Consumer complaint received 2023-12-20
Product: Debt collection — Private student loan debt
Issue: Communication tactics — Called before 8am or after 9pm
Company: FINANCIAL ASSET MANAGEMENT SYSTEMS INC (ID)

On Monday, XX/XX/2023 I received a missed call from Financial Asset Management at XXXX. I did not recognize the number and was at work, so I did not answer. At XXXX same day, the receptionist at our managing office called my cell to inform me that Financial Asset Management had just called the branch office to talk to me. Approximately 2 minutes later, my colleague came into my office to let me know that Financial Asset management is on the phone and wants to talk to me. At that instance, I spoke with XXXX XXXX who asked for my birthdate. I informed her that I am at work and that Financial Asset Management not call me while I am working. She arranged to call me on my cell by Friday afternoon, around XXXX, to which I agreed. 

The next day ( XX/XX/2023 ), I received a missed call at XXXX from Financial Asset Management on my cell. Immediately following the missed call, Financial Asset Management again called my place of employment, after having asked XXXX XXXX not to have Financial Asset Management not call me at work the previous day. 

I immediately called Financial Asset Management back on my cell phone, to inform them not to call my employer. I spoke to a few representatives, who asked what phone number not to call. While I was speaking with a representative, I was receiving a call from another representative at Financial Asset Management, which I switched over to. On the line was XXXX XXXX XXXX who asked again for my birthdate as confirmation. When I refused, she continue to give me information regarding my loan. She stated that she did not know that they were not to call my place of employment ( though the lines are supposedly recorded ). She also told me that she is calling to collect on a debt on behalf of XXXX. XXXX was previously withdrawing {$100.00} from my bank account for years and was not putting any amount to principal, as requested. 

XXXX XXXX told me that XXXX will be writing off my loan at the start of the new year as " old debt '' ; because this debt is being written off by XXXX, the amount of loan ( over $ XXXX including fees by XXXX ) will be considered " taxable income '' to me and will put me into another tax bracket. XXXX XXXX said that if I pay a settlement of over $ XXXX, the debt will be settled and suggested that I will not incur a higher taxable income. She also informed me that the loan is a private loan. XXXX XXXX said the debt is principal and interest only, which not true. She said that I have to agree and pay the $ XXXX settlement via ACH by XX/XX/XXXX, or the offer is null. She also informed me that they had attempted to mail letters to me in the past and had them returned, so she asked for a current mailing address which I gave. 

I told XXXX XXXX that I need to talk to my accountant, and she replied she would send the settlement offer via email and follow up with a call at XXXX. I received an email at XXXX from XXXX XXXX with an attachment showing the settlement offer. She called me at XXXX that day but I did not answer. At XXXX local time, I replied all to XXXX XXXX XXXX email, asking that they put into writing that XXXX is writing off the debt as " old debt '' which is why the offer of settlement is being made. 

The next day, XX/XX/2023, at XXXX local time I received a call from XXXX XXXX who left a voicemail that was transcribed ( see attached ). At XXXX, I replied all to XXXX XXXX , and told her that my counsel recommends I keep everything in writing and to correspond with me via email. 

At XXXX local time, I received an email from XXXX XXXX XXXX , stating that they revised the settlement offer letter include " full and final settlement and upon payment your account will be closed settlement paid with no further obligation. '' See attached. 

I replied all to XXXX . XXXX at XXXX, asking again to confirm that XXXX is writing off the loan and that any amount written off would be considered taxable income. I also inquired as to how that works, since there is no difference of paying off $ XXXX if the remaining amount is written off? I also inform XXXX . XXXX of the continual harassing phone calls to myself and my employers in a short period of time ( it was 3 or 4 phone calls within 30 minutes on Monday the XXXX ), and early morning call before XXXX local time on the XXXX from XXXX XXXX, which likely goes against CFPB regulation. I ended the email asking for written responses to emails, otherwise I would need to report them. I also ask that they prohibit any additional phone calls to my cell or office. 

At XXXX, XXXX . XXXX replied that " ... FAMS will cease all communication with you. '' He gave no answer to my questions in my previous email ( see attached ). 

At XXXX, I replied to XXXX . XXXX and all ( XXXX XXXX and XXXX XXXX ) that because they have not been forthcoming in answering questions as requested, I will be reporting them for harassment because they did not demonstrate any reason or cause to be collecting debt or harassing me to collect such alleged debt ( see attached ). 

At XXXX, I received two emails from FAMS regarding an attached e-notice document, which I did not open because I can not trust the tactics of FAMS ( Financial Asset Management Systems ). See attached.