Financial Credit Network , Inc or FCN is a third-party collection agency based in Southern California. FCN has received consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including threatening to take actions that cannot legally be taken and attempting to collect debts not owed. If you have been contacted by this debt collector, make sure you understand your rights before responding.
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According to the Better Business Bureau (BBB), Financial Credit Network, Inc. is a legitimate collection agency, founded in 1954 and incorporated in 2002. The BBB established a profile page for FCN in 1989. FCN is listed as a collection agency. Buzzfile estimates FCN’s annual revenue at $6.6 million and the size of its headquarters staff at 50 employees, with an estimated 65 total employees across all locations.
According to its website, FCN “has been in the debt collection business since 1954.” Their “corporate office is one of Visalia’s premier historical landmarks, providing an unprecedented work environment within the collection industry.” FCN cites as its strength “the belief that people matter,” and that kindness is “the magic behind collecting money.”
FCN employs a 4-step collection process. In Step 1, collectors “can quote a rate and get an agreement in [the client’s] hands.” In Step 2, FCN initiates the collection process by entering account information into their system. In Step 3, FCN’s collection staff begins sending letters and making phone calls. In Step 4, recovered funds are returned to the client at the previously agreed rate.
FCN accepts delinquent accounts from a variety of industries. Medical clients include hospitals, clinics, labs, doctor’s offices, and billing companies. Utility clients include gas, electric, water, and waste management service providers. Government clients include judicial councils and city and county agencies. FCN also collects delinquent debts for local businesses.
The FCN University provides web-based training in topics such as web portal administration, legal collection practices, dispute resolution, and litigating delinquent accounts. FCN’s Resources page includes links to the Ask Dr. Debt website, the Federal Trade Commission, and the three national credit reporting agencies.
The BBB has closed 20 complaints against Financial Credit Network in the preceding 3 years, with 7 complaints closed in the past 12 months. About half of those complaints alleged problems with billing and collections, with several complaints also alleging problems with sales and customer service. Since August 2015, the Consumer Financial Protection Bureau (CFPB) has closed 46 complaints. Justia lists at least 9 cases of civil litigation involving FCN.
Financial Credit Network, Inc.
1300 W. Main St.
Visalia, CA 93291-5825
Telephone: (559) 733-7550
It is illegal for a debt collector to threaten to sue you or garnish your wages. It is also unlikely FCN would sue you for a debt you may not owe or they cannot validate. However, debt collection agencies are known to have summoned debtors to court and garnish wages after a default judgement. Contacting an attorney BEFORE this could possibly happen would be a smart move. We’ve helped thousands of consumers fight back against unscrupulous debt collection harassers. Find out if we can help you too today!
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Absolutely. Here are some Sample Cases filed in Federal Court
Complaints against Financial Credit Network commonly cite problems resulting from rude and unprofessional customer service and disputes about the accuracy of accounting methods. In September 2017, a complainant indicated that she had contacted FCN to pay off a delinquent debt that had been sent to collections two years previously. The complainant stated that she had “offered to pay the balance in full… the following month, but…FCN refused to take a payment for the following month without putting any money down immediately.” The complainant stated that she was surprised that FCN’s representatives were displeased that she had contacted them voluntarily to pay off the account. In addition, the FCN representative was allegedly “rude, condescending, … interrupted …her numerous times, …and made…her feel bad about not paying it off immediately.” The complainant stated that FCN gave the impression that paying the debt in full the next month wasn’t good enough.” The complainant had “never been treated so poorly when attempting to pay off a bill…or debt, which was …. especially upsetting since… she was the one that reached out to them.” The complainant also stated that she realized that “everyone that works at FCN is there to do a job, but being nasty to… customers that are offering to …provide their debit card information to pay off a debt… doesn’t seem like a good business practice,” and that FCN should have “kindly asked her to call back next month and made a notation on …her account.” She concluded by stating that FCN “offered…her zero solutions unless…she was willing to give them money” up front.
In December 2017, a complainant indicated that Financial Credit Network had “been awful to” her. She had detected a delinquency that FCN had placed on her credit report. When she contacted FCN, she told them she “had not received any… correspondence from them regarding…her collections account, and if they had sent anything…they must have sent it to…her old address.” FCN allegedly told her that they “don’t need to send… bills or notify …her of her collection account because it’s …her problem and she just needed to pay.” In addition, FCN stated that “if she knew about it then she doesn’t need reminders.” FCN proceeded to inform the complainant that she “had 2 accounts open with them and that the total amount would… be $490 instead of the initial $226 they had mentioned.” The complainant indicated she was willing to pay the initial amount owed, but that “since she did not receive notice about the collections account being open she should not be held accountable for the accrued amount.” FCN allegedly responded that she “did not qualify for a payment plan and that it was her job to pay them what she owed for their services.” The complainant alleged that Financial Credit Network representatives were “rude and unprofessional and openly admitted to not sending…any notice of her collection account.”
The Fair Debt Collections Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) are enforced by the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB).
The FDCPA regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt.
The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA). The complaint above illustrates how these laws can be extremely effective tools to hold accountable collection agencies who fail to adhere to their provisions.
These laws also provide individuals with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.
Seek legal assistance to find the relief you may be entitled to if you are having difficulty resolving disputes with a debt collection agency
Your debt harassment checklist:
- You are receiving multiple calls per week from third party collection agencies
- You are receiving early morning or late night calls from debt collectors
- You are receiving calls at work from a debt collection agency
- Debt collectors are calling your friends, neighbors, or coworkers
- Collectors are threatening you with violence, lawsuit, or arrest
- A debt collector attempts to collect more than you owe
- You are being threatened with negative credit reporting
- A debt collector attempts to intimidate you
- Criminal accusations are being made towards you
- Use of obscene language during an attempt to collect
- Automated robocalls are being made to your phone in an attempt to collect
If you’ve been harassed by debt collectors and even one of these has happened to you, we can help. We will fight for your rights.
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The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200 NOW.
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