I don't think this is a collection agency, it's a scam of some sort. They've called this business daily, asking for an employee who no longer works for the company. Indian accent, always claims "Andrew" told him to call. When I asked to speak to Andrew, his line is busy. I finally told the Indian guy I was calling the local police to file a harassment report. He suddenly was able to take our name and number off the calling list.
Don't fall 4 it
If FAMS were legit they 1. Would leave a legitimate call back number and 2. They would send
A WRITTEN invoice of the original debt and a detailed accounting of all added charges and fees. 3. They would NEVER EVER speak to anyone about the details of a debt without FIRST VERIFYING that the debtor is indeed on the line. 4. Try to check your credit report for viewable information which could have been data collected by non legit rip off so called collection agency's.
5. If you feel anything is not on the up and up, trust your gut.
Pay attention to the age of the debt. Most statute of limitations are easy to check online.
Always ask for a call back number and sufficient identifying information. Tell them before you agree to discuss, let alone giving garnishment approval and financial information ,that you need to make sure they are whom they say.
The picture should be of you and your law braking delinquent friends for braking the law by harasing working people at their work place. Have some respect for people trying to make an honest living.
Just thought you ought to know that anytime fraud is involved with a student loan, against your own name, you do not have to pay for it. Often THAT student loan will be forgiven by the U.S. Dept. of Ed. You need to go back and talk to them about that instead of paying for it yourself. Yes, your daughter may ultimately still be responsible, but that is impacting your credit. You shouldn't pay that bill. Go get that debt forgiven for your sake. She's a big girl and can deal with the consequences of opening fraudulent credit accounts. I"m not saying to lock up your daughter. But that is one bill you don't have to pay. You can double check these kinds of issues on ecmc website. Just google ecmc and check on student loan repayment options.
please dont listen to Bob, he clearly doesnt know what he is talking about. SSI CAN be garnished WITHOUT a court order because as I mentioned befroe, this is a FEDERAL DEBT. There is no way around it, it never goes away. EVER. Now as I mentioned beforem if you're disabled take that application to your MD and you can get rid of the debt that way. They may come back every 3-5 years and check to see if you're still disabled but hey your getting rid of a loan for free so its worth it!!
"THEY" are not garnishing your ssdi. The Dept of Ed and the Dept of Treasury is. This is a federal loan you owe and you now get federal income so they have the right to take their own money back. Wehn you signed your promissory note, you argreed to pay back all interest, fees and collection cost so yes, your payments would obviosly go to that 1st. With all that being said, if yo uare 100% disabled, you CAN get your loan discharged which means the garnishments would stop immediately after ur MD completed a specific form. Google 1845 revised disabilty form and download the pdf application and take this to your MD for completion asap.
disability can not be granish even with a court order. you can call the federal trade commission and file a complaint and it can be stoped within 2 weeks. student loans have a racisist undertone. the US is still the biggist promoter of racisism. Third question on the form is what is your race. who else can do that
I live on SSDI also and they are garnishing my disability checks. They don't care what your income is or where it comes from. They just want your money.
One thing you need to be aware, when your income is garnished the money goes towards the taxes & fees NOT towards the principle loan amount.
They have called me twice at my work twice this year. Once by my maiden name and again now by my married name. They ask for my birthdate, of which I would not give and to verify if I am still getting mail at a certain address, of which I have never lived at. Then they hang up. Neither time they had the right person. I have no outstanding bills and never had any student loans, etc... It is ridiculous that they call my work and it is not even for me. They call back and talk to HR wanting information and when the HR administrator tells them they need to sign a faxed release giving permission to release my information they never end up faxing anything. If they are legit as some say, they sure don't have correct information!
What is this??
I have no student loans and they keep calling me....
I've received calls on two seperate occasions....I think it is a phishing scheme to get your personal information. The first time they asked for someone who was not me, but had a close name. That time they wanted my address, and I gave it to them. The second time they asked me for my birth year, and I refused telling them they need to tell ME what year they have on file. He said he couldn't do that. I told them it was kind of funny because the first time I was asked for my address, and this time my birth year - he said he could work with my address. I again refused and told them to tell ME my address. he refused saying it was against the law for him to give me that information. I proceeded to tell him that I think he's phishing for information illegally and would be turning his company over to the proper authorities, then hung up. Problem is, I do not know who to inform!
You are so ignorant. You must not have ANYTHing else to do. Go to work and harrass someone there. Your little comments are not worth 2 s****!
Got a call from this number today. Did not leave a voicemail.
If it's a collection agency, they shouldn't be calling me. All bills are paid. Student loans paid off.
So they can move your acct from collections to disability....when they do that they can discharge your loan and your no longer responsible for it.
These scumbags are violating your rights under color of law which is a couple of felonies. See 18 U.S.C. Sections 241 and 242.
Unfortunately, no attorney will tell you this openly because if he does and he actually tries to enforce your rights, he will get a call from his state's Bar Association, government bureaucrats who control attorneys, and they will threaten to pull his license if he doesn't drop your case and quit trying to make these scumbags follow the law. I know because I was threatened by the Florida Bar bureaucrats for daring to stand up for our rights.
Still, anyone can arrest anyone who is committing a felony, so you can make these scumbags go away. In fact, I think that there is a guy who had his license stolen who has a book about how to do this.
This was recorded by "Pam" on 28 Aug 2008:
678-254-3300 belongs to a bottom-feeding collection company who poses as the Dept. of Education (THEY ARE NOT). I also found out some interesting information about the location of this company.
Name: Financial Asset Management
Cooperate Office: 2859 Paces Ferry Road, Suite 510
Atlanta, GA 30339
Operations Office (Call Center)
1967 Lakeside Parkway, Suite 402
Tucker, GA 30084Caller ID: Unknown
Caller: Financial Asset Management
I am getting phone calls from this number. I do not recognized the number and caller-id does not identify (him, her, or them)! I do not answer it but when the answering machine comes on, (he, she, or they) hang-up. I live in an assisted care facility and am supposed to be on the "Do Not Call" list; how is it that I still get annomous/irratating calls?
I DON'T have a job...I DON'T HAVE ANY WAY OF PAYING MY STUDENT LOANS. I DON'T KNOW HOW THEY GOT MY PRIVATE, NON PUBLISHED NUMBER, UNLESS THEY LOOKED ONLINE, WHICH IS PROBABLY ILLEGAL...AND, IF THEY CALL ME ONE MORE TIME, I WILL REPORT THEM TO THE STUDENT LOAN DEPARTMENT OF MY FINANCIAL AID COMPANY. FIRST OF ALL, I'M ON DEFERMENT FOR A TOTAL OF ONE YEAR...SECOND OF ALL, IF THEY WANT TO TAKE ME TO COURT TO TRY TO GET IT, LET THEM! THE ONLY THING THEY CAN TAKE IS A HOUSE THAT'S IN FORECLOSURE, MY CAR WHICH IS BEING REPOSSESSED, AND MY CLOTHES. OH, AND MAYBE THE BILLS THAT KEEP COMING IN...THAT WOULD BE FINE WITH ME.
SO, THE ANSWER, WHAT DO YOU HAVE TO SAY TO THOSE OF US WHO ARE LOOKING FOR JOBS, CAN'T FIND JOBS, YET, YOUR COMPANY KEEPS CALLING ME AND ASKING ME FOR MONEY UNDER DEFERMENT??? I THINK YOU ALL SHOULD LEAVE US ALONE AND GO ABOUT TRYING TO GET THE TRUE 'CRIMINALS' PUT INTO PRISONS SOMEWHERE. START WITH YOURSELF, OK?
I WILL BE REPORTING THIS TO THE DEPARTMENT OF EDUCATION...AND UNLESS YOU CAN PROVIDE ME WITH A SIGNED CONTRACT, AND PROOF OF BEING IN DEFAULT, SHUT YOUR YAP.
FIRST OF ALL, THERE ARE MANY MISSPELLINGS IN YOUR POST. PLEASE GO BACK TO COLLEGE & LEARN HOW TO SPELL AND USE PROPER GRAMMAR. BETTER YET, SEND ALL OF YOUR POSTINGS TO ME, AND I'LL CORRECT THEM FOR YOU...FOR A TOTAL OF $1000.00 PER MONTH.
Today is April 18, 2012, and I have been receiving calls from this number for several days, Does anyone know who this is?
Margaret in Virginia
Here is what a guy at the US Dept. of Education just told me yesterday. But first, a little background:
I have student loans that, at one point, went into default because I did not pay them. After avoiding collections for years, the US Dept of Education, through the collection agency Financial Asset Management Service, garnished my wages about a year and a half ago. I figured all was well - the debt was being paid and I didn't have to worry about "forgetting" or "not being able" to make my payment each month. Yeah, wage garnishment is easy (they're only taking a relatively small %of my pay, so I don't really miss it).
So yesterday someone from this # calls my work # looking for me. I told them they had the wrong # and immediately researched the #. I was surprised to find it was a debt collector likely calling about my student loans. I called the Dept. of Education and spoke to a gentleman (didn't get his name, my fault) and he said that even though I'm paying my debt through wage garnishment, Financial Asset Management Service will still call to speak to me about removing the garnishment and setting up a traditional repayment plan. It seems the upside of this is that after 9 months on the regular plan, the student loans come out of default and collection fees are removed. He told me that, financially, it's a much better deal (and it sounds like it is).
I'm torn between leaving the wage garnishment (which guarantees on-time loan payments without any effort on my part) or setting up a more financially-sound plan with Financial Asset Management Service but risking not being able to make a payement on time and messing up the repayment plan (I'm still not great with money). For now I'm sticking with the wage garnishment since the debt is being paid. My credit scores are in the mid-800s so I'm not taking a big hit credit-wise because of my student loan status.
i received a call from this number today, but they asked for my mother by name and she lives in another state!
Just who is it you think is "going to let you know"?? that's an idiotic thing to post.
Do you realize what a hypocrite you are? "Stop hiring people who don't pay thier bills" and yet you berate people about not paying their bills? How do you expect them to be able to do that if you are at the same time berating someone for hiring people who are getting calls from bottom feeders like you?
You are totally, completely ignorant.
I receive unsolicited calls everyday at various times thoughout the day. My student loans are in deferment because I'm a student and will not be making any payments until I'm finished with school. This is harassment.
Concerned Screwed Citizen
Interesting you say that you have had a positive experience with Financial Asset Management (FAMS)....OK...how is that going these days!?
My story is Federal Student Aid screwed me years ago through a loop hole after I was injured on my job and unable to continue school! Subsequently, I never did get to finish my education because of them so I do not have my B.A. which but they made sure I owed them with no help to make it different ending up owing $35,000.00 for three years of college with no degree and no real possibility to finish it! After a long time, and several deferrals and forbearances later with the student loan people, it took like 10 years for this Financial Asset Management (FAMS) company to come after me which they did this last spring 2011! They started out by harassing me at my work and trying to get personal information about me from my fellow employees at my work and calling my relatives harassing them for info too! Even though these activities are against the law in all states they will do it and more if you let them!
After finding out through independent research that they were an independent collection company for the Dept. of Education and not a branch of or connected to them at all. They are also not a loan or financial institution-they are a collection company and that is all they do and they will do it to you if you let them! In an effort to get them off my back I gave into to their requests because at the time I could somewhat afford giving away the $330 a month for a while with their promise of a total of 9 months to make their down payment for loan rehabilitation which is fiction! By the sixth month I found out all about them and by the eighth month they received their last payment from me! They ended up getting more than I really wanted after finding out about them!
For example, this $2200+ they are stealing from anyone that participates is not a payment toward your loans at all! This so called down payment is only a small portion of $9000.00 plus of collection fees they attach to your student loan debt to handle and collect the debt and in the end you will pay the full amount of their collection fees regardless of what they promise and they get this independent of your loan debt amount and for free! After your so called down payment, your monthly payments will increase to about twice the original amount requested; anywhere from $650-1000.00 a month and this will continue to go up as time goes by! During this course of payments, your loan or combined loan(s) will not show on your credit report as a loan but a consolidated outstanding debt under collection just as before you started making payments! As a result, your credit score will not change or improve as they are not a loan company but a collection company, there is a 50/50 chance that your tax return will be seized as additional payment of a student loan debt which is independent of FAMS.
Financial Asset Management (FAMS) are thieves working under the guise of working for you and uncle sam and they will take anything they can get, make false promises to rehabilitate your loans and stop tax return seizure and garnishments but this is not true people, FAMS makes their money off of our backs through fear tactics and coercion and they make it sound soo good for you! The bottom line is this, you can not stop them completely since they are attempting to collect a federally insured debt but you can slow them down, way down in fact! After six months of being screwed, living very poorly because of them and giving them close to $1000.00 more than I should have (read about this below) I got smart and others should too especially if you are poor like me living just above the poverty line and you truly cannot afford giving away for nothing what little money you get from honest work to people who will not truly be helping you!
Most people fear the word garnishment like the woman who posted the original thread but if you work for minimum wage too or even make more like some people you do not have to fear garnishment or Administrative Wage Garnishment as it is properly called for payment on a student loan debt because the Federal Student Aid website (http://www2.ed.gov/offices/OSFAP/DCS/awg.html) clearly states:
Administrative Wage Garnishment
"Under the Higher Education Act, the Department and guaranty agencies may require employers who employ individuals who have defaulted on the repayment of a student loan to deduct 15% of the borrower's disposable pay per pay period toward repayment of the debt. Also, the Debt Collection Improvement Act of 1996 permits the Department to garnish up to 15% of disposable pay. Garnishment may continue until the entire balance of the outstanding loan is paid. You should note that wage garnishment is used only for borrowers who refuse to voluntarily repay their defaulted loan and is not used with those borrowers who continue to make regular and timely monthly payments...."
The math is simple, they cannot take more than 15% of your total final wage (your take home amount after taxes, benefits, etc.) through garnishment for payment of a student loan debt period! Think about what I stated earlier, FAMS demanded $330 a month from me when I could have let them garnish (which I am now) and they now will receive only a little over half of that or about $175 a month which will change only if I make more or less over time! If I would have let them garnish from the get go, I would have saved myself $1000.00 which would be in my pocket not theirs! By allowing administrative wage garnishment, they cannot take anymore than 15% under law and they cannot force you to pay them anything more than that 15% unless the law changes! So I say screw FAMS and their bull! A word of advice though, let your company payroll people know about this student loan debt garnishment in advance so it is handled properly. Yes, it is embarrassing but make sure the law is followed so you do not get screwed further because once a garnishment starts even if it is not correctly coded and accepted properly, it is almost impossible to amend or change that garnishment order without a court action to do so!! Oh, one last bit of important info, if you do have student loans that become in default you can also have your federal tax return seized by the Department of Education just like I did for two years, and they can do this indefinitely but there are ways to prevent this too, so do your research!
In closing, I aoplogize for any bad grammar!
They called this morning and asked for *my name*. The next question they asked was "Can you tell us your Social Security Number to confirm?" Heck no! I just hung up. Next time I'll ask the girl her social to confirm her identity.
I am on permanent disability so why would they be calling me?
12:25 pm pacific
Financial Asset Management.
They asked for someone who does not live here, were pushy, very rude to my visiting elderly mother... she was very upset... what the hell, how is this legal?
When are these companies going to be policed?
They called me and were very, extremely, horribly rude. They actually scolded me for not being able to make payments that I had placed in deferment due to medical reasons.