Professional Finance Company, Inc. (PFC) is a third-party collection agency based in Colorado. PFC has received consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including threatening to take actions that cannot legally be taken and using false or misleading language in an effort to collect a debt.If PFC has contacted you about past due financial obligations,make sure you understand your rights before you take action.
The harassing company pays our fees.
They’re legit. According to the Better Business Bureau (BBB),Professional Finance Company, Inc. is a legitimate collection agency, founded in 1952 and incorporated in 1985. The BBB established a profile page for PFC in 1984, and PFC has been a BBB-accredited business since then. Buzzfile estimates PFC’s annual revenue at $22.3 million and the size of its headquarters staff at 185 employees.
According to its website, PFC “is one of the nation’s leading debt collection agencies.” PFC states that it “is more effective and efficient in recovering past due accounts because its methods are designed to educate and help consumers better understand and address their financial obligations to their creditors.”
Professional Finance Company collects debt for a variety of businesses and industries, including healthcare providers, consumer retail lenders, financial services organizations, and government agencies. PFC offers collection services in three areas: debt recovery, self-pay early-out, and debt purchasing.
PFC’s debt recovery division offers “contingency-based collection programs that focus… on… consumers and resolving the account balance quickly, efficiently, and ethically while representing their clients’ …values.” Collection services include patient analytic driven workflows; compliance and quality assurance; full litigation capabilities; and online payment options.
PFC’s self-pay early-out services “provide… a patient friendly extension to…business offices that accelerates cash collection on self-pay accounts at a reduced cost.” PFC’s debt purchasing division—PFC Funding—is a partner of PFC“and acquires, manages, and liquidates portfolios of defaulted receivables from credit originators.”
PFC states that it is a “fully compliant debt collection agency… that adheres to all Fair Debt Collection Practices Act (FDCPA) guidelines and offers consumers numerous benefits to make their debt repayment easier.” The Consumers page includes a link to the Ask Dr. Debt page of the website for the International Association of Credit and Collection Professionals (ACA International). However, there are no links to consumer protection laws, public resources, 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.
As of April 2019, the BBB has closed 20 complaints against Professional Finance Company in the preceding 3 years, with 6 complaints closed in the previous 12 months. Most of those complaints cited problems with billing and collections. Since April 2015, the Consumer Financial Protection Bureau (CFPB) has closed 68 complaints involving PFC. Justia lists at least 3 cases of civil litigation involving PFC.
Professional Finance Company, Inc.
5754 W. 11th Street, Suite 100
Greeley, CO 80634
Phone Number: 800-864-4391
Website: http://www.pfccollects.com/
It is illegal for a debt collector to make empty threats to sue you or garnish your wages. It is also unlikely PFC 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!
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In March 2016, in United States District Court for the Western District of Missouri, Western Division, a judge issued an order and opinion in a case alleging Professional Finance Company had violated several provisions of the FDCPA. In this case, the plaintiff had incurred debt with a utility service provider, which was sent to PFC for collection. PFC sent collection letters to the plaintiff that included language required by the FDCPA. However, on the back of the letter, PFC had included the following statement:
“As of the date of this letter, you owe the amount indicated under the amount due on the front side of this notice. Because of interest, late charges, and other charges that may vary from day to day, the amount due on the day you pay the balance may be greater. If you would like current accurate information concerning your balance, please call.”
The plaintiff argued that this language violated Sections 1692d, e, f, and g of the FDCPA. The plaintiff stated that the utility service provider “does not apply interest, late charges, or other charges to debts owed.” In addition, the plaintiff alleged that “PFC had no statutory or contractual authority to collect interest, late charges, or other charges” in relation to the debt. “Because the original creditor did not apply interest or other charges and because PFC had no authority to add interest or other charges, the amount due would not vary from day to day…Thus, PFC was materially misrepresenting the character of the debt.” The plaintiff also argued that PFC’s statements “falsely suggest… that the amount of their respective debts will increase daily due to ‘interest, late charges and other charges’ that ‘may vary from day to day,’ even though the account balance will not and cannot increase.” As a result, the language PFC used in their collection letters was “materially deceptive and misleading” and amounted to “false threats…in an attempt to intimidate them.”
Attorneys for PFC attempted to argue that the “statement about the possible accrual of interest and charges in their letters does not violate the FDCPA because it includes ‘safe harbor’ language articulated and approved by the Seventh Circuit Court of Appeals.” Specifically, by stating that additional charges may accrue rather than stating that such charges will accrue, PFC attempted to argue that they had not violated the FDCPA. The court disagreed with most of PFC’s reasoning. They dismissed charges that PFC had violated Section 1692d, but they upheld the plaintiff’s complaint in all other regards.
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:
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“My mom and I want to say thanks to the team of Lemberg Law for all the hard work and effort that was taken to take care of the debt collector and the Fair Debt Collection Practices Act. Because of this, the phones do not ring off the hook anymore.”
“You’re very professional and useful…. For once I did not feel as though I was alone in the conflict. I got a check in the company — which was amazing in itself — but also the debt collector is no longer on my spine. It feels like a weight has been lifted off my shoulders.”
“I am so blessed that through this dreadful, terrifying encounter, your company was there to help me. I can not thank you enough.”
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Sergei Lemberg is an attorney focusing on consumer law, class actions related to automotive issues, and personal injury litigation. With nearly two decades of experience, his areas of practice include Lemon Law (vehicle defects), Debt Collection Harassment, TCPA (illegal robocalls and texts), Fair Credit Reporting Act, Overtime claims, Personal Injury cases, and Class Actions. He has consistently been recognized as the nation's "most active consumer attorney." In 2020, Mr. Lemberg represented Noah Duguid before the United States Supreme Court in the landmark case Duguid v. Facebook. He is also the author of "Defanging Debt Collectors," a guide that empowers consumers to fight back against debt collectors and prevail, as well as "Lemon Law 101: The Laws That Lemon Dealers Don't Want You to Know."
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Professional finance has attached numerous bills to my credit report. When I contacted them they hung up on me. Then I sent them a letter with no reply. Called again was told they don’t have to the debt. Now they had me served with a court summons to appear that was blank. I went on and made out the reply with the courts and sent them a copy. But who knows this is a rotten company. The hospital statement does not show the outstanding balances they claim. What can be done?