Your phone buzzes – again. A Georgia number, or maybe an 800 line you don’t recognize. You pick up, and it’s First Financial Asset Management (FFAM) – pressing you about a debt you may barely remember, or one you’ve already dealt with. Maybe they’ve been texting you too, and you’re not sure if it’s even real. If any of this sounds familiar, you’re not alone, and you’re not helpless.
FFAM has faced federal lawsuits for sending letters with misleading tax information, continuing collection after consumers disputed debts, and calling after cease requests. Their certifications are real – but so are their violations. +1-844-638-1122 – call The Wood Firm PLLC for a free consultation if they’ve crossed a line with you.
Key Takeaways
- FFAM is a legitimate, RMAI-certified debt collector – but certifications don’t prevent FDCPA violations
- Four documented federal lawsuits include misleading tax letters, post-dispute harassment, and calls after cease requests
- They collect for banking, healthcare, and auto lending industries
- You have 30 days from first contact to dispute the debt in writing
- FDCPA violations can earn you up to $1,000 in statutory damages plus attorney fees
- The Wood Firm PLLC works on contingency – you pay nothing unless we win
Who Is First Financial Asset Management?
First Financial Asset Management – also known as FFAM, FFAM360, and 1FAM – is a debt collection and receivables management company founded in 2002, headquartered in Peachtree Corners, Georgia. They are not the same company as Financial Asset Management Systems (FAMS), a separate entity that sometimes appears in similar searches.
FFAM handles debt collection, debt buying, and portfolio management across banking, healthcare, and auto lending. They hold RMAI Certified Receivables Business status, BBB accreditation, PCI-DSS certification, and HIPAA compliance – a credentials list that makes them sound bulletproof. The Better Business Bureau tells a different story: 52 complaints in three years, 20 in the past year alone.
If you’ve been searching “Resolve First Financial” – that’s yet another separate company. FFAM’s identifiers are their Georgia address and the 800-542-8714 main line.
Contact information:
- Phone: (800) 542-8714
- Address: 3091 Governors Lake Drive, Suite 500, Peachtree Corners, GA 30071
- Phoenix office: 2700 N 3rd Street, Suite 1002, Phoenix, AZ 85004
- Website: 1fam.com
Is First Financial Asset Management a Scam?
No – FFAM is a real, licensed debt collection agency. But “not a scam” doesn’t mean every tactic they use is legal, and their impressive certification list hasn’t stopped them from appearing in federal court multiple times.
If you received a text message from FFAM and weren’t sure whether it was legitimate, that’s a fair reaction. Debt collectors increasingly use texts as a contact method, and it can look identical to a phishing attempt. A real FFAM text will reference a specific account and direct you to 1fam.com – if the link goes anywhere else, treat it as a scam and report it to the FTC.
For the legitimate contacts: verify the debt before paying anything. Their four documented lawsuits show a pattern of misleading communication and pressure tactics that their certifications clearly haven’t fixed.
Why Is First Financial Asset Management Calling Me?
FFAM purchases charged-off debt portfolios from banks, healthcare systems, and auto lenders – typically paying pennies on the dollar for accounts the original creditor has written off. Once they own the account, they collect the full balance. Every dollar above what they paid is profit, which creates obvious pressure to collect aggressively.
They also collect on a commission basis for creditors who haven’t sold the debt outright. Either way, they have a financial incentive to reach you – repeatedly, through multiple channels.
Common debt types they pursue include:
- Credit card balances from major banks
- Medical and hospital bills
- Auto loan deficiency balances
- Personal loans and lines of credit
- Telecommunications accounts
Just because they’re calling doesn’t mean you owe the amount they claim, or that the debt is even within the statute of limitations. Purchased debt portfolios frequently have documentation gaps, wrong balances, or accounts that belong to someone with a similar name. Request validation before doing anything else.
📞 Is First Financial Asset Management Harassing You?
Federal law protects you from abusive debt collection. You may be entitled to:
- Up to $1,000 per FDCPA violation
- Actual damages for emotional distress and lost wages
- Attorney fees paid by First Financial Asset Management if we win
✓ We work on contingency — You pay nothing unless we win
FREE Case Review: +1-844-638-1122
How to Stop First Financial Asset Management
There’s a reason their BBB complaints keep piling up – FFAM doesn’t stop easily on their own. These three steps give you real leverage.
1. Send a Cease-and-Desist Letter
Mail a written request via certified mail to 3091 Governors Lake Drive, Suite 500, Peachtree Corners, GA 30071, stating clearly that you want all contact to stop. Once they receive it, the FDCPA limits further contact to confirming cessation or notifying you of specific legal action.
The Shanoria case against FFAM alleged they kept calling after exactly this kind of request. Save your certified mail receipt. Every call after delivery is potentially a separate violation.
2. Request Debt Validation
Within 30 days of first contact, send a written validation request via certified mail. FFAM must provide the original creditor’s name, the exact amount owed, and proof they have the right to collect. Collection must pause until they respond adequately.
Given that they operate across banking, healthcare, and auto lending – sectors with complex documentation chains – validation requests are particularly important. If they can’t produce clean documentation, they may not have the right to collect at all.
3. Hire an Attorney (Fastest Solution)
Once FFAM knows you have legal representation, all contact must route through your attorney – not you. Harassment typically stops within 48 hours. An attorney can also identify violations you might miss and pursue compensation you didn’t know you were entitled to.
The Wood Firm PLLC has handled FDCPA cases against certified agencies like FFAM since 2010. We work on contingency – no upfront cost. Call +1-844-638-1122 to get started.
Can First Financial Asset Management Sue Me or Garnish My Wages?
Yes, FFAM can sue – but only if the debt is within your state’s statute of limitations, which typically runs three to six years depending on debt type and state. After that window closes, they can still try to collect but cannot successfully take you to court.
Wage garnishment requires a court judgment first. A threat of garnishment before they’ve sued and won is not legally enforceable, and making that threat may itself violate the FDCPA. If FFAM has threatened garnishment or arrest, document the exact language used – that statement could be the basis of a claim against them.
They can report collection accounts to credit bureaus, and that reporting can remain for seven years from the original delinquency date. But inaccurate reporting – wrong balance, wrong date, duplicate entries – is disputable under the Fair Credit Reporting Act.
How to Remove First Financial Asset Management from Your Credit Report
If FFAM appears on your Equifax, Experian, or TransUnion report, the seven-year clock runs from the original delinquency – not from when FFAM acquired or reported the account. That date matters, so verify it.
Dispute any inaccurate information in writing directly with each bureau. Given FFAM’s documented pattern of misleading communications in the Weinberger case, the information they reported deserves scrutiny. If the balance is wrong, the original creditor is misidentified, or the same account appears more than once, those are all grounds for dispute.
Pay-for-delete is negotiable but not guaranteed. Any agreement must be in writing from FFAM before any payment is made, specifying removal from all three bureaus. Do not pay first and ask for deletion afterward.
First Financial Asset Management Lawsuits
- Weinberger v. First Financial Asset Management, Inc. (2018): Proposed class action in New York alleging FFAM sent deceptive collection letters containing misleading tax information about debt forgiveness and 1099-C forms. Confusing tax consequence language in a collection letter may violate the FDCPA’s prohibition on deceptive communications.
- Jones v. Financial Asset Management Systems, Inc. (2018): Class action alleging the firm failed to clearly identify creditors in collection letters and improperly charged unauthorized fees.
- Shanoria L. v. First Financial Asset Management (2017): Alleged harassing calls after the consumer requested cessation. Settled in 2017.
- Chyba v. First Financial Asset Management, Inc. (2014): Debt collection complaint filed in the Southern District of California.
Note: The Ross case (2023) that appears in some FFAM articles actually involves Financial Asset Management Systems (FAMS) – a separate company. That case should not be cited as FFAM precedent.
How The Wood Firm PLLC Stops First Financial Asset Management
FFAM’s certification credentials work against them in court. RMAI certification means they know industry standards – so when they violate the FDCPA, it’s harder to argue it was accidental. Courts take that context seriously when awarding damages.
We’ve handled FDCPA cases exclusively since 2010, with an A+ BBB rating and Of Counsel relationships covering Arizona, California, Florida, Georgia, Minnesota, and eleven other states. We examine every communication FFAM sent, identify all violations, and pursue the maximum available compensation.
You pay nothing unless we win. If we prevail, First Financial Asset Management pays the attorney fees – not you.
⚖️ Has First Financial Asset Management Violated Your Rights?
Free Consultation • No Upfront Costs • First Financial Asset Management Pays Our Fees
Frequently Asked Questions About First Financial Asset Management
1. Is First Financial Asset Management a scam?
No – FFAM is a real, RMAI-certified debt collection agency. But legitimate doesn’t mean compliant. Four documented federal lawsuits and 52 BBB complaints in three years reveal a pattern of misleading communications and continued contact after consumers asserted their rights. Verify any debt before engaging.
2. What is FFAM360 or 1FAM?
These are operating names for First Financial Asset Management. FFAM360 and 1FAM (referencing their website 1fam.com) are the same company as FFAM. They are not the same as Financial Asset Management Systems (FAMS), a separate entity that sometimes appears in related searches.
3. Why is First Financial Asset Management texting me?
Debt collectors increasingly use text messages as a contact channel. A legitimate FFAM text will reference a specific account and direct you to 1fam.com. If the link goes elsewhere, treat it as a scam. Either way, don’t click payment links before verifying the debt independently.
4. Who does First Financial Asset Management collect for?
They collect for banks, healthcare providers, auto lenders, and telecommunications companies – both on commission for original creditors and as a debt buyer that purchases portfolios outright. They operate across the full credit lifecycle from early-stage accounts through charged-off debt.
5. What was the Weinberger lawsuit about?
A 2018 proposed class action alleging FFAM sent collection letters with misleading tax information about debt forgiveness – specifically around 1099-C forms. Confusing consumers about the tax consequences of settled debt may violate the FDCPA’s prohibition on deceptive communications.
6. Can First Financial Asset Management garnish my wages?
Only after suing you and obtaining a court judgment. Pre-judgment garnishment threats are not legally enforceable and may themselves violate the FDCPA. If FFAM has threatened garnishment before any lawsuit, document the exact language and call +1-844-638-1122.
7. Can I sue First Financial Asset Management?
Yes. Documented FDCPA violations – misleading communications, post-dispute collection, calls after cease requests – can result in up to $1,000 in statutory damages per lawsuit, plus actual damages and attorney fees. The Wood Firm PLLC works on a contingency basis, so you pay nothing unless we win. Call +1-844-638-1122 for a free case evaluation.
8. How do I remove First Financial Asset Management from my credit report?
Dispute inaccurate entries with Equifax, Experian, and TransUnion in writing. Verify the original delinquency date on any FFAM tradeline – the seven-year removal clock starts from that date, not from when FFAM acquired the account. Pay-for-delete is negotiable but must be confirmed in writing before any payment.
Dealing with a certified agency that has four federal lawsuits on its record is frustrating – especially when their compliance marketing makes it feel like you have no ground to stand on. You do. The Wood Firm PLLC has handled FDCPA cases against agencies like FFAM since 2010. We work on contingency; our FDCPA practice covers cases nationwide, and the consultation costs you nothing.
Call +1-844-638-1122 today. If First Financial Asset Management violated your rights, they pay our fees – not you.
