Financial Asset Management Systems, Inc. (FAMS) is a Georgia company founded in 1993 that offers billing, receivables management and first- and third-party debt collection. It lists medical and health care providers, contractors and property managers among the industries it serves.
- Type
- Collection agency
- Also known as
- Financial Asset Management Systems, Inc.; FAMS
- Headquarters
- Woodstock, GA
- Collects
- medical bills, contractor and trade invoices, property management balances, small business accounts
- Phone numbers it lists
- (888) 918-5809
- Website
- fams.net
16 debt collection complaints were sent to the Consumer Financial Protection Bureau about Financial Asset Management Systems Inc from November 13, 2023 to November 12, 2026. A complaint is a consumer's account, not a finding that the company broke the law. Read the complaints in the CFPB database.
Who Is Financial Asset Management Systems?
Financial Asset Management Systems, Inc., known as FAMS, describes itself as a "US-based partner in billing, receivables, and collections since 1993." Its website lists a Georgia operations center at 429 Creekstone Ridge in Woodstock, Georgia, and shows an NMLS registration and a compliance manager certificate, which are part of state collection-agency licensing.
FAMS offers billing and invoice management, accounts receivable work, customer service outsourcing, and both "first party" and "third party" collections. We did not find a CFPB enforcement action against Financial Asset Management Systems.
Why Financial Asset Management Systems May Be Contacting You
The industries on FAMS's website are medical and health care, contractors and trades, property management, and small businesses. A contact from FAMS could therefore be about a medical bill, an invoice from a contractor or repair business, or a balance a landlord or property manager says you owe.
FAMS lists both first-party and third-party collections, and the difference matters. Generally, first-party collection is follow-up done for a business on its own accounts, often before they are treated as in collection. Third-party collection is work done as an outside collection agency on past-due accounts, which is where most FDCPA protections apply. If you are unsure which one you are dealing with, ask.
How to Check a Debt Financial Asset Management Systems Says You Owe
- Look for the validation notice once the account is in third-party collection. It must name the creditor, itemize the balance and tell you the dispute deadline (15 U.S.C. § 1692g; 12 C.F.R. § 1006.34).
- Dispute in writing within that period if the work was incomplete, the bill was paid, or the charges are not yours.
- Ask which business placed the account and whether it still owns the debt.
- Compare the balance with your contract, estimate, invoice, lease ledger or explanation of benefits.
- Consider whether the debt is old. In Texas, most suits on a debt must be filed within four years (Tex. Civ. Prac. & Rem. Code § 16.004), and debt buyers may not sue on time-barred consumer debt (Tex. Fin. Code § 392.307). Georgia and other states set their own deadlines.
What Financial Asset Management Systems Can and Can't Do
When FAMS collects past-due consumer accounts for others as a third party, it is a "debt collector" under 15 U.S.C. § 1692a(6). Some limits:
- It must identify itself as a debt collector in its third-party collection communications (15 U.S.C. § 1692e(11)).
- It may not call more than seven times in seven days about one debt, or within seven days after speaking with you about it (12 C.F.R. § 1006.14(b)(2)).
- It may not add charges unless the original agreement or the law allows them (15 U.S.C. § 1692f(1)).
- It may not discuss your account with your employer, neighbors or relatives except to find you (15 U.S.C. §§ 1692b, 1692c(b)).
See what a debt validation notice is and our Texas FDCPA attorneys page.
We Sue Debt Collectors That Break the FDCPA
Texas Debt Law files Fair Debt Collection Practices Act lawsuits against debt collectors in federal court for consumers in Texas, California, Illinois, Georgia and Colorado. If Financial Asset Management Systems or anyone collecting for it harassed you, misstated what you owe, threatened action it could not take, or told others about your debt, you may have a claim. A court can order a collector that violated the FDCPA to pay your actual damages, up to $1,000 in additional statutory damages, and your attorney's fees and costs (15 U.S.C. § 1692k(a)). An FDCPA claim generally must be filed within one year of the violation (§ 1692k(d)), so keep your letters, call logs, voicemails and screenshots, and talk to us early. Texas residents may also have claims under the Texas Debt Collection Act. Learn more from our FDCPA attorneys.
Free FDCPA Case Review(214) 851-2250
Or start your free case evaluation online. No lawyer can promise a result; every claim depends on its facts and proof.
Sources
- Financial Asset Management Systems: home page
- CFPB enforcement actions list
- CFPB Consumer Complaint Database: Financial Asset Management Systems Inc, debt collection
This profile is general information compiled from public sources, not legal advice, and it does not state or imply that Financial Asset Management Systems has violated any law. Company details change; tell us if something here is out of date.