Financial Asset Management Systems

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Is Financial Asset Management Systems hurting your credit score?

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Who is Financial Asset Management Systems?

Financial Asset Management Systems, Inc., also known as FAMS, is a debt collection agency based in Woodstock, Georgia. They specialize in the recovery of past-due debts for various clients.

If you see FAMS listed on your credit report as a collections account, it usually means you have an unpaid debt that the original creditor has transferred to this agency for collection.

Who does Financial Asset Management Systems collect for?

Financial Asset Management Systems offers its services to a wide range of industries. They collect for education, which often involves unpaid student loans. They also work with financial services, dealing with unpaid credit card debt or loans.

For government entities, FAMS may recover outstanding taxes or fines. In healthcare, they handle unpaid medical bills. Lastly, they aid telecommunications and media companies in recovering due bills for services like cable, internet, and phone.

Is Financial Asset Management Systems legit or a scam?

Financial Asset Management Systems is a legitimate company. They are authorized to collect debts on behalf of their clients. However, it’s important to verify any debts they claim you owe before making any payments.

How can I remove Financial Asset Management Systems from my credit report?

Collections can hurt your credit score and remain on your credit report for up to seven years regardless of whether you pay it or not. Unfortunately, paying the collection could even lower your credit score.

However, it is possible to remove a collection account from your credit history before seven years.

(While debt collectors may not want this information to be widely known, it’s your right to be informed.)

Ready to Raise Your Credit Score?

Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.

Professional credit repair services work with people who want to get their credit back on track.

In addition to collections, they can help you to challenge other inaccurate, unfair, or unsubstantiated information on your credit report. These items include inquiries, late payments, charge-offs, foreclosures, repossessions, bankruptcies, and more.

Get started on the path to better credit today: Fill out the form for a free credit consultation.

Financial Asset Management Systems, Inc. Contact Information

Address:

Financial Asset Management Systems, Inc.
665 Molly Lane Suite 110
Woodstock, GA 30189

Phone number: (866) 637-6196 or (404) 293-7639

Should I contact or pay Financial Asset Management Systems?

Before contacting a collection agency, verify that the debt is legitimate and accurately reported. Sometimes, credit reports contain errors or list debts that are no longer valid. Also, be aware that making payments on a debt can reset the clock. As a result, it could harm your credit rather than improve it.

The most effective way to deal with FAMS is to work with a credit repair professional. They help remove millions of negative items every year from companies like FAMS on behalf of their clients.

Will FAMS sue me or garnish my wages?

Financial Asset Management Systems, Inc. (FAMS) can potentially sue you for an outstanding debt. If they win the lawsuit, and depending on your state laws, they may be able to garnish your wages or levy your bank account to satisfy the debt.

However, lawsuits are usually considered a last resort due to the cost and time they require. The decision to sue often depends on factors like the size of the debt, the likelihood of collecting the debt, and the agency’s policies.

Financial Asset Management Systems, Inc. Complaints

Most collection agencies have numerous complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most consumer complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you find yourself facing any of these situations with Financial Asset Management Systems, you should also consider filing a complaint.

You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). These rights include the ability to dispute credit reporting errors and to be treated fairly and respectfully by debt collectors.

Your Rights When Dealing with Financial Asset Management Systems, Inc.

Debt collectors must abide by state and federal laws in the United States. For example, the FDCPA prohibits a debt collector from using abusive, unfair, or deceptive practices. In addition, it provides you with many rights to ensure that collection agencies don’t take advantage of you. In particular:

  • It is a violation of federal law for Financial Asset Management Systems to report inaccurate or incomplete information about you.
  • You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. By law, they have 30 days to prove to you that the debt is really yours and the total amount is accurate.
  • Financial Asset Management Systems may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
  • FAMS must be honest about who they are and what they are attempting to do. They must notify you that they are a debt collection agency both orally and in writing.
  • FAMS cannot threaten to have you arrested or imprisoned over unpaid debts.

Remove FAMS Collections From Your Credit Report Today!

Credit Saint can assist you in disputing FAMS collection accounts. With years of experience at their disposal, these professionals have a proven track record of effectively removing incorrect entries for countless clients.

If you’re tired of dealing with debt collectors and want to improve your credit, consider working with a trusted credit repair company.

They have helped many people in your situation. Fill out the form on their website or give them a call at (855) 281-1510 for a free credit consultation to see what they can do for you.

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