about a dream I had and now that I read the post about it, I remember it again. It was one heck of a weird dream and if there ever was a predictive dream, that was it.
On 11/28/04 I wrote:
I have to attend my own funeral before I go camping again?
…
It would suck if I had to die before I can go camping again, I probably don’t even want to go camping then. Kindof expect to have other interests after I died.
Maybe it means that even dying won’t get me what I want. There’s always going to be *something* holding me up. Hmmm, that’s not very positive. Actually, it’s downright depressing.
Maybe it just means that I really need a couple years off.
I now remember driving around my old neighborhood in this dream like it was just last night. Even that the streets were different, roads that don’t exist.
That was over 4 years ago and I have yet to go camping.
Went on a one-week vacation with my nephew in 2007, but that was it. Stress, stress and more stress.
It’s a near miracle I’m still alive.
I’ve been trying so hard to “get away” from the madness, but the best I can do is work on my house or garden for a few hours and then I’m right back in the stress.
Saturday, March 28, 2009
My deposition by the credit bureaus and NCO: NO VIDEO!
NO VIDEO!
Apparently, the attorneys don’t know the meaning of the word “no.”
I walked into the room and there was Justin, the videographer with his equipment pointed at my seat. Obviously, I did NOT sit down. I stated that I would leave again and they finally sent Justin home.
I’ll be posting the entire deposition and it’s been very enlightening. This wasn’t my first deposition, but they employed some new tactics such as wanting to subpoena my family, friends and neighbors.
Fat chance, you assholes!
It is their goal to DESTROY and I mean ABSOLUTELY DESTROY the consumer plaintiffs.
When they’re done with you, chances are you will be divorced, your friends and members of your family won’t talk to you anymore and you’ll have to move or live with the fact that you’ll be shunned in your neighborhood. Your ENTIRE life will be destroyed.
Or, there is of course the alternative that you DISMISS your claims to avoid the humiliation and losing what little you have left after the credit bureaus and collectors destroyed your credit and bankrupted you: your friends and family.
It shows how STUPID the attorneys are that they would even try. Well, I suppose it has to do with the fact that I dismissed all my claims against Experian in exchange for the removal of my credit reports.
Back then in 2006, I had PERFECT credit (no derogs) and I was afraid of ID theft and afraid for my life.
Now, I have the PERFECT credit (umpteen collections) to tell them to take a flying leap and I have a loaded gun.
I will be posting the ENTIRE deposition and a detailed analysis of the many issues “discussed.” I told them what I thought of them, on the record, under oath.
I’m really glad they deposed me.
I think this deposition will be very helpful to get changes in the law and to encourage many (near) judgment proof people to STOP paying their unsecured debts.
Me to NCO attorney Justin Holmes:
Maybe you are just being a little stupid, but I said about three times that I’m unable to answer your question because I do not know.
He was last to question me and he was your typical abusive collector asshole. The other attorneys were generally polite and non confrontational. I regret that I answered any questions for NCO attorney Justin Homes and he just moved to the top of my &*^$ list.
If I were NCO, I’d fire his firm SESSIONS, FISHMAN, NATHAN & ISRAEL LLP on Monday.
The entire deposition and a detailed analysis will be at http://credit-bureau-nco-litigation.info/ hopefully next week. I’ll still have to make my corrections of the transcript. And it’s time to get back outside to plant some grapes and corn.
I just posted some pics of my almost finished adobe addition at http://solar-wind-power.org/building-materials/adobe-bricks/2009/03/almost-finished-plants-are-growing/
And here’s a pic taken on my way to Las Vegas for the depo. They’re slowly progressing with the Hoover Dam bridge:
Thursday, March 26, 2009
NCO LIED about running my credit for 4 years, NOW discloses collection of DISCHARGED account
This is just totally UNBELIEVABLE.
I filed for bankruptcy in 1996. NOBODY EVER tried to collect the discharged Providian account.
In 2005, NCO ran my Trans Union credit report, HARD inquiry.
I could NOT find out what they were collecting and assumed it had to do with my complaint about Dana Capital’s illegal use of credit reports.
NCO DENIED obtaining my credit report during the YEARS of litigation.
Tomorrow is my deposition.
At 6:29 PM TODAY I received the NCO supplemental disclosures, now ADMITTING that they got my credit report in 2005 and providing the information for my 1995 charged off and then discharged Providian account.
I’ll be posting the discovery docs, could use some help with the NCO account info.
Client: NCOCU7-3
NCO/ASSIGNEE OF PROVIDIAN
Regarding: Chase Providian
Coll. Unit: PUD Purchase Unit Dump
Com Rate: 45%
I do remember that I somehow know that Chase got the discharged Providian account, but I can’t remember what happened. It could be that Chase reported the account as delinquent and it may have been part of a previous suit.
I just searched for Providian here, I settled the incorrect credit reporting with Providian in 2004. It was part of my FIRST lawsuit. I suppose then Chase bought Providian. But I’m blank on what the deal with Chase was. They may have sent me a letter to let me know that they now had the account. And, of course they knew that it was discharged.
So the question is why this account was assigned for collection. Did Chase SELL it to NCO and NOT tell it that the account was discharged?
Isn’t it interesting that NCO ran my credit for an account that was charged off TEN years earlier?
WTF are they doing?
I sure have a lot of questions. Looks like it’s time for ANOTHER lawsuit against Chase, “NCOCU7-3” and NCO.
So, now NCO had a permissible purpose for the inquiry and I have FDCPA claims.
These BASTARDS continually LIED to me for FOUR years!
The stress, wondering why they ran my credit when I had NO delinquent accounts whatsoever while I was getting ready to buy property and get a mortgage. They DENIED obtaining my TU report in response to my discovery requests until today.
They just don’t give a crap about the truth.
So now there’s an entire NEW set of issues to take to the FTC.
The FCRA must be changed to PROHIBIT the disclosure of collection inquiries to 3rd parties (hard inquiries.)
NCO must be shut down and the execs must be prohibited from engaging in collection activities.
NO collector can be allowed to operate while either DELIBERATELY lying to consumers or being so incredibly incompetent, they really didn’t know why they ran my credit.
I have no idea WHICH it is, but obviously you can’t allow NCO to collect consumer debts and obtain credit reports.
They also admitted that they never investigated my complaint about Dana Capital, a major mortgage banker, notorious for sending junk faxes and illegal telemarketing and worst of all, LYING to the borrowers about the loan terms, causing so many foreclosures. Owner Dana Smith and the company filed for bankruptcy so I dismissed them from this suit. Criminals by any standard.
I can’t wait to start the FTC complaint blog.
My sincerest apologies to my client with the DELIBERATELY incorrectly reported Devry student loan account I previously posted about here. It’ll be the first published FTC complaint, but due to the lying lawyers, I just had to deal with their BS all week.
See http://credit-bureau-nco-litigation.info/
2007 Inquiry suit • NCO - illegally selling credit reports • (0) Comments • Permalink
