Has any one heard of FMS Inc?

Calm down Luke, you'll work this out.
I don't think you can include student loans in bk plans, 7 or 13.
First thing you need to do is validate the debt. Once you do that, you need to figure out what arrangements will work for you and them.

Thanks finsfan13, its just I thought it all was over, and just within the hour....they want over $6,000 for a 1985 student loan that was $2,500 and has changed so many hands over the years and I know that I paid at least morer than what they are asking now. They said I have 30 days to ask to validate, but it has changed so many hands...the last time I checked/paid it was with an attorney in Chicago who accepted payments and then I went bankrupt, and I never heard from them again. Now its with Accord One Student Loan Trust and or Accts Trans From Hubba with the guaranty agency called HEAF with the collection agency being FMS Inc. I have no ideal who these people are and why they want so much. I really donkt know if I can do this agian, im so tired.

You CAN do this, and you WILL. validate the debt right away, and we'll help you go from there. You can do it.

Ok, im just so nervous, I cant find a validation letter on site, I can barley type.

debt collectors hound the innocent: http://www.boston.com/news/local/articles/2006/09/13/debt_collectors_hunt_the_innocent/

Rip off Report; FMS: http://www.ripoffreport.com/reports/0/194/RipOff0194993.htm

More consumers about FMS: http://www.my3cents.com/showReview.cgi?id=6695&wrapper=

Wow Anthony...excellent information. Hold tight Luke...we are here for you. Post what you need and we will figure out a way to get it to you...any help at all...

thanks anthony, at least I know Im not alone in this new battle.

I posted a good part what the letter said in another thread just a few moments ago.

I hope some one reads it. I have a feeling this is going to be a long fight.

Maybe it will be, but you will do it. We're always here for you.

on another thread just a moment ago, I posted some of the letter they sent me finsfan13, hope you can read it and let me know what you think.

Luke, I read it. Please please please get a validation letter out Monday. You need to find out why the amount keeps going up. Maybe you will be able to dispute some of it. Your first step needs to be that letter right away, though. I can't stress enough how quickly you need to do this. If you don't, you could end up being garnished, and then it will be more, because they will add court and filing fees. I'm not trying to scare you, I am trying to stress the importance. You don't need to be afraid. You can be concerned, but not afraid. Yes, it's a large debt, but validating will buy you some time, show them you want to take care of it, and let you get your case together. It will be ok, I swear.

Thanks fins, your an angel. I just cant locate a validation letter here, I just cant think. Is there a thread I could use?

You should find our for sure if student loans can't be included in a BK...do you still have the BK info? The lawyer who did it for you? You should ask them.

Definately DV while you find out that info and make sure they have everything in order..I don't see how it could have gone up that much legally.

I didnt include this in the chapter 7, but I did have to tell the attorney that I was paying my student loan through that I was filing and for some reason, after that in 2003, I never heard from that attorney that I was paying for the student loan. They where not included in it, but was informed of the same.

I really need someones advise on this. I know its the weekend and everyone is busy. Thank you.

Here is a copy of a dv letter Luke:

Quote:

Thanks Ang, you are one of my guardian angels, and I love you.

YAY! Luke, send it out right away!! Get it together today and have it ready to go Monday.You need to send it out certified and have the receipt sent to you.

I paid off a debt with them not long ago and had no problem with them whatsoever. I received a notice on a charged-off debt that I knew was mine. They validated it properly and were very good with setting up a payment plan. I worked with one primary person there who was very pleasant...Mike Curry. They also very promptly sent me a paid in full letter and the debt reads paid in full on my credit report. I don't know about other's experiences, but they were very good to me.

That is good news! Thanks for sharing that, it can definitely give Luke hope.

Ya know i always wonder how it is that CA's decide "WHO" to be nice to and work with and who NOT too?!?! My hubby had dealings with a CA who is on bud hibbs worst list and he was gonna settle with them (on a medical) but wanted it PIF. They refused so he told them he'd just pay for it in full so it could be reported that way... Long story short, they ended up taking the settlement and listing it PIF and he gave them our banking acct info and they just took out the settled amt and we never heard from them again. :shock: (this was BEFORE i found DCC)
I'd just like to know how they choose who to be nice too and who to jerk around!
;)
Ang

I think it depends on what time of the month it is, Ang.

U mean like for meeting quotas and such?
Ang

I wonder what address on this FMS Inc letter that I should send the validate letter too. There is 4 address. Should I just send it to the one that I would make my payment to? Also, should I send a copy of the letter they sent me along with my validation letter? Thanks for all your help.

No Ang..That's not what I meant. :D Think about it.

Finsfan13, Im going to send out this letter tommorow or Tues (might have to work late Monday) cc/rr but was wondering if you can see my post just up from this one about what address, and mailing a copy along with it? Sorry for being pushy, I just want to do it right.

You are not being pushy, you are concerned! That is fine!
I would send the letter to the addy you make payments to, but if you don't feel comfortable with that, give them a call and ask them for the address that they receive correspondence at. You don't need to explain yourself or go into detail, just ask that. even if you call them today, there may be an automated message where you can push a number to hear their mailing address. Worth a shot! Anyway, I think it would be fine to include a copy of the letter.
You'll be ok Luke! You're being proactive!

Thanks a bunch finsfan13, I have a great letter now, and I will include a copy of their letter and mail this Monday or Tuesday to the payment address. Here I go again, in for another victory.

Good for you! :D With that attitude there is no way you'll go wrong! keep it up...And make sure you keep us updated, you know we are always here for you.

thanks, I will.

Just a note..I have recently went through some of the same hassels with my student loans. Over the period of 2years I have gone through 7....yes 7 creditors who bought my loan.
When I asked how it was that my debt kept going up instead of down I was told that each time the debt is sold the agency selling it tacks on their own fee.
for example...so that they make a minimum of a 25-50 profit on small collections. Hence the cost of that loan keeps going up everytime it is sold no matter how hard u try to pay it down.
Not sure if that helps, but that was the information I was given. I was also told that in some areas it is illegal for a debt that has been sold multiple times to be charged over a certain percentage for collection fees. in other words once it reaches a certain dollar amount and has been soldx amount of times it can go no higher.

Wow, thanks i2bcsi I did not know that it cant go higher after a certian amount. It is about 23 years old this student loan and has been through 3 or 4 collections, attorneys. It was only $2,500 dollar student loan and now after paying over 3 or 4 thousdand, they still want over $6,000 more. This is nuts. Im going to send off a validation letter, and I wonder if I should send a copy of everything to my States AG and to Tulsa OK AG, that is where FMS Inc. is at?

Luke. that is the information I was given after my loans had been sold numerous times. I was told that at this point in time I was responisble only for the original debt and a collection fee. I was not responsible for the thousands all these companies had tried to add on. They also said it varied by state etc.
But are these federal student loans? or private student loans? that you are dealing with?

It was a federal student loan through a bank. I got the loan in Il for a school in Saint Louis, Mo.

I'm sorry to hijack ur thread Luke!! :( I'd agree with fins and mail it to the address that wants payment!!
Good Luck and keep us updated!
Ang

Ang, thank you for your advise and help,concern. Always gald your there. I will mail it to the payment address. Im thinking about mailing copies to my AG and their AG, but I think I will wait for a response, what do you think?

Well my honest opinion is this: I dont think they'll respond!! Cuz i can't imagine they can justify all those added on charges! But hey, that's just my opinion!! Also if i were u, i'd add in a cease and desist along with my dv.... just to cover urself for future harassment....
Just get it out and wait n see what happens... (this is the part i hated, the hurry up n wait!) I'm not a very patient person! :shock:
Much luck Luke,
Ang

Thanks Ang, Ill let the AG thing go for awhile untill I hear from FMS Inc. I added the cease and desist, do not call, etc. Thanks again Ang.

I don't think they can legally charge anything else, the only thing they can get away with is if the original contract allows for a certain percentage interest, but even if that is the case it will be a reasonable interest rate and they have to prove it.

Honestly, you should speak to a lawyer with this one. I have student loans too and I was told that only the feds can garnish you for it...if it is in the hands of a CA they can't, at least not the 'automatic' garnishment....because if it is in the hands of a CA, bought off mind you, then it was written off by the gov loan people and sold to a CA...they no longer care about it.

Yes if it is federal you need to talk to department of education there are several federal programs, deferals etc for those loans. Sorry it took a bit to get back to you I was looking for the information on my fed loan and who to contact for problems with payments. As soon as i find the contact number I will send it :)
Hang in there :)

Thank you goldenbast, your help is invauluable. i2bcsi, I thank you also and I will be right here.

Luke, I read your quick message and here is my two cents.Federal loans have no sol and cannot be discharged in a bankruptcy as far as I am aware of. First validate the debt but do not send them a full cease and desist as they can start administrative wage garnishment. Contact the ombudsman with the department of education to get the correct info on your loan and the procedures needed to rehab the loan to cure the default.While waiting read over the stickies in our student loan section.

Ok, thank you cajunbulldog. It never went into a chapter 7, my bankrupcy attorney in 2003 just sent a notice of the same to the attorney/law firm, who bought the loan, it never was included, but for some reason that was the last I heard of this, 2003, untill a few days ago.



cajunbulldog, Who is ombudsman?

I wouldn't think they would start garnishment, though, unless you have defaulted on an arrangement with THEM. You say this is a different company than the the one you paid a few years ago? Or is it the same CA? If you set up arrangements, make sure you keep them. Seriously. On a debt this size, regardless of whether it's fed or consumer, one false move and the creditor will start garnishment procedures right away. And Cajun, you are right, you can't put a student loan into a bk.

Ok, please, it never went into a bankrupcy!

Relax, we are trying to help you! You had said earlier that you weren't sure, so we are just making sure we have our facts straight. It's ok! :D

I know, sorry. But from the begining, I said it never went into a bankrupcy. The last I heard of it was in 2003 when I filed a chapter 7 and before that I was paying on it through an attorney who picked it up. what a mess, Ill be fine and thank you for your help.