Who is Financial Data Systems?
Financial Data Systems, LLC (FDS) is a debt collection agency located in Wilmington, North Carolina. They operate primarily within North Carolina, Texas, West Virginia, and surrounding states.
If FDS appears on your credit report, it indicates that a bill you haven’t paid has been handed over to them for recovery.
Who does Financial Data Systems collect for?
Financial Data Systems focuses on recouping past due debts for original creditors. These original creditors may span various industries such as healthcare, utilities, credit card companies, or retail businesses.
Is Financial Data Systems legit or a scam?
Financial Data Systems is a legitimate company. They are authorized to collect debts on behalf of their clients. However, it’s important to verify any debts they claim you owe before making any payments.
How can I remove Financial Data Systems from my credit report?
Collection accounts can impact your credit score for up to seven years, so it’s essential to address them promptly. To remove collections from your report, start by disputing any errors related to the account with the credit bureaus.
If the information is accurate, consider negotiating a “pay-for-delete” agreement, where you offer payment in exchange for the account’s removal. Another option is to work with a credit repair service that specializes in challenging collections.
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Financial Data Systems (FDS) Contact Information
Address:
Financial Data Systems
1638 Military Cutoff Rd
Wilmington, NC 28403
Phone number: (910) 392-2998 or (888) 950-7800
Should I contact or pay Financial Data Systems?
Before contacting a debt collector, verify that the debt is legitimate and accurately reported. Credit reports can contain errors or list debts that are no longer valid. Also, be aware that making payments on a debt can reset the clock and potentially harm your credit.
The most effective way to deal with Financial Data Systems is to work with a credit repair professional. They help remove millions of negative items every year from companies like Financial Data Systems on behalf of their clients.
Will Financial Data Systems sue me or garnish my wages?
While it is within Financial Data Systems’ rights as a debt collector to initiate legal action to recover a debt, this step is often considered a last resort due to the costs and time involved.
Financial Data Systems will typically make efforts to collect the debt through other methods first. This could include phone calls, letters, and negotiating payment plans. If these efforts do not result in payment and the agency chooses to sue, winning the lawsuit may give them the ability to garnish your wages or levy your bank account, though this is dependent on your specific state laws.
Financial Data Systems (FDS) Complaints
Many collection agencies have numerous complaints filed with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you are being harassed, consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). These rights include disputing credit reporting errors and being treated fairly and respectfully by debt collectors.
Your Rights When Dealing with Financial Data Systems
Debt collectors must follow state and federal laws. The Fair Debt Collection Practices Act (FDCPA) prohibits abusive, unfair, or deceptive practices and ensures your rights are protected:
- It is a violation of federal law for Financial Data Systems to report inaccurate or incomplete information about you.
- You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. They have 30 days to prove the debt is yours and the amount is accurate.
- Financial Data Systems cannot threaten or harass you, call repeatedly, swear at you, or publicly publish a list of debtors.
- Financial Data Systems must be honest about who they are and their purpose. They must notify you in writing and verbally that they are a debt collection agency.
- Financial Data Systems cannot threaten to have you arrested or imprisoned for unpaid debts.
Remove Financial Data Systems From Your Credit Report Today!
Credit Saint offers assistance with disputing Financial Data Systems collection accounts. With over 15 years of experience, they have worked with clients to address incorrect entries on credit reports.
If managing collection accounts feels overwhelming, working with a trusted credit repair company could be a helpful step toward improving your credit.
Visit their website or call (855) 281-1510 for more details.
