Financial Account Service Team or FAST 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.
Financial Account Service Team , Inc. (FAST) is a third-party collection agency based in Tennessee that specializes in collecting delinquent healthcare bills. FAST has received consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), such as failing to verify debts and threatening to take actions that cannot legally be taken. If FAST has contacted you about past due collection items, make sure you understand your rights before you take action.
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Is Financial Account Service Team – FAST a scam?
They’re legit. According to the Better Business Bureau (BBB), Financial Account Service Team, Inc.was founded in 1986. The BBB established a profile page for FAST in 1993. The BBB lists FAST as a collection agency that uses the alternate business name, FAST Collection Services, Inc. Buzzfile estimates FAST’s annual revenue at $1.8 million and the size of its headquarters staff at 20 employees.
According to its website, FAST began as “an idea of becoming the best of collection firms…and has grown by providing customers with high rates of recovery along with extensive service and integrity.” FAST uses technology to “customize and… consolidate information… to obtain the best possible chance of contacting and collecting from… consumers.”
The FAST website does not provide a lot of detailed information about the types of businesses or industries for whom they collect debts, except to say that “many of their clients are healthcare organizations whose debtors have accounts with unprocessed health insurance claims.” FAST collectors “help these consumers by filing these claims … when they have an authorization from the consumers” and additional information required for billing. Subsequently, “after an attempt to collect an unprocessed insurance claim, the consumer is still responsible for any unpaid balance on the… account.”
FAST’s general collection procedures involve entering data into their information system. Their “computer system automatically generates two letters during the first 20 days after placement. The first letter has a 10-day waiting period, and the second letter has a 5-day waiting period. After this initial 15-day period, accounts are systematically placed in a regular collection status and are assigned to… collectors…Collectors may attempt to collect accounts verbally, send additional letters to the consumers, initiate skip tracing, or initiate a request to…file suit against a consumer.”
FAST “collection personnel and support staff have been carefully selected for proper attitudes and temperaments, and are thoroughly trained and supervised to insure they are constantly maintaining … the clients’ good image.” FAST “personnel are trained in the Fair Debt Collection Practices Act (FDCPA), and each new employee completes an intensive interactive training process before they begin working with accounts.” However, the FAST website does not provide any links or references to consumer protection resources, laws, or enforcement agencies.
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 Financial Account Service Team FAST?
As of August 2019, the BBB has closed 12 complaints against Financial Account Service Team FAST in the past three years, with 7 complaints closed in the previous 12 months. All of those complaints cited problems with billing and collections. As of July 2017, the Consumer Financial Protection Bureau (CFPB) has closed 19 complaints about FAST. Justia lists at least 3 cases of civil litigation involving FAST.
Financial Account Service Team, Inc. 8300 Kingston Pike Knoxville, TN 37919 Telephone:((865) 693-7660
Can Financial Account Service Team FAST 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 FAST 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 Financial Account Service Team FAST?
Absolutely. Here are some Sample Complaints
In April 2009, in United States District Court for the Eastern District of Tennessee at Knoxville, a judge issued a Memorandum and Order in a case alleging Financial Account Service Team, Inc had violated certain provisions of the FDCPA. In this case, the plaintiff had incurred a debt, which went into default in 1998. Initially, the debt was assigned to a different third-party collection agency, but in 2002, FAST acquired the debt. In November of that year, FAST sent the plaintiff a collection letter. FAST sent a second letter in December, and then a series of additional letters until finally marking the account “for credit bureau removal in March 2004.” After March 2004, FAST sent 11 more collection letters. In July 2007, “having had no contact with the plaintiff, either by telephone or otherwise…FAST… cancelled the account for exhausted efforts and ceased all collection activity.” The plaintiff alleged that “the time period for reporting the debt… as delinquent expired no later than December 31, 2006.”
In January 2008, the plaintiff obtained a copy of his credit report, which showed the delinquent debt had been reported by Financial Account Service Team, Inc with a “date of first delinquency…of September 2002.” The plaintiff stated that the actual date of delinquency was November 2002, and in February 2008, he sent letters to FAST and the credit reporting agencies “notifying them of the disputed date and requesting that the incorrect date be removed from his credit report.” The plaintiff received confirmation from the credit reporting agency that the correct date of delinquency was November 2002, but FAST never responded. The plaintiff obtained additional credit reports in May, November, and December of 2008, but the date of delinquency had not been corrected. As a result, the plaintiff filed a complaint in Aril 2009 alleging that because “FAST continued to report a debt beyond the time allowed after the first delinquency, incorrectly reported the date of delinquency or date the account was opened,and failed to report that the debt was disputed,” their action constituted “false, misleading, and unfair communications, acts,omissions, and/or practices in an illegal attempt to collect a debt and in violation of ‘numerous provisions of the FDCPA,’ including” Sections 1692e, 1692e(2)(A), 1692e(8), 1692e(10), and 1692(f).
Attorneys for Financial Account Service Team attempted to argue that the plaintiff’s charges should be dismissed. They stated that because the plaintiff had sent his letter in January 2008, but had not filed a complaint until April 2009, the one-year statute of limitations for filing a complaint had expired. The plaintiff argued that he had notified FAST of their inaccurate reporting in January 2008, but FAST had continued this practice up until he had obtained his last credit report in December 2008. As a result, the statute of limitations restarted every time FAST knowingly reported inaccurate information to the credit reporting agencies. The court stated that the statute of limitations should be measured from the time the violation occurs, not from the date of the dispute. Therefore, the complaint was not beyond the statute of limitations.The plaintiff’s charge was upheld, and FAST was found liable for potential violations of the FCDCPA’s prohibition against “the false representation of…the character, amount, or legal status of any debt…or “communicating or threatening to communicate to any person credit information which is known or which should be known tobe false, including the failure to communicate that a disputed debt is disputed.”
Financial Account Service Team FAST 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.
Want to Stop Debt Collection Harassment Now?
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
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“Prior to contacting you, we had tried repeatedly to handle this matter without threatening litigation. In the end, not only were they unapologetic, but they were dismissive – even of an attorney friend who called on our behalf. Sincerest thanks for resolving this matter for us!”
“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.”
“Thank you and your team at Lemberg Law for the exceptional work you did on my behalf. I have never experienced the level of care, professionalism, timeliness in follow-through, and monetary compensation obtained through your firm.”
Can You Help Me Delete Financial Account Service Team FAST 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.
Yes indeed. I received a call from Vernon. Right away from the start he was rude and threatening. Telling me over and over he would garnish me. I said you can’t because this is the first time I am hearing from you on this matter. I was waiting for financial help I applied for for these bills before I settled them. He refused payment from me and said I had to pay it all at once or he was contacting my job. I hung up because he was over talking me and kept on with the threats. I called back and talked to a nice lady and she took my payment. I have 2 bills for this hospital stay and didn’t realize they were 2 different institutions and due to an error on my part didn’t call in February’s payment. As soon as I realized I called immediately today to resolve this. Jessica transferred me to Vernon. Again, he was awful and I ask to deal with someone else. He wouldn’t. I sucked it up even though he lied and was awful again and let him take my payment. He said to me “I’ll be right back with your confirmation and I got a little something for you so hold on”. He came back..did not give me a confirmation number but instead WHILE I was making this payment he again told me he was calling my job and garnishing my wages. I said I know my rights here. I hung up again after he got ridiculous and called to speak to upper management. They wouldn’t let me and put Tyler on the phone. I respectfully ask Tyler to give my profile to someone else and he said I cant do that but make your payments and Vernon won’t call you again. I set up payments with them for the 13th of every month. Vernon didn’t run my payment as he claimed to. They aren’t sending me any kind of receipt after payment either. I don’t trust them with my finacial information after Vernon has threatened me over and over with no justification.
back in March i finally asked them to stop calling me when the lady stated she can no settle my account. got a call a couple of weeks ago again, and told the lady unless they wanted to settle that i already stated not to call me. we hung-up and she called back and said that the client is not wanting to settle with me. (i owe 400 to a dentist). today after having that last conversation with them, there attorney called me and said if i didnt pay they had a signed affidavit and will be sueing me. PLEASE HELP