Your phone buzzes again, this time from a Georgia number you don’t recognize. It’s First Financial Asset Management, pressing you about a debt you barely remember or one you thought was already resolved. FFAM has faced four federal lawsuits alleging misleading letters, post-dispute collection, and calls after cease requests.
🔑 Key Takeaways
- First Financial Asset Management (FFAM) is a real, RMAI-certified debt collector, not a scam, but certifications don’t prevent FDCPA violations
- Documented federal lawsuits allege misleading tax letters, post-dispute harassment, and calls after cease requests
- FFAM collects for the banking, healthcare, and auto lending industries
- The BBB shows 52 complaints against FFAM in three years, including 20 in the past year alone
- You have 30 days from first contact to dispute the debt in writing
- The Wood Firm PLLC works on contingency, so you pay nothing unless we win
📞 Free Case Review: +1-844-638-1122
🏢 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. It was founded in 2002 and is headquartered in Peachtree Corners, Georgia. FFAM is 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. The company holds RMAI Certified Receivables Business status, BBB accreditation, PCI-DSS certification, and HIPAA compliance. Despite that credentials list, the BBB shows 52 complaints against FFAM in three years, with 20 filed in the past year alone.
A long list of certifications can make a company sound bulletproof, but certification is not the same as compliance. RMAI, PCI-DSS, and HIPAA credentials speak to data handling and industry membership standards. None of them independently verify that a specific letter, call, or collection tactic followed the FDCPA in your case.
In our practice, we request FFAM’s account-placement or purchase documentation on every file. That record shows whether the company actually owns or was assigned the debt, and whether the balance matches what the original creditor reported. A gap in that paperwork often becomes the first issue we raise.
- Also known as: FFAM, FFAM360, 1FAM
- 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
- BBB Profile: BBB accredited, with 52 complaints filed in the last three years
📞 What Is First Financial Asset Management Phone Number
FFAM’s confirmed main line is (800) 542-8714 / 800-542-8714 / 8005428714. If you’ve been searching “Resolve First Financial,” that refers to a separate, unrelated company, not FFAM.
FFAM increasingly contacts consumers by text message as well as by phone. A legitimate FFAM text will reference a specific account and direct you to 1fam.com. If a link goes anywhere else, treat it as a scam and report it to the FTC.
🤔 Why Is First Financial Asset Management Calling You
FFAM purchases charged-off debt portfolios from banks, healthcare systems, and auto lenders, often paying a small fraction of the balance. Once they own the account, they collect the full amount, and every dollar above their purchase price is profit. They also collect on commission for creditors who have not sold the debt outright, so either way, they have a financial incentive to reach you repeatedly.
- Credit card balances from major banks
- Medical and hospital bills
- Auto loan deficiency balances
- Personal loans and lines of credit
- Telecommunications accounts
A call from FFAM does not mean you owe the amount they claim, or that the debt is even within the statute of limitations. Purchased debt portfolios frequently carry documentation gaps, wrong balances, or accounts belonging to someone with a similar name. Request validation before doing anything else.
⚠️ Is First Financial Asset Management A Scam
No. FFAM is a real, licensed debt collection agency. Licensed does not mean every tactic is legal, and their certification list has not stopped the company from appearing in federal court multiple times.
If you received a text from FFAM and were not sure it was legitimate, that reaction makes sense given how often collectors’ texts resemble phishing attempts. Verify any contact before paying anything. Their documented lawsuits show a pattern of misleading communication their certifications have not fixed.
🚫 Is First Financial Asset Management Banned By The FTC
No. First Financial Asset Management has not been banned by the FTC. No federal enforcement action against the company is documented in current records, despite its multiple appearances as a defendant in private federal lawsuits.
The absence of an FTC ban does not mean FFAM’s practices go unchallenged. Private lawsuits, including Weinberger and Shanoria L., allege specific FDCPA violations tied to misleading letters and post-cease contact.
In our practice, we treat a missing FTC action as only one data point. Private lawsuits like Weinberger often surface a collector’s current letter templates faster than a federal regulator does. That evidence frequently matters more when building your own claim.
⚖️ Has First Financial Asset Management Been Sued
Yes. FFAM has faced multiple federal lawsuits alleging misleading communications and continued contact after consumers asserted their rights.
- Weinberger v. First Financial Asset Management, Inc. (2018, N.Y.): A proposed class action alleging FFAM sent deceptive collection letters containing misleading tax information about debt forgiveness and 1099-C forms.
- Shanoria L. v. First Financial Asset Management (2017): Alleged harassing calls continued after the consumer requested cessation. The case settled in 2017.
- Chyba v. First Financial Asset Management, Inc. (2014, S.D. Cal.): A debt collection complaint alleging FDCPA violations.
A separate case sometimes cited alongside FFAM, Jones v. Financial Asset Management Systems, actually involves FAMS, an unrelated company. That case should not be treated as FFAM precedent.
In our practice, we cross-check every FFAM letter against the tax-language issue raised in Weinberger and the post-cease contact alleged in Shanoria L. Those same patterns can still surface in current correspondence. That review often reveals which specific claim applies to your account.
📋 How Can You 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 date, not from when FFAM acquired or reported the account. Verify that date first.
- If the entry is inaccurate, dispute it in writing with all three bureaus, citing any wrong balance, misidentified creditor, or duplicate entry
- If the information seems misleading, reference the tax-language pattern raised in Weinberger when you document your dispute
- For pay-for-delete, get any agreement in writing from FFAM, specifying removal from all three bureaus, before you make any payment
Inaccurate reporting, including wrong balances, wrong dates, or duplicate entries, is disputable under the Fair Credit Reporting Act.
🛑 How Can You Stop Calls From First Financial Asset Management
FFAM’s BBB complaints keep accumulating partly because the company does not stop easily on its own. If you are receiving calls from (800) 542-8714 or texts referencing your account, follow these steps.
1. Send A Cease-and-Desist Letter
Mail a written request via certified mail to their Peachtree Corners, GA address. Once received, the FDCPA limits further contact to confirming cessation or notifying you of legal action. Save your certified mail receipt, since 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 of its right to collect. Collection must pause until they respond adequately.
3. Hire An Attorney
Once FFAM knows you have legal representation, all contact must route through your attorney rather than you directly. The Wood Firm PLLC works on contingency and offers a free case review before you commit to anything.
🤝 How The Wood Firm PLLC Helps Stop First Financial Asset Management Debt Harassment
FFAM’s certification credentials work against them in court. RMAI certification means they know industry standards, so when a violation occurs, it is harder to argue it was accidental. We examine every communication FFAM sent, identify the violations present, and pursue the compensation available.
We send a legal notice immediately after you retain us, and contact typically stops within 48 hours. You pay nothing unless we win, and First Financial Asset Management pays our attorney fees if we prevail. Call +1-844-638-1122 for a free consultation.
📣 First Financial Asset Management keeps calling, and you deserve answers. Visit our contact page or call +1-844-638-1122 for a free case review. The Wood Firm PLLC handles these cases on contingency, so if FFAM violated federal law, they pay our fees.
❓ Frequently Asked Questions About First Financial Asset Management
Is First Financial Asset Management a scam
No, FFAM is a real, RMAI-certified debt collection agency. Legitimate does not mean compliant, and documented federal lawsuits and BBB complaints reveal a pattern of misleading communications. Verify any debt before engaging.
What is FFAM360 or 1FAM
These are operating names for First Financial Asset Management, referencing their website 1fam.com. They are not the same as Financial Asset Management Systems (FAMS), a separate entity that sometimes appears in related searches.
Why is First Financial Asset Management texting me
Debt collectors increasingly use text messages as a contact channel. A legitimate FFAM text references a specific account and directs you to 1fam.com. If the link goes elsewhere, treat it as a scam and don’t click any payment link before verifying the debt.
Who does First Financial Asset Management collect for
They collect for banks, healthcare providers, and auto lenders, both on commission and as a debt buyer that purchases portfolios outright. They operate across the credit lifecycle from early-stage accounts through charged-off debt.
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. Document the exact language if FFAM has threatened garnishment before any lawsuit.
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, since the seven-year removal clock starts there, not when FFAM acquired the account. Pay-for-delete must be confirmed in writing before any payment.
✅ What Should You Do Next If FFAM Is Calling You
Request written validation before you consider paying anything First Financial Asset Management claims you owe. Verify any text message link goes to 1fam.com before you click it. If FFAM already violated federal law, contingency representation costs you nothing upfront. Call +1-844-638-1122 for a free case review.
Jeff Wood represents consumers exclusively, never creditors or collectors. He holds federal court admissions across 9 districts, including all courts of AR, CO, NM, and TX. He practices from Little Rock, AR.
