Asset Management Outsourcing Inc or AMO is a debt collection agency, which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
Asset Management Outsourcing (AMO) was founded in 1997 in Peachtree, Georgia. It has affiliate offices under different names in other nations, such as AMO Recoveries (also Called National Recovery Services) in Lynwood, Washington, and AMO Recoveries, Inc. (also Called Collections Unlimited, Inc. and Asset Management Outsourcing Recoveries, Inc.) in Green Bay, Wisconsin. This is a business with a great deal of different names.
AMO provides an extremely broad assortment of financial solutions, such as debt collection services, pre-collection providers, loan review and underwriting, and short sale negotiating. It has recently branched out into providing clients with onsite personnel to take care of various administrative functions like payroll, invoice processing, and AR management. Asset Management Outsourcing utilizes pre-chargeoff collection, skip tracing, letter collection, robocalls, and litigation to collect customer and business-to-business debts.
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Is Asset Management Outsourcing a scam?
They’re legit. According to the Better Business Bureau (BBB), Asset Management Outsourcing , Inc. was founded in 1999. The BBB established a profile page for AMO in 2004. The BBB lists AMO as a collection agency that uses that alternate business names, AMO Recoveries (AMOR) and Nationwide Recovery Services. Buzzfile estimates AMO’s annual revenue at $48 million and the size of its headquarters staff at7 employees, with an estimated 1,000 employees across all locations.
According to its website, AMO “is a leading provider of outsourcing services and technology to the financial services industry.”AMOR is the accounts receivable management (ARM) division of AMO. AMOR “is a licensed debt collector in all requiring states,” and the AMO website states that AMOR is “one of the most effective collectors of delinquent debt in the United States.”
Asset Management Outsourcing collects delinquent debts for “leading corporations, healthcare entities, and government clients.” AMO manages several other affiliate organizations, including AMO Services. Together, AMO’s affiliates also serve the needs of “various mortgage default management services,” including loan modifications and short sales; valuation services, including BPOs and appraisals; REO management;uninsured title; equity analysis; and third-party quality control reviews.
AMO’s first-party collection division provides clients with a “customized, customer service approach in contacting delinquent consumers and working with them for proper resolution” by making “reminder calls to recently past due consumers in the client’s name” and by making “collection calls to consumers that are more seriously delinquent.” AMO’s third-party collection division provides complete debt collection services, including “initial phone scrub and scoring”; FDCPA litigiousness scrub; bankruptcy/deceased scrub; NCOA scrub; “intense telephone efforts”; “automated and manual skip tracing”; collection notices; and credit reporting to all 3 national credit reporting agencies.
AMO cites compliance policies that include licensing and bonding; “FDCPA compliance and adherence to privacy regulations”; detailed complaint tracking; and “7-panel drug screening and in-depth background checks” for employees. However, their website is client-facing and does not provide links and references to consumer protection resources, laws, or enforcement agencies.
How many Complaints are there against Asset Management Outsourcing?
As of October 2019, the BBB has closed 2 complaints against Asset Management Outsourcing in the preceding three years, one of them closed in the previous 12 months. One complaint alleged problems with billing and collections; the other complaint alleged problems with advertising and sales.As of July 2013, the Consumer Financial Protection Bureau (CFPB)has closed 406 complaints involving AMO. Justia lists at least 5 cases of civil litigation involving AMO.
Who are we? We are Lemberg Law, a Consumer Law Firm
Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We are ranked A+ by the BBB. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors. Harassed? Abused? Misled by a collector? Call our Helpline today! There is no charge unless we win.
Asset Management Outsourcing, Inc. 5655 Peachtree Pkwy, Suite 213 Norcross, GA 30092 Phone Number: 800-771-3400 Website: http://amorecoveries.com/
Can Asset Management Outsourcing Sue Me or Garnish My Wages?
It is illegal for a debt collector to make empty threats to sue you or garnish your wages. It is also unlikely AMO 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
Can you help me file a No Fee Lawsuit against Asset Management Outsourcing?
Complaints against Asset Management Outsourcing cite problems resulting from disputes about the validity of debts, and allegations of harassment. In January 2019, a complainant stated that he had been contacted by AMO regarding “a bogus medical bill” for about $200.00 that allegedly originated from his insurance company. According to the complainant, he currently has insurance, and they were not asking him to pay any outstanding balances; only AMO was “demanding this amount,” which he claimed not to owe. He called his insurance company, and they stated that they do not know anything about“this bill from ‘Nationwide Recovery Service.’”He also said that the letter he received “has 3 different addresses on it” and stated that if he didn’t “pay the amount in 35 days that his debt will be sent to collections.” He“checked his credit report,” but no indication of the delinquent bill had yet appeared. He said he had received the letter in early December, and that at the time of the complaint, 35 days had not yet elapsed. He was “very worried about what may… happen and what he can do to not feel so helpless.” He also said he had “worked very hard on his credit, and if AMO… damages his score with a bill he doesn’t even owe, that is very unjust” and does not believe AMO should be able to“get away with it.”
In June 2017, another complainant stated that Asset Management Outsourcing had been continuously calling him. According to the complainant, he “usually blocks the numbers,” so now they had begun calling his place of employment,“saying they are a process service company and need to speak to the complainant’s‘manager’ about their policy on serving people at the office.” The complainant told AMO “to bring on the papers, and they proceeded to ask the complainant to verify” his identity. The complainant was employed at a law firm, so he knew their approach was “not normal protocol for process service in his state.” The complainant also said he had received calls from other numbers “out of Florence, South Carolina,” during which he was told that he has “a pending lawsuit and to call” a specified number, “ask for the legal department, and give them his case number.” The complainant said he complied with their instructions, but when he called the “‘legal department’ and gave them his ‘case number,’ they proceeded to ask him to ‘verify’ who he was by giving them his date of birth and the last four digits of his social security number.” He requested that the harassment and continued calls to his place of employment and family and friends cease.
Asset Management Outsourcing Calling You?
Federal laws protect you. The Fair Debt Collections Practices Act (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).
But here’s the rub: If you want to enforce your rights, or recover money for violations — you need to sue. These laws provide individuals like you 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.
Consumers have reported this agency harassing them from the following numbers:
“We realize that ours is only one little case among many — and a lot more serious — but are heartened by the fact that you accepted it and represented us with a professionalism which belied the small dollar amount.”
“When my husband got sick and lost his job, I understood that paying all of the medical bills was going to be an issue. What I didn’t understand was that we’d be bombed with telephone calls day and night. I found your site and was contacted the same day that I submitted my advice. You did not charge me, you got cash from the collector, and we finally have silent phones. Thank you for what you did for us!”
“Lemberg Law contacted me within a few hours of me submitting my advice on their website. That same afternoon Daniel emailed me instructions about what to do the second time the collection agency called. Within a week, the calls had ceased. Today marks week two and we have not had a call in 3 days. I can not say thank you enough.”
Can You Help Me Delete Asset Management Outsourcing from My Credit Report?
We’ll be delighted to assist. Give us a call and let us know what is happening.
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About the Author:
Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.