Is First Financial Asset Management a Scam? What You Need to Know

Are collectors from First Financial Asset Management calling you? You need to know what you’re dealing with. First Financial Asset Management is a real debt collection company. But that doesn’t mean every debt they claim you owe is valid.

You have rights. You can verify your debt. You can negotiate a lower settlement. And you can protect yourself from harassment.

Here’s everything you need to know about dealing with First Financial Asset Management.

Who Is First Financial Asset Management?

First Financial Asset Management, also called FFAM360 Capita, buys and collects debts. The company handles every stage of debt collection. That includes pre-charge off contact, skip-tracing, bad debt collections, and legal action.

First Financial works with companies across multiple industries. If they contacted you, someone claims you owe money. The company was hired to collect that debt.

What Do Reviews Say About First Financial Asset Management?

First Financial Asset Management has dozens of consumer complaints on the Better Business Bureau website. The Consumer Financial Protection Bureau lists even more complaints.

Many complaints claim First Financial continued contacting people about resolved debts. Some people report receiving calls about debts they never owed. Others complain about aggressive collection tactics.

These complaints prove why you must verify your debt before paying anything.

How to Contact First Financial Asset Management

You can reach First Financial Asset Management at (404) 523-0411. Their toll-free number is (800) 542-8714. You can also use the contact form on their website or email info@1fam.com.

Their mailing address is 3091 Governors Lake Drive, Suite 500, Peachtree Corners, GA 30071.

Your Rights When Dealing With First Financial Asset Management

The Fair Debt Collection Practices Act protects you from abusive collectors. First Financial Asset Management must follow strict rules.

Debt collectors cannot:

• Call you more than once per day
• Contact you before 8 a.m. or after 9 p.m.
• Fail to identify themselves as debt collectors
• Contact your friends, family, or coworkers about your debt
• Threaten you with arrest for unpaid debts
• Use offensive or vulgar language
• Contact you after receiving a Cease and Desist Letter
• Refuse to validate your debt

If First Financial violates any of these rules, report them. Contact the Federal Trade Commission at 877-382-4357. You can also file a complaint with the Consumer Financial Protection Bureau at 855-411-2372.

What to Do If First Financial Asset Management Sues You

Getting sued by First Financial Asset Management? You need to act fast. Most states give you only 14 to 30 days to respond.

You must file an Answer with the court. An Answer is your official response to the lawsuit. It shows you’re willing to defend yourself.

Ignoring the lawsuit leads to a default judgment. Once that happens, you lose your chance to negotiate. First Financial can garnish your wages or freeze your bank account. The court may award them extra fees and court costs.

Don’t let that happen. Our partner Solo helps you respond to debt lawsuits quickly and correctly.

How to Verify Your Debt With First Financial Asset Management

Never pay a debt without verifying it first. Debt collectors sometimes make mistakes. They might contact you about someone else’s debt. Or they might claim you owe more than you actually do.

Request a Debt Validation Letter from First Financial Asset Management. Federal law requires them to provide this. The letter should include:

• The name of your original creditor
• The date of the original debt
• The original debt amount
• The current balance owed
• Dates and amounts of previous payments
• Proof that the debt belongs to you

Review the letter carefully. Check for errors in names, dates, or amounts. If something doesn’t match your records, dispute the debt in writing.

If First Financial cannot validate the debt, they must stop collection efforts. That gives you leverage if they sue you.

How to Negotiate a Settlement With First Financial Asset Management

Verified that the debt is yours? You can still negotiate a lower settlement. Debt collectors often accept less than the full amount. They want to avoid lengthy court battles.

Here’s how to negotiate effectively.

Start With a Lower Offer

Begin by offering 40% to 50% of the total debt. First Financial will likely counter with a higher amount. That starts the negotiation process.

Be prepared to settle around 60% to 70% of the original debt. Most collectors accept this range. It saves them time and court costs.

Use Settlement Tools to Your Advantage

Our partner Solo makes negotiating easier. You can send offers and receive counteroffers through their platform. Everything stays documented and organized.

The tool handles communication with First Financial Asset Management. You avoid uncomfortable phone calls. You keep a clear record of all negotiations.

Get Everything in Writing

Never accept a verbal settlement agreement. Always get the terms in writing before you pay anything.

The written agreement should include:

• The settlement amount
• The payment deadline
• Confirmation that payment settles the debt in full
• A promise to report the debt as paid to credit bureaus

Save all correspondence with First Financial Asset Management. Keep emails, letters, and payment confirmations. These documents protect you if disputes arise later.

Make Your Payment

Once you have a written agreement, make your payment. Use a method that provides proof of payment. A check or money order with tracking works well.

Never give First Financial direct access to your bank account. Avoid setting up automatic withdrawals.

What Happens After You Settle Your Debt?

After paying your settlement, request written confirmation. First Financial should send you a letter confirming the debt is paid in full.

Check your credit report 30 to 60 days later. The debt should appear as settled or paid. If it doesn’t, dispute the error with the credit bureaus.

Settling a debt does affect your credit score. But the impact is less severe than a default judgment. You can start rebuilding your credit immediately after settlement.

How to Rebuild Your Credit After Dealing With First Financial

Settled debts stay on your credit report for seven years. But you can start improving your score right away.

Pay all your bills on time going forward. Payment history is the biggest factor in your credit score. Even a few months of on-time payments help.

Keep your credit card balances low. Aim to use less than 30% of your available credit. Lower is better.

Consider a secured credit card if you’re rebuilding credit. These cards require a deposit but report to credit bureaus. They help you establish a positive payment history.

Common Questions About First Financial Asset Management

Can First Financial Asset Management Garnish My Wages?

First Financial can garnish your wages only after winning a lawsuit against you. They must obtain a court judgment first. Once they have a judgment, they can request wage garnishment.

The amount they can garnish depends on your state. Federal law limits garnishment to 25% of your disposable income. Some states have lower limits.

Will First Financial Asset Management Negotiate?

Yes, First Financial Asset Management often negotiates settlements. They prefer collecting something rather than nothing. Most debt collectors accept 60% to 70% of the original debt.

Your chances of negotiating improve if you can pay a lump sum. Collectors prefer one payment over payment plans.

How Long Can First Financial Asset Management Collect?

The statute of limitations determines how long First Financial can sue you. Each state has different time limits. Most range from three to six years.

After the statute expires, First Financial cannot sue you. But they can still contact you about the debt. And the debt still appears on your credit report for seven years.

Moving Forward After Dealing With Debt Collectors

Dealing with First Financial Asset Management feels overwhelming. But you have options. You have rights.

Start by verifying the debt. If it’s valid, negotiate a lower settlement. Get everything in writing before you pay. Then focus on rebuilding your credit.

Thousands of people successfully resolve debts with collectors every year. You can too.