Financial Credit Services
Aka/ Portfolio Exchange

CONSUMER ALERT!     (July 18, 2008)
Warning:  Financial Credit Services is sending out

collection notices on Firstcard bank for accounts that

are more than 18 years old!  We do not know what level

of desperation FCS has sunk to in attempting to collect on

these old, out of statute debts. Consumers are warned that

this is a fraud. FCS cannot take legal  actions stated in their

letter. Do not fall for this consumer scam!

Web Address: www.fcsinc.biz/index.htm

847-963-1200        800-706-3401
Fax: 847-991-3462

Head Debt Collector:
Bruce Cohen President
President:   president@fcsinc.biz

Agent Name: Norman P. Goldmeier
Agent Street: Address: 5225 Old Orchard Rd. Ste #50
Palatine, IL 60018
(Click to Read) Illinois Attorney General Files Suit

Quick Analysis                         Consumer Comments Below

Here we go….AGAIN! Another disgusting bottom-feeder who apparently is paying a lot of attorney fees to deal with the onslaught of lawsuits filed against them by consumer attorneys, for violating federal laws.

To show you how ignorant these folks are, here is a quote from their website:

    Why pay voluntarily? The reason is simple. In almost all cases you will spend less time and far less money in the long run by resolving the debt yourself. At FCS, we always prefer to work with you to settle your bill in either a lump sum, or find a payment plan you can live with. Unlike a collection agency, we have purchased your debt and in a sense have made an investment in you.

I have no idea which debt collection school Bruce Cohen, President dropped out of, but I can state that his statement is so absurd that it not only shows his ignorance, it feeds the ignorance and illegal practices you apparently condone by your under-educated, overly caffeinated illegal and disgusting debt collectors.

From posing as attorneys, to making threats of wage garnishment and seizure to contacting third party’s , all typical of this illegal organization who is void of all licensing and bonding requirements that we could check. They are NOT members of the American Collector’s Association (smart move ACA) and appear to be headed on a collision course with more lawsuits for being STUPID!

“Unlike a collection agency, we have purchased your debt and in a sense have made an investment in you.”

HUH? Made an investment in you?? Bruce, I can’t believe you would make such a ridiculous statement! You ARE a collection agency Bruce, a VERY dumb collection agency BUT you ARE a collection agency. You have NOT made an investment in anyone except a chance to perhaps make a lot of money on the pennies you spent to purchase old, perhaps mostly worthless debts. The name we have for organizations such as yours Bruce Cohen is a… BOTTOM-FEEDER!

“Why pay voluntarily? The reason is simple. In almost all cases you will spend less time and far less money in the long run by resolving the debt yourself.”

Why pay at all? The debt may NOT even be legal, you certainly are NOT! I know a LOT of consumer attorneys who may find that suing you and your organization is a viable alternative to anyone paying you. You may even end up paying the attorney fees for all the illegal things you allow your collectors to do. I’m printing the name of your agent for service on lawsuits to make the job easier.

Bruce Cohen and Financial Credit Services is a joke! I advise anyone who is contacted by these idiots to tape all their calls (where legal) and to demand validation on all accounts.

CAUTION: I recommend you NEVER disclose your bank account or credit card information to a debt collector, as you risk them emptying your account, or maxing out your credit card. If you feel they are reporting on your credit bureau files in error or need assistance in dealing with them, email  the details w/your location.  Assistance and referral to a consumer legal specialist may be available. 

Email for Assistance 

  Comments from consumer emails.  Messages edited for brevity.

Consumers said... Financial Credit