First Financial Asset Management (FFAM) markets itself as RMAI-certified with PCI-DSS and HIPAA compliance. The 2018 Weinberger lawsuit exposed misleading letters with confusing tax information. The 2023 Ross case revealed harassment after debt disputes. If they’ve violated your rights, federal law entitles you to $1,000 in damages. Call The Wood Law Firm at +1-844-638-1122.
Who Is First Financial Asset Management
First Financial Asset Management (FFAM) is a comprehensive credit lifecycle management company managing debt collection, debt buying, and portfolio sales. They hold Certified Receivables Business status with RMAI, BBB accreditation, PCI-DSS certification, HIPAA compliance, and SOC-1/SOC-2 audit certifications.
Operating since 2010, the Better Business Bureau reports 52 complaints in three years and 20 in the last year alone, revealing consumer dissatisfaction despite compliance certifications.
- Corporate HQ: 3091 Governors Lake Drive, Suite 500, Peachtree Corners, GA 30071-1135
- Offices: 3091 Governors Lake Drive, Suite 100, Peachtree Corners, GA 30071 | 2700 N 3rd Street, Suite 1002, Phoenix, AZ 85004
- Phone: +1-800-542-8714 | Website: https://1fam.com/
Is First Financial Asset Management a Scam
First Financial Asset Management (FFAM) is not a scam. It’s a legitimate, RMAI-certified business. However, certifications don’t prevent FDCPA violations.
Violation patterns despite certifications:
- Misleading letters with confusing tax information (Weinberger 2018)
- Continued collection after debt disputes (Ross 2023)
- Calls after cease requests (Shanoria 2017)
- Possible registration violations (Lawrence, Utah case)
- Excessive calls despite customer-centric claims
- Third-party disclosures violate privacy
- False threats of legal action
Their comprehensive lifecycle data and security certifications should enable legal compliance, yet federal lawsuits prove otherwise.
What Is Lifecycle Management in Debt Collection
Lifecycle management in debt collection means handling accounts from initial credit extension through final recovery, including early account management, mid-stage collection, aggressive late-stage tactics, debt buying from creditors, and portfolio sales.
First Financial Asset Management (FFAM) uses this comprehensive approach across banking, healthcare, and telecommunications industries. Their complete consumer credit history access should enable compliant communication. However, the Weinberger case proved they sent confusing letters, and the Ross case showed they ignored debt disputes.
Their PCI-DSS and HIPAA certifications cover data security, not communication ethics, creating a false impression of comprehensive compliance.
Lawsuits Against First Financial Asset Management
- Weinberger v. First Financial Asset Management, Inc. (2018) – Class action alleging misleading debt collection letters with confusing tax information about debt forgiveness
- Ross v. First Financial Asset Management (2023) – Continued debt collection and harassing calls after the debt was disputed
- Shanoria L. v. First Financial Asset Management (2017) – Harassing calls after plaintiff requested cessation, settled in 2017
- Lawrence v. First Financial Investment Fund LLC (Utah) – Debt collection without proper state registration
We’ve helped clients stop harassment from agencies like Asset Recovery Solutions with similar tactics.
How to Stop First Financial Asset Management Harassment
1. Document Everything: Record dates, times, phone numbers, and summaries. Save letters with tax information or debt forgiveness language (Weinberger pattern).
2. Dispute Debt in Writing: Send a written dispute within 30 days. Ross case shows they may continue after disputes, so use certified mail to 3091 Governors Lake Drive, Suite 500, Peachtree Corners, GA 30071-1135.
3. Send Cease Request: Order them to stop all contact via certified mail. Shanoria’s case proves they may violate this.
4. Challenge Misleading Tax Information: Document confusing tax consequence language in letters. The Weinberger case establishes that this violates FDCPA.
5. Verify State Registration: Check if they’re properly registered in your state. The Lawrence case shows possible registration violations.
6. File Complaints: Report to the Consumer Financial Protection Bureau and the state attorney general.
7. Contact The Wood Law Firm: Call +1-844-638-1122. We work on contingency.
We’ve stopped harassment from FBCS and First Credit Services using similar methods.
How to Remove First Financial Asset Management from Your Credit Report
1. Challenge lifecycle data accuracy: Their comprehensive credit management should mean thorough documentation. If they report inaccurate information, this contradicts their expertise. Dispute with Equifax, Experian, and TransUnion.
2. Leverage dispute violations: If they continued collection after your dispute (Ross pattern), include this in bureau disputes. Collectors ignoring disputes can’t be trusted for accurate reporting.
3. Use misleading communication evidence: If they sent confusing tax letters (Weinberger pattern), argue their communication problems extend to credit reporting.
4. Question registration status: If they lack proper state registration (Lawrence issue), they may have no authority to report debts.
5. Demand comprehensive validation: Their lifecycle system should contain complete documentation. If they cannot provide it, argue unreliable reporting.
Similar strategies helped clients dealing with debt collection remove inaccurate accounts.
How The Wood Law Firm Helps Fight First Financial Asset
The Wood Law Firm holds certified businesses accountable when they violate consumer protection laws.
We challenge certification as credibility:
- RMAI certification means they know industry standards
- When certified businesses violate FDCPA, violations are willful, not accidental
- Courts view experienced, certified collectors’ violations more seriously
We expose a comprehensive data advantage:
- Lifecycle management means a complete consumer credit history
- Misleading letters (Weinberger) with their data access are intentional violations
- Ignored disputes (Ross) despite comprehensive systems showing deliberate misconduct
We leverage multiple case precedents:
- Weinberger (misleading tax letters)
- Ross (post-dispute harassment)
- Shanoria (post-cease calls)
- Lawrence (registration violations)
- Pattern across different FDCPA provisions
We file strategic complaints:
- Consumer Financial Protection Bureau scrutinizes certified businesses
- Federal Trade Commission investigates RMAI-certified violators
- State regulators investigate registration compliance
We pursue maximum damages:
- Statutory damages up to $1,000
- Actual damages for emotional distress
- Full attorney fees paid by First Financial Asset Management
The Fair Debt Collection Practices Act applies equally to certified and uncertified collectors.
We’ve recovered damages for clients facing tactics from debt collectors with certification marketing.
You pay nothing out of pocket. Call +1-844-638-1122 for a free evaluation.
Compensation for First Financial Asset Management Violations
You may recover:
- Up to $1,000 per lawsuit in FDCPA statutory damages
- Actual damages for emotional distress
- Damages for misleading communications
- Damages for post-dispute collection
- Damages for calls after the cease request
- Full attorney fees and costs
When certified businesses with comprehensive data violate rights, courts recognize willful violations by sophisticated actors.
Client Success Stories
A consumer received letters with confusing debt forgiveness tax language. Misleading communication violated FDCPA. Legal intervention secured a settlement using the Weinberger precedent.
A debtor disputed the debt with certified mail proof. The agency continued calls for months. Post-dispute harassment proved FDCPA violations. The client recovered damages using the Ross precedent.
A collector called after written cease request. Despite customer-centric claims, calls continued. Post-request contact secured damages under the Shanoria precedent.
Frequently Asked Questions
1. What was the Weinberger case about?
The 2018 Weinberger v. First Financial Asset Management class action alleged misleading debt collection letters containing confusing tax information about debt forgiveness, violating FDCPA deceptive communication prohibitions.
2. What happened in the Ross case?
The 2023 Ross v. First Financial Asset Management case alleged continued debt collection and harassing calls even after the debt was disputed, violating consumers’ rights to dispute debts.
3. Does RMAI certification mean they won’t harass me?
No, RMAI certification demonstrates industry recognition but doesn’t prevent FDCPA violations. Multiple federal lawsuits prove certified businesses can violate consumer rights.
4. What is lifecycle management?
Comprehensive credit cycle handling from early account management through aggressive late-stage recovery, debt buying, and portfolio sales, giving them a complete consumer credit history.
5. Can they call me after I dispute the debt?
No, they must cease collection activity until providing debt validation. The Ross case shows First Financial Asset Management may violate this, creating FDCPA violation grounds.
6. What if their letters contain confusing tax information?
Document immediately. The Weinberger case established that confusing tax consequence language in collection letters violates the FDCPA. Contact The Wood Law Firm at +1-844-638-1122.
7. Can I sue First Financial Asset Management despite their certifications?
Yes, RMAI certification and compliance credentials don’t exempt them from FDCPA. Multiple federal lawsuits prove certified businesses can be held accountable for violations.
Call +1-844-638-1122 now for a free consultation.
