Who is Financial Corporation of America?
Financial Corporation of America (FCOA) is a debt collection agency based in Austin, Texas. It is involved in the business of recovering debts on behalf of various creditors.
If you are contacted by FCOA or see them listed on your credit report, it typically means you have an unpaid debt that they are attempting to recover.
Who does Financial Corporation of America collect for?
Financial Corporation of America primarily serves healthcare organizations, which indicates that they collect various types of medical debt. This might include unpaid hospital bills, physicians’ charges, or other healthcare-related expenses.
Is Financial Corporation of America legit or a scam?
Financial Corporation of America 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 Corporation of America 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.)
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Financial Corporation of America (FCOA) Contact Information
Financial Corporation of America
12515 Research Blvd Ste 100
Austin, TX 78759
Phone number: (512) 719-7500
Should I contact or pay Financial Corporation of America?
It’s best to avoid speaking to a collection agency on the phone. And making payments on the debt will reset the clock. As a result, it could harm your credit rather than improve it. However, sometimes it’s better just to pay the collection account, especially if it’s new, and you’re certain that it’s legit.
The most effective way to deal with Financial Corporation of America is to work with a credit repair professional. They help remove millions of negative items every year from companies like Financial Corporation of America on behalf of their clients.
Will Financial Corporation of America sue me or garnish my wages?
Debt collection agencies like Financial Corporation of America can, in some cases, sue a debtor for the unpaid debt. If the lawsuit is successful, they may be able to obtain a judgment against the debtor. With this judgment, they could potentially garnish your wages, bank account, or even put a lien on your property depending on the laws in your state.
However, it’s important to note that not every debt results in a lawsuit. Debt collectors prefer to resolve the debt without legal proceedings due to the cost and time involved.
Financial Corporation of America (FCOA) 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 a debt collector is harassing you, you may want to 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 Corporation of America
Debt collectors must abide by state and federal laws in the United States. For example, the Fair Debt Collection Practices Act prohibits a debt collector from using abusive, unfair, or deceptive practices. In addition, the FDCPA 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 Corporation of America 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 Corporation of America may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
- Financial Corporation of America 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.
- Financial Corporation of America cannot threaten to have you arrested or imprisoned over unpaid debts.
Remove Financial Corporation of America From Your Credit Report Today!
Credit Saint can assist you in disputing Financial Corporation of America 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.
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