How To Deal With FBCS Debt Collection (2024 Guide)
FBCS is a legitimate debt collection agency, but you don't have to pay without validation. Always request debt verification, check for errors, and consider negotiating a settlement for less than you owe. If FBCS sues you, respond immediately to avoid a default judgment.
Respond to FBCSFBCS is a debt collection agency that works for clients across various industries. They collect consumer debts including car loans, healthcare bills, utility bills, student loans, and credit cards.
FBCS uses multiple collection methods to reach you. Phone calls and letters are their primary tools.
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Answer FBCS NowNo matter how FBCS contacts you, validate the debt first. You have rights and options when dealing with debt collectors.
What Is FBCS?
FBCS stands for Financial Business and Consumer Solutions. The company started as Federal Bond Collection Services in 1982.
FBCS is headquartered in Hatboro, Pennsylvania. They operate offices in New Jersey and Florida.
According to their website, FBCS typically collects debts on behalf of clients. Sometimes they purchase charged-off debts from original creditors. Either way, FBCS accepts payments directly through multiple channels.
You can pay online, by mail, by phone, or through MoneyGram.
Why Is FBCS Contacting You?
An original creditor may have hired FBCS to collect a debt you owe. Or FBCS may have purchased your debt outright.
The debt could be from various sources. Common debts include credit cards, medical bills, utility accounts, and personal loans.
Is FBCS Legit?
Yes, FBCS is a legitimate company. But many consumers have filed complaints against them.
The Better Business Bureau accredits FBCS with a B rating. Customer reviews show a 1-star rating out of 5. More than 100 complaints were submitted in the past three years.
The Consumer Financial Protection Bureau’s database shows over 450 complaints since 2011.
Common complaints include:
- Attempting to collect debts that don’t belong to the consumer
- Making false statements
- Threatening improper legal action
- Making harassing phone calls
- Improperly sharing information with third parties
Third-party debt collectors who engage in harassment violate the Fair Debt Collection Practices Act (FDCPA). You have the right to file a complaint if FBCS violates the FDCPA. You may also be able to sue for compensation.
If you’re dealing with aggressive collection tactics, our partner Solo can help you respond effectively and protect your rights.
How Do You Know If You’re Being Scammed?
FBCS is legitimate, but scammers may use their name. Criminals try to trick you into sharing personal information or sending money.
Watch for these red flags:
- Pressure to pay immediately
- Requests for payment via gift cards or wire transfer
- Threats of arrest or jail time
- Refusal to provide written verification
- Demands for bank account information
Always insist that debt collectors validate any debt they’re collecting.
Do You Have To Pay FBCS?
You may have to pay FBCS if three conditions are met. FBCS must be allowed to collect the debt. The debt must actually be yours. The debt amount must be correct.
Companies like FBCS contact thousands of consumers. Mistakes happen frequently.
Before you pay anything, make FBCS validate the debt. If FBCS can’t validate the debt, you don’t have to pay. You can tell them to stop contacting you.
If FBCS can validate the debt, you need to decide your next move.
Step 1: Send a Debt Verification Letter
FBCS must send you a debt validation letter. They must send it before or within five days of first contacting you.
The letter should include information about disputing the debt. You usually get 30 days to dispute.
Send a debt verification letter to dispute the debt. You can also use this letter to request more details about the account.
FBCS must stop collection efforts during the dispute process. They can’t contact you until they provide validation.
Step 2: Decide What To Do Next
After FBCS validates the debt, you have three options. You can dispute the debt, negotiate a settlement, or ignore the debt.
Ignoring the debt is not recommended. The consequences can be severe.
Option 1: Dispute the Debt
Dispute the debt if you disagree with the amount. File a dispute if you don’t believe you owe the debt at all.
Check your credit report when you dispute a debt. If FBCS is mistakenly collecting from you, your credit report likely has errors too.
The Fair Credit Reporting Act gives you the right to dispute incorrect information. Send a 609 letter to any of the three major credit bureaus: Experian, Equifax, or TransUnion.
Option 2: Negotiate a Debt Settlement
Paying the debt in full is the simplest solution. But full payment may not be realistic for your situation.
You can try to negotiate a settlement with FBCS. Many consumers settle debts for 40% to 60% of the original amount.
Debt collectors like FBCS only get paid when they recover money. Their revenue is a percentage of what they collect. They can still profit from a partial settlement.
FBCS may start the negotiation process first. You can accept their offer or counter with a lower amount. They may refuse, but attempting negotiation costs you nothing.
Can You Negotiate Every Past-Due Debt?
Many consumer debts are negotiable. Credit cards and medical bills typically qualify. Federal tax debts can be negotiated through a special IRS process.
Some consumer debts aren’t negotiable. Home mortgages and auto loans are secured debts. The creditor can repossess the property if you don’t pay. They have no incentive to negotiate.
Student loans are usually not negotiable. But you can explore student loan forgiveness programs if you’re struggling.
Option 3: Ignore the Debt (Not Recommended)
Ignoring the debt is technically an option. But it comes with serious negative consequences.
What Happens If You Ignore FBCS?
Ignoring FBCS could lead to several problems:
- Lower credit score
- Increased debt from interest and fees
- Risk of a lawsuit
- Possible wage garnishment
- Constant stress from collection calls
Unpaid debts fall off your credit report after seven years. But debt collectors can still try to collect even after that. If the statute of limitations hasn’t passed, you could face a lawsuit.
Some collectors sue even after the statute of limitations expires. They rely on consumers not knowing their rights.
Ignoring FBCS makes a bad situation worse. You have options to deal with this debt. Take action to protect your financial health.
Can FBCS Sue You?
FBCS could sue you, but it’s not likely. Lawsuits take time and money. Many debts FBCS collects aren’t worth the litigation cost.
FBCS also doesn’t usually own the debts they collect. The original creditor would need to authorize legal action.
Don’t assume FBCS won’t sue, though. Several factors affect their decision:
- The amount of the debt
- How old the debt is
- The applicable statute of limitations
- Whether a written contract backs the debt
- Potential winnings including interest and attorney fees
- How easily they can garnish your wages
If FBCS sues you, you’ll receive a summons and complaint. Service happens through mail or in person.
Respond to the complaint immediately. Not responding can result in a default judgment against you.
If you can’t afford a lawyer, our partner Solo can help you draft an answer for free or a small fee. They’ve helped over 234,000 people respond to debt lawsuits. They offer a 100% money-back guarantee.
Key Takeaways
FBCS collects consumer debts on behalf of original creditors. If FBCS contacts you about a debt, validate it first.
You have multiple options after validation. You can dispute the debt, negotiate a settlement, or respond to legal action.
Never ignore FBCS or any debt collector. Ignoring collection efforts leads to worse financial consequences. Take action to protect your rights and resolve the debt.