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BBB Accredited Business since

FMS Investment Corp

Phone: (800) 605-9817 Fax: (800) 889-3002 View Additional Phone Numbers 1701 Golf Rd STE 2-150, Rolling Meadows, IL 60008 View Additional Email Addresses http://www.fmsdc.com


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Description

I3 Group is a loss mitigation company which assists students and schools in educating students about financial literacy and reducing the risks of students defaulting on their student loans. This company serves a national audience as well as customers throughout the Chicagoland area, including those in Evanston, Skokie, Niles, Lincolnwood, Lake Forest, Aurora, West Chicago, Wheaton, Tinley Park, Oak Park, Deerfield, Highland Park, Crystal Lake, Buffalo Grove, Elk Grove Village, Palatine, Brookfield, Rockford, DeKalb, McHenry, Warrenville, Joliet, Bolingbrook, Romeoville, and Schaumburg. Services available from this company include financial counseling, loss mitigation, student loan education, and defaulting prevention.


BBB Accreditation

A BBB Accredited Business since

BBB has determined that FMS Investment Corp meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that affect the rating for FMS Investment Corp include:

  • 45 complaint(s) filed against business
  • Length of time business has been operating
  • Response to 45 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

45 complaints closed with BBB in last 3 years | 23 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 17
Billing/Collection Issues 11
Delivery Issues 2
Guarantee/Warranty Issues 0
Problems with Product/Service 15
Total Closed Complaints 45

Customer Reviews Summary Read customer reviews

3 Customer Reviews on FMS Investment Corp
Customer Experience Total Customer Reviews
Positive Experience 1
Neutral Experience 0
Negative Experience 2
Total Customer Reviews 3

Additional Information

BBB file opened: November 10, 2005 Business started: 06/09/2009 in IL Business started locally: 01/01/1993 Business incorporated 10/14/2003 in IL
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Illinois Department of Financial and Professional Regulation
100 W. Randolph, 9th Fl, Chicago IL 60601
http://www.idfpr.com
Phone Number: (312) 814-4500

Type of Entity

Corporation

Business Management
Ms. Victoria Bochnik, Compliance Analyst Mr. Tom Ost, Client Service Manager Mr. Balaji Rajan, President
Contact Information
Principal: Ms. Victoria Bochnik, Compliance Analyst
Related Businesses
I3 Group LLC Ceannate Corp. AuthenticAid Inc. IonTuition, Inc.
Business Category

Collection Agencies Project Management Consumer Finance & Loan Companies Credit - Debt Consolidation Services Financial Services Collection Agencies (NAICS: 561440)

Alternate Business Names
Financial Management Systems FMS - Financial Management Systems FMS Collections

Customer Review Rating plus BBB Rating Summary

FMS Investment Corp has received 0 out of 5 stars based on 0 Customer Reviews and a BBB Rating of B.

BBB Customer Review Rating plus BBB Rating Overview

Additional Locations

  • 1701 Golf Rd STE 2-150

    Rolling Meadows, IL 60008

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

9/24/2016 Problems with Product/Service | Complaint Details Unavailable
9/7/2016 Billing/Collection Issues | Complaint Details Unavailable
9/2/2016 Problems with Product/Service | Complaint Details Unavailable
8/20/2016 Billing/Collection Issues | Complaint Details Unavailable
8/17/2016 Problems with Product/Service | Complaint Details Unavailable
8/16/2016 Billing/Collection Issues | Complaint Details Unavailable
7/9/2016 Billing/Collection Issues | Complaint Details Unavailable
7/9/2016 Problems with Product/Service | Complaint Details Unavailable
6/28/2016 Billing/Collection Issues | Complaint Details Unavailable
5/21/2016 Billing/Collection Issues | Complaint Details Unavailable
5/17/2016 Billing/Collection Issues | Complaint Details Unavailable
4/30/2016 Problems with Product/Service | Complaint Details Unavailable
4/1/2016 Billing/Collection Issues | Complaint Details Unavailable
3/25/2016 Problems with Product/Service
3/24/2016 Problems with Product/Service
3/24/2016 Problems with Product/Service
3/23/2016 Billing/Collection Issues | Complaint Details Unavailable
3/23/2016 Problems with Product/Service
3/18/2016 Problems with Product/Service
2/27/2016 Billing/Collection Issues | Complaint Details Unavailable
1/29/2016 Problems with Product/Service | Complaint Details Unavailable
1/10/2016 Billing/Collection Issues | Complaint Details Unavailable
11/16/2015 Advertising/Sales Issues | Complaint Details Unavailable
8/24/2015 Advertising/Sales Issues
6/29/2015 Advertising/Sales Issues
6/12/2015 Advertising/Sales Issues
6/1/2015 Advertising/Sales Issues
5/5/2015 Advertising/Sales Issues
4/28/2015 Advertising/Sales Issues
3/9/2015 Advertising/Sales Issues
2/10/2015 Problems with Product/Service
2/4/2015 Delivery Issues
12/12/2014 Delivery Issues
12/1/2014 Problems with Product/Service
11/4/2014 Problems with Product/Service
10/27/2014 Advertising/Sales Issues
10/22/2014 Advertising/Sales Issues
10/15/2014 Advertising/Sales Issues
9/30/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: FMS took federal tax refunds from 2013 & 2014, which in 1998 my tax refund was taken and was told at that time it was paid in full, at that time it was not this same collection agent. My orginal loan was close to 4,000 and I have paid a total of 15,000. I need these refunds back, my house is in forcloser and I am now divored and not receiving any child support from my X husband. I have 30 days to move out of our family home and have no where to go. If this money could be refunded to me asap, I would be able to find a place to rent. Please help!

Desired Settlement: refund of federeal taxes from 2013 & 2014, and make payment arrangements if needed. I'm on public aid and cant afford to allow this company to take my federal refunds.

Business Response: Initial Business Response /* (1000, 5, 2014/09/19) */ esponse for BBB Case# XXXXXXXX 1 message ******* ******** <*********@ceannate.com> Fri, Sep 19, 2014 at 10:01 AM To: ********* *******" <*******@chicago.bbb.org> Cc: ****** ****** ***** <*******@ceannate.com> Ms. ******* Attached is our response for the above referenced BBB Case#. Have a great weekend. Thanks, ******* ******** Jr. Compliance and Risk Management Paralegal CEANNATE Corp. **** W **** Rd Tower 2 ******* ******** IL XXXXX Office: ************ ext **** *********@ceannate.com

9/10/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Yet another collection agency that has me confused with another ***** ******. When we lived in ******** we had another agency trying to collect a debt and was making harassing phone calls. Ever since we have moved to ********* those calls, from another company now, have continued. We get at least one phone message from them each week and I consider it harassment. I spoke with a representative over the phone who wanted my social security number to confirm that I have no college dept. I told her that I would not give her my social security number and that I had paid off all my college loans in 2006.I would like these companies to get their information straight and quit calling me.

Desired Settlement: DesiredSettlementID: Other (requires explanation) I would like the Better Business Bureau to contact this company and file a harassment complaint of some sort. I would like a formal letter from the BBB sent to this company requesting that they quit calling my house.

8/4/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: July 3, 2014 my husband received a call at home and they left a message for me to return thier call to give them infomation about a **** ******* I did not return call as I do not know anyone by that name. July 10, 2014, received a call on my cell phone and they wanted to discuss a **** ****** and my relationship with him. I told the man that I do not know a **** ****** and asked how they got both my home phone and cell phone. They could not tell me how they got my numbers except that they were public record. I asked them to provide to me the record that associates me with **** ****** and they were not able to provide that. I again asked how my name became associated with **** ****** and all they could tell me was that it was in the record. Again I asked for which specific record and that could not be provided. Spoke with a supervisor, who again told me that they would put me on the Do not call list, so I asked if they were arbitrarily calling anyone that had the name ******* as that is my maiden name, but I have no one in my family nor do I know anyone named **** ******* Once again, no answers could be provided on how I became associated with a **** ****** and why they were calling me.

Desired Settlement: Poor business practices and I want to know how they got my name and why they associated me with this person.

Business Response: Initial Business Response /* (1000, 8, 2014/07/22) */ see attached

7/22/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: I received a call at work from a local number on or around June 19 (I can't recall the exact date). The man asked for me by name and asked me to verify my social. I asked what it was regarding and he wouldn't tell me until I verified my identity. He identified himself as Leonard B. and said it was regarding a business matter from Sallie Mae. I told him to speak to Sallie Mae's lawyers and to never call me at work again as I cannot take personal calls at work. He asked for a minute of my time, I told him I could not speak to him at work. He said but you never answer your phone. When this place calls me they do not leave a message, and they spoof local numbers. When I do a reverse lookup from my phone I see numbers to greenhouses. They are trying to trick me into answering the phone, and I've already spoken to Sallie Mae's lawyers regarding this matter. FMS is now the 7th collection agency to have this debt. Fast forward to today, July 2, 2014. I received an automated call AT WORK from FMS asking for me by name. This is not acceptable as I have asked them (repeatedly on the first call) to never call me at work. On top of these calls, they have not sent me anything in writing as they are required to do so after the first attempt to contact me.

Desired Settlement: I want this business to follow fair debt collection practices. 1. Do not call someone at work when they have asked you not to. 2. Do not spoof local numbers in an attempt to trick the debtor. 3. Identify yourself as a collection agency when asked to do so. 4. Send documentation in writing after trying to contact the debtor by phone.

Business Response: Initial Business Response /* (1000, 5, 2014/07/10) */ See attached scan document.

7/11/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Last month in MAY a negative collection was reported on my credit report from FMS investment corp in the amount of 5,880.00 It says the account was opened on 10/2014 I called to inquire about the debt. The phone # was wrong, I looked up the number and gave FMS investment corp a call. They said they could not find that I owed anything and had nothing in collections with them. They said it was possibly a student loan in default. I told her my student loans are through MOHELA and they are all current. National Student Loan Data System shows no loan of this amount and as I said my loans are all current. I asked why is FMS showing on my credit then. The rep said she didn't know. I asked if they could please remove it, she said they couldn't do it, I would have to contact the original creditor. What? It says FMS investment corp. and has no other information. They cannot validate or verify this debt, they have no information about it, yet they are still reporting on my credit report. This is seriously messing up my credit and I want it off of my credit report at all three major credit reporting bureaus. I do not owe anything in this amount. Either validate this debt or take it off of my report. Otherwise, they can expect to be sued for violating FDC.

Desired Settlement: They cannot validate or verify this debt, they have no information about it, yet they are still reporting on my credit report. This is seriously messing up my credit and I want it off of my credit report at all three major credit reporting bureaus. I do not owe anything in this amount. Either validate this debt or take it off of my report. Otherwise, they can expect to be sued for violating FDC

Business Response: Initial Business Response /* (1000, 7, 2014/06/17) */ see attached Initial Consumer Rebuttal /* (3000, 9, 2014/06/17) */ (The consumer indicated he/she DID NOT accept the response from the business.) I do not accept this response.I will provide proof that this alleged debt is inaccurate based on the proof FMS says that they can provide to verify/validate this debt. This is not a refusal to pay the debt if it is owed. However, my records indicate all of my student loans and debt from the school are up to date and being paid. Final Business Response /* (4000, 12, 2014/06/30) */ RE: BBB Complaint Case# ******** (Ref#XX-XXXXXXXX-XXXXXXXX-XX-XXXX) 1 message ******* ******** <*********@ceannate.com> Fri, Jun 27, 2014 at 3:04 PM To: ********* *******" <*******@chicago.bbb.org> Cc: ****** ****** Jr." <*******@ceannate.com> Ms. ******* Attached is our response to the above referenced case. Thanks, ******* ******** Compliance and Risk Management Paralegal CEANNATE Corp. **** W **** Rd Tower 2 ******* ******** ** XXXXX Office: ************ ext **** *********@ceannate.com www.ceannate.com

5/13/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: On April 03, 2014 FMS called my work and asked to speak to me. Without explanation they asked me to confirm my name, which they had correct, then they asked me to confirm if 4 random numbers were the last 4 digits of my SSN. I refused to provide them with this information and asked them the purpose of their call, to provide me information about their business, their address, and other identifying information. They refused and told me they could not explain why they were calling unless I provided them my social security number. I refused and hung up. Then without my permission, they called and got connected to my CFO and without explanation asked him to confirm that 4 random numbers were the last 4 digits of my social security number. He informed them that the numbers they were listing were not the last 4 digits of my social security number, and asked them to hold on the line so that he could conference call me. They refused to hold on the line and explained that they must have gotten the wrong information. It appears as if FMS attempts to recover unpaid debts primarily for student loans. I have never taken out a student loan, and currently have no outstanding debts. Their demeanor on the telephone, and actions in contacting my CFO without my knowledge or permission led me to believe that this was an identity scam which I have reported to the Rolling Meadows Police Department. Further investigation has led me to the conclusion that FMS is an established business entity, however, their actions in failing to properly identify themselves when seeking highly sensitive personal information, failing to properly identify the individual they were targeting, and calling my CFO without my knowledge and permission have caused me undo stress, and hardship at work.

Desired Settlement: I want a written acknowledgment from FMS that I owe no money, and that they were seeking collection from a different David Gallagher. I want a written apology from FMS for causing me undo stress and problems at work. I want FMS to change their practice of failing to identify who they are and why it is they are calling and seeking sensitive and personal information. I want monetary compensation in the amount of $500.00 for the time I have had to spend reporting FMS' actions, and explaining this to my boss.

Business Response: Initial Business Response /* (1000, 9, 2014/05/07) */ see attached Initial Consumer Rebuttal /* (3000, 11, 2014/05/09) */ (The consumer indicated he/she DID NOT accept the response from the business.) While the business admits that it was attempting to find information on a different person, they do not acknowledge that I owe no debt, they make no apology for their rude and intrusive behavior, and they take no responsibility for the harm they have caused. I hope that the BBB gives this business a negative rating, because that is what it deserves.

4/4/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: This company is harasseing me an my wife for a loan that does not belong to me. They call all hours of the day.I have told them many times they have the wrong person and have also filed a police report. Any help you can give we would be thankful for.

Desired Settlement: DesiredSettlementID: Other (requires explanation) We would like them to stop calling.I do not owe this money.Please take my name off there papers.

Business Response: Initial Business Response /* (1000, 10, 2014/03/24) */ see attached response


Customer Review(s)

The customer review(s) below are un-filtered. These positive and negative reviews are not used in the calculation of the BBB Rating. If you wish to file a complaint and request a resolution to your issue please click here. This customer review section is not BBBs complaint resolution system. Customer Reviews are the subjective opinion of the individual who posted the review and not of Better Business Bureau. A customer review is not posted on a business if a BBB complaint on the same issue(s) is also filed. BBB cannot guarantee the accuracy of any customer review and is not responsible for the content of any customer review. Public comments are not customer reviews.

Customer Reviews Summary

3 Customer Reviews on FMS Investment Corp
Neutral Experience (0 reviews)
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