Monday, January 26, 2015

Horsham-based debt-collection giant busted by U.S. for lying, harassment

Record FTC fine of $3.2 million unlikely to hurt billion-dollar Expert Global (NCO)

Horsham-based debt-collection giant busted by U.S. for lying, harassment

Expert Global Solutions, the $1.2 billion (yearly sales), Texas-based 32,000-employee debt collector formerly known as Horsham-based NCO Group, has been slapped with a $3.2 million fine by the Federal Trade Commission and cited for lying to, harassing and abusing borrowers.

Expert also does business as AL W Sourcing LLC, NCO Financial Systems Inc., and Transworld Systems, Inc., among other names. Read the FTC's case here. Case summary here. Bloomberg News says here that Expert Global, formerly publicly-traded, is now owned by JP Morgan and other private-equity backers. 

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at or 215 854 5194.

Joseph N. DiStefano
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