Financial Corporation of America or FCOA 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.
What is Financial Corporation of America?
Financial Corporation of America or FCOA is a third-party collection agency based in Texas. FCOA has received consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including failure to verify debts and attempting to collect debts not owed.If you have been contacted by Financial Corporation of America, make sure you understand your rights before taking action.
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Is Financial Corporation of America FCOA a scam?
They’re legit. According to the Better Business Bureau (BBB), Financial Corporation of America is a debt consolidation service. The BBB established a profile page for FCOA in 1992. Buzzfile estimates Financial Corporation of America’s annual revenue at $41.4 million and the size of its headquarters staff at 35 people, with an estimated 350 total employees across all locations.
According to its website, Financial Corporation of America provides“customized debt recovery solutions that combine state-of-the-art automation with the industry’s highest level of professionalism, enabling…clients to preserve customer goodwill while dramatically improving accounts receivable… management and debt collections.”
Who does Financial Corporation of America FCOA collect for?
Financial Corporation of America provides debt collection and accounts receivable management services for the healthcare industry and for the commercial and consumer services industry. FCOA’s healthcare division provides its clients with accounts receivable outsourcing; billing services; debt collection; early-out programs; insurance recovery and denial programs; special projects; legal action; bilingual capabilities; skip tracing; and workshops and training.
FCOA’s commercial and consumer services division offers online account placement; fully automated collection and predictive dialer systems; customized client reports; experienced collectors trained in sensitivity to customer retention; first-party; soft audit, and third-party business process outsourcing; flexible staffing hours; an in-house legal department; and prompt account resolution.
Financial Corporation of America is affiliated with several professional associations, including the Healthcare Financial Management Association (HFMA); the American Association of Healthcare Administrative Management (AAHAM); the American Collectors Association (ACA); the National Agriculture Credit Group (NACG); the National Association of Commercial Collectors (NACC); and the National Association of Credit Managers (NACM). However, their website does not include a consumer resources page or links or references to laws and 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 Corporation of America – FCOA?
The BBB has closed 15 complaints against Financial Corporation of America in the preceding 3 years, with 6 complaints closed in the past 12 months. Most of those complaints allege problems with billing and collections. Since May 2015, the Consumer Financial Protection Bureau (CFPB) has closed 35 complaints against FCOA. Justia lists at least 7 cases of civil litigation involving Financial Corporation of America.
Financial Corporation of America 12515 Research Blvd., Ste. 100, Bldg. 2 Austin, TX 78759-2247 Telephone:(800) 880-8200 Website: http://www.fcoa.com/
Can Financial Corporation of America FCOA 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 FCOA 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!
In 2017, a Florida man claimed in a proposed class action that defendant Financial Corporation of America mailed him a collection notice over a medical debt in which the company unlawfully failed to explicitly or implicitly identify his current creditor. The plaintiff claimed the defendant’s notice violated the Fair Debt Collection Practices Act (FDCPA), as it left him, the “least sophisticated consumer,” unsure as to on which creditor’s behalf the defendant was attempting to collect the obligation.
Complaints against Financial Corporation of America commonly cite problems resulting from disputes about the validity of medical bills. In October 2017, a complainant indicated she had been in the hospital for the birth of her child in June 2016, and in January 2017 she started “receiving letters and phone calls from FCOA regarding an outstanding bill from… a 3rd party billing service for contracted hospital physicians…that indicated…she owed roughly $900 for services rendered on June 2nd and June 3rd, 2016.” The complainant researched the charges and was “able to validate one single charge of $239 but could not validate the charge of $639 for ‘initial hospital or birth.’” The charge in question allegedly resulted from a visit by a doctor “for a documented 15 minutes after birth,” and whom the complainant never saw again. The complainant contacted the original medical billing service to obtain a “detailed line item invoice with proper medical coding but was refused and referred back to the collections agency.” Subsequently, the plaintiff tried “on several occasions…to request… a detailed line item medical invoice and NONE have been provided and no one can determine where the charge of $639 came from or what services were provided in those 15 minutes to warrant that charge.” In addition, the complainant alleged that despite several attempts to negotiate a settlement, Financial Corporation of America “would not accept any settlement under $400.” The complainant also alleged that FCOA violated “several cease and desist orders… and continues to attempt contact.” The complainant accused FCOA of “knowingly attempting to collect a debt which appears to be based on fraudulent up-coding…and has threatened to ‘place… the item on…the complainant’s credit report’ even though…they are in the dispute process.”
In response, FCOA insisted that they had sent the itemized billing with appropriate medical coding as requested and that FDA’s response to their settlement offer complied with their internal policies. FCOA also denied violating any cease and desist orders. Financial Corporation of America indicated they had cancelled the account and returned it to the original creditor.
Financial Corporation of America FCOA 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).
Can I sue FCOA for harassment?
Yes. If you want to enforce your rights, or recover money for violations — you need to sue. Federal 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.
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“I just wanted to let you know we received the check from your office on now and I wanted to take some time to inform you that we really appreciate all of your efforts in this matter.”
Can You Help Me Delete Financial Corporation of America FCOA from My Credit Report?
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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.