Finex Group, LLC 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 Finex Group?
Finex Group , LLC is a third-party collection agency based in Northern California. Finex has received consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including improper sharing of information and attempting to collect debts not owed. If you have been contacted by Finex, be sure you understand your rights before taking action.
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Is Finex Group a scam?
They’re legit. According to the Better Business Bureau (BBB), Finex Group, LLC is a legitimate collection agency, founded in 2007, and the BBB established its profile page in 2008. Finex is listed as a collection agency and collection system service with a staff estimated at 8 people.
According to its website, Finex is “one of the nation’s leading experts…practicing the highest levels of compliance and delivering significant returns to…clients while offering contingency rates—if there is no collection, then there is no fee.” Finex cites as its strength its ability to “collect from what others call ‘uncollectable’ accounts… such as difficult to locate and reluctant accounts…or previous agency assigned accounts.”
Finex’s Services page indicates its collection staff offers “professional services,” and collects delinquencies for telecommunications; consumer retail; and medical and dental providers, as well as providing legal services. Linked brochures also indicate Finex collects credit card debt; consumer loans; and auto and mortgage delinquencies. Although Finex does not appear to be licensed as a repossession agency, they also offer towing services and claim to be the “Towers’ Choice,” citing their membership in the California Tow Truck Association.
Who does Finex Group collect for?
Brochures uploaded to Finex’s website indicate they are a full-service collection agency with standard services such as predictive dialing machines, collection letter services, credit reporting services, customized collection reports, and online account monitoring. However, their website does not provide any detailed information about their collection practices or their compliance policies. There are no 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 Finex Group?
As of October 2017, the BBB has given Finex a rating of F. The BBB has closed 10 complaints against Finex in the past three years, with 3 closed in the past 12 months. Most of the complaints allege problems with billing and collections. Since May2015, the Consumer Financial Protection Bureau (CFPB) has received 10 complaints about Finex, and Justia lists at least 3cases of civil litigation naming Finex as a defendant.
Finex Group, LLC 1394 Tully Rd., Ste. 207 San Jose, CA 95122-3057 Telephone: (877) 443-4686
It is illegal for a debt collector to make empty threats to sue you or garnish your wages. It is also unlikely Finex 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 May 2011, in United States District Court for the Northern District of California, a judge issued an order in a case alleging violations of the Fair Credit Reporting Act (FCRA). In this case, law enforcement agents in 2009 directed a company called Big Guys Towing to tow his car for an unstated reason. The plaintiff failed to pay Big Guys Towing for the towing and storage of his car, and Big Guys Towing subsequently sold his car, then retained the services of Finex to recover from the plaintiff the difference between the sale price of the car and the amount owed for its towing and storage. To collect the funds on behalf of Big Guys Towing, Finex requested a copy of the plaintiff’s credit report from Experian credit reporting agency. Experian credit reporting agency provided Finex with the information.
The plaintiff charged that Finex and Experian violated provisions of the FCRA that prohibit the sharing of credit information without a legally permissible purpose. Experian argued that it is legally permitted to furnish collection agencies with credit report information for the purposes of collecting a debt. The plaintiff acknowledged that the FCRA “authorizes ‘a consumer reporting agency to furnish a consumer credit report to a person it has reason to believe intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer.’” However, a 2007 decision “amended the FCRA to define ‘credit’ as a ‘right . . . to defer payment,’ and, as a result, a ‘credit transaction’ is a transaction in which the consumer directly participates and voluntarily seeks credit.’” Therefore, because Finex was collecting a debt on behalf of Big Guys Towing that did not result from “a transaction in which the consumer directly participates and voluntarily seeks credit,” Finex’s request for credit information, and Experian’s furnishing of that credit information is not a permissible purpose. Because Experian was bound by precedent-setting case law that had determined furnishing credit information for towing-related debts like the one in this case is prohibited under the FCRA, their conduct was deemed egregious enough to “have run ‘a risk of violating the law substantially greater than the risk associated with a reading that was merely careless,’” thereby entitling the plaintiff to seek “actual or statutory damages, punitive damages and reasonable attorneys’ fees.”
Finex Group 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 Finex 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.
Want to Stop Finex Group Debt Collection Harassment Now?
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Can You Help Me Delete Finex Group from My Credit Report?
Chances are good that we can help. Call us today and we’ll explain.
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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.