Finance System of Richmond or FSR Collections 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.
Finance System of Richmond Inc or FSR is a third-party collection agency based in Indiana. FSR has received consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including attempting to collect debts not owed and failure to verify debts. If you have been contacted by Finance System of Richmond , make sure you understand your rights before responding.
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Is Finance System of Richmond a scam?
They’re legit. According to the Better Business Bureau (BBB), Finance System of Richmond , Inc. was founded in 1955 and incorporated in 1973. The BBB established a profile page for FSR in 2009. FSR is listed as a collection agency and billing service that uses the alternate business name, Radiologybills.com. Buzzfile estimates FSR’s annual revenue at $450,000 and the size of its headquarters staff at 7 employees.
According to its website, Finance System of Richmond “is a third-generation family owned and operated accounts receivable management firm.” FSR uses “the personal attention of a family owned business and offers decades of experience, fast service, customized solutions and cutting-edge technology… to have results beyond a large global agency.” FAR is “one of the fastest growing firms in the country, managing over $40 million in accounts receivable annually.”
As a full-service accounts receivable management company, Finance System of Richmond offers third-party and first-party options for businesses from a variety of industries. FDR’s third-party debt collection division employs a collection staff “trained and experienced in all phases of the revenue cycle…and provides credit reporting, legal support, skip tracing, and bill reminders.” Once delinquent accounts are placed with FSR, collectors “immediately begin collection proceedings by sending a letter advising the debtor that the account has been placed with” FSR. Then, the “collection team will attend to the account” using phone calls, credit reporting, and, in some cases, legal action.
FDR’s first-party business process outsourcing and billing services address “accounts receivable… at an early point in their billing life cycle, usually from 1 to 30 days of account” placement into FDR’s proprietary Accelerate! Self-Pay billing and accounting system. FSR “then takes over all functions usually handled by …clients’ in-house billing and collection staff, doing everything from insurance follow-up, credit investigations, mailing statements, and making collection phone calls to the outstanding accounts, to resolving problems and making payment arrangements.”
Finance System of Richmond accepts delinquent accounts from a variety of industries, including medical and healthcare providers; retail and service providers; bad check recovery; defaulted loans; credit card debt; veterinary bills; municipalities; heating, oil, and HVAC; dental practices; education lenders; and utility companies. FSR indicates its affiliation with several professional associations, including the International Association of Credit and Collection Professionals (ACA International) and the Healthcare Financial Management Association (HFMA). However, their website does not include a consumer resources page.
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.
How many complaints are there against Finance System of Richmond – FSR?
The BBB has closed 7 complaints against Finance System of Richmond in the preceding 3 years, with 1 complaint closed in the past 12 months. All of those complaints alleged problems with billing and collections. Since May 2016, the Consumer Financial Protection Bureau (CFPB) has closed 1 complaint against FSR. Justia lists at least 2 cases of civil litigation involving Finance System of Richmond.
Can Finance System of Richmond 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 Finance System of Richmond 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!
Unlawful Debt Harassment? Learn the Law & Sue the Collector.
Can you help me file a No Fee Lawsuit against Finance System of Richmond Inc – FSR?
Absolutely. Here are some Sample Cases
Complaints against Finance System of Richmond commonly cite problems resulting from disputes about the validity of debts and the accuracy of information reported to the credit reporting agencies.In January 2016, a complainant indicated he had been receiving collection notices from FSR regarding a medical bill he had already paid. The complainant indicated that that he had been treated at the medical facility named in the collection letter, but that he had settled the debt and received settlement validation from the healthcare provider. The complainant allegedly contacted Finance System of Richmond several times regarding the delinquency. “Each communication made with representatives of FSR ended with the representative explaining…the process… FSR will go through to validate the settlement of debt with the healthcare provider; and, furthermore, each representative of FSR…clearly stated that no further communications will be made…on behalf of the healthcare provider to collect the referenced claim of an unpaid debt.” However, despite FSR’s assurances, the complainant “continued to receive debt collection notices…every thirty days since…October 2015.” The complainant concluded that Finance System of Richmond must “comply with the internal methodologies they have in place…and discontinue… all communications…in reference to this settled debt.”
In response, Finance System of Richmond indicated that “after an investigation into the content of this complaint, …they uncovered a payment reporting glitch with the creditor’s new software.” According to FSR, the healthcare provider had “failed to report…a payment that was made in full on November 22, 2015.” FSR “updated…their records to reflect this payment and have closed out the account in question.” They assured the complainant that he “will not receive any further communications concerning this account …and apologized for the inconvenience…the complainant experienced due to the lack of correspondence from…their client.”
Finance System of Richmond FSR 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.
Stop Debt Collection Harassment
You may have a case, if…
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, a 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
“We realize that ours is just one small case among many – and many more serious – but are heartened by the fact that you accepted it and represented us with a professionalism that belied the small dollar amount.”
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”Lemberg Law has saved me from the endless calls, and harassing voicemails. They really do go to bat for you. I didn’t know that debt collection agencies can end up paying your legal bill. What a surprise, to receive free legal help. I’m very grateful for all the hard work they did to finally give me my life back.”
“I would recommend your company to anyone. You have the debt collectors off my back, and I will finally see the light at the end of the tunnel. Throughout the entire procedure your employees were courteous and professional. I was blown away by their efficacy also.
Can You Help Me Delete Finance System of Richmond FSR from My Credit Report?
We can absolutely help. Call us today.
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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.