CFPB Debt Collection Complaint Ranking*:
#5 of 2,458 Companies
Lawsuits, Penalties, or Sanctions:
In 2004, Expert Global Solutions, Inc.'s predecessor/subsidiary company NCO Group was forced by the Federal Trade Commission to pay the then-highest ever civil penalty to date for repeated and sysematic violations of the Fair Credit Reporting Act. NCO Group was found to be altering the date of delinquency on consumer accounts so that it would appear that they could continue to report them negatively on consumer credit reports long after they were legally entitled do so.
In 2013, the Federal Trade Commission again acheived the largest-ever civil penalty to date against a third party debt collector - $3.2 Million - for illegally abusing, harassing, and opressing consumers - this time it was against Expert Global Solutions, Inc. itself.
Location and Contact Details:
Expert Global Solutions, Inc.
Tony L'Abbate, Chief Compliance Officer
Known as the "World's Largest Debt Collection Operation," Expert Global Solutions, Inc. is a third party debt collection and business processing outsourcing company that was created in 2012 when the collection agency NCO Group was merged with business process outsourcing company APAC Customer Services and taken from a public to a private company by One Equity Partners, a private equity investment arm of J.P. Morgan Chase and other co-investors.
Significant legal and regulatory troubles stemming from Expert Global Solutions' repeated violations of Consumer Protection laws (see below) may have contributed to the decision in 2014 to sell portions of its debt collection operations (known as "accounts receivable management" in the industry) to a private equity group which will operate them under the name Transworld Systems, Inc.
Expert Global Solutions, Inc. operates through its subsidiaries, NCO Financial Systems and ALW Sourcing, LLC. It has approximately 32,000 employees and in 2011, had revenues in excess of $1.2 Billion.
* Ranking determined by the overall number of debt collection complaints to the Consumer Financial Protection Bureau (CFPB) as of year-end 2015 and should be considered in context of company size and/or market share. See the CFPB debt collection complaint database in real-time here.
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