Financial Asset Management Systems: can they garnish wage?

I have dealt with them. They are a company that owns student loans. To be honest, they are VERY difficult to deal with. I've gotten into screaming fights with them on the phone because they make paying them difficult.

Good luck.

Yup it is very legal....you in default.....they can take it regardless of any payments made. You probably didnt start paying soon enough to be taken off the offset list.

FAMS does NOT own these loans...they work them on behalf of the guarantors and the Department of Ed.

I have been receiving calls from them for months about a debt owed by SOMEONE ELSE! Every time I call them or have my dad (who is much better at that sort of thing)do it for me, sometimes not so nicely and with lawsuit threats involved, and ask them to leave me alone because I am not the person they're looking for, they say they are taking my number out of their system, but clearly they are doing no such thing. We're on the point of involving lawyers, because I'm sick and tired of getting calls 3-7 times a week about someone else's debt, and legally, they can be sued for harassment because we've informed them that they are not contacting the correct person.

You need to send them a cease and desist in writing. If they violate that, then you can sue them.

I received a call from these people and then the phone call dropped. I called them back to figure out what was going on, they said they had nothing under my name or phone #, but if I'd like to give them my SSN and DOB they could pull my file. I am not going to give them that information, if they are who they say they are, they should be able to pull up any records they have with just my name. Furthermore, I'm 99% positive I don't have any outstanding debt, I haven't missed a payment in over 16 years on anything and then out of the blue, I get a call from these jokers. Kinda weird.

Yes, they can garnish your wages. Federal student loans can and will be garnished, the only thing that they cannot trump this garnishment is child support. You can requesting a hearing but 9 out of 10 times you will lose.

FAM does collect on other types of debts beside student loans

The Rehab program does work but you have to follow every detail, read the paperwork you have signed. Please keep in mind once you complete your Rehab program the debt is transferred to a new lender who incorporates your principal interest and any penalty into the new loan. So, you will be paying interest on interest and other fees if they were awarded.

If you don't want to call, send them an email...ask for no calls, dispute, ask for arrangements what ever you need....

Some of their biggest client is from Department of Educationstudent loan, credit card and other regular bills. They do garnish check; withdraw from yourchecking account sometime without your permission. The best thing if dohave account with them is money orders, western union and through the mail.
Why I said what I said is because I use to work for them along time ago on their student loan accounts and some of their practice I did not like that why am not with them .

I suggest that everyone read through all the posts on here. Some people do know what they are talking about. Others..Well uhm, pay your bills. I worked for FAMS once upon a time. While they are a horrid company to work for, I will vouch that they are legitimate. If they can verify your employment and you owe the department of Education, well you're fucked. If they call you about a different debt, and you believe that you do not legitimately owe that debt, call the original creditor and clear it up. It sounds like you are all wasting your time posting on here when you should be out collecting the money to pay on your defaulted student loans! Life isn't free!

How can this company call my cell phone out of the blue and start asking me questions.. Like what is my date of birth?
I answered with out thinking and the caller said I wasn't the person he was looking for. He said the person he was looking for has same name as my name. And I have a very unusual name.
How can I have my phone calls blocked from this phone number?
The phone number he called me from is 800 530-2609

Could you be the person they are looking for? It is often easier for a CA to ask birthday instead of social security number. Often they will call any same names they can locate to find the person they are looking for...it is called skiptracing and is totally legal.

The best thing for you to do is not answer a phone call from a number you don't know. If you don't answer they can't threaten you. I had FAMS call me for the first time today. I didn't answer the call and they didn't leave a message.

I've had other collection agencies call me in the past and threaten to garnish my wages. I tell them to go ahead and garnish my wages, because I don't work and I never will work. They get all pissed off and ask me how do I live? I answer very well thank you, lol.