How To Remove FMS Inc. From Your Credit Report
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Is FMS Inc. bombarding you with phone calls and letters?
When a missed payment goes into collections, it can make your daily life stressful and wreak havoc on your credit score.
Whether it’s for a $50 cable bill or a $5,000 hospital bill, a collections entry will stay on your credit report for seven years.
But getting an entry from FMS Collections off your report could be easier than you think.
Using the strategies outlined below, you can say goodbye to debt collectors and get your score back on track.
What Is FMS Inc.?
FMS Inc., or FMS Corp, is a third-party debt collection agency headquartered in Tulsa, Oklahoma. The agency also has a location in Boise, Idaho.
All in all, the agency is completely legit.
FMS Inc. collects on a wide range of debts from several industries, including:
- Financial services
- Retail cards
- Bank cards
- Check recovery
- Medical debt
- Commercial debt
How Does FMS Corp Work?
When you fail to repay a debt, whether it’s a medical bill, student loan, or credit card balance, it eventually enters collections.
At this point, companies turn to debt collectors, either:
- Paying them to assist with their collection efforts, or
- Selling them the debt for pennies on the dollar.
FMS Inc. works in both capacities, assisting with first-party collections and purchasing debts from businesses.
In both instances, once your debt reaches this stage, a collections entry is placed on your credit report.
This type of entry can lower your score by a few points or far more significantly depending on the age of your debt, the amount you owe, and other factors in your report.
It also stays on your report for a total of 7 years, even if you pay FMS Inc. as requested.
Along with the negative effect on your credit score, FMS can make life stressful with frequent phone calls, recordings, and letters.
Below, we’ll explain how you can get the agency off your report promptly and stop their incessant phone calls.
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3 Strategies to Get FMS Inc. Removed from Your Credit Report
Now that you know who FMS is and how debt collection works, here are a few strategies to help you get the collections entry deleted from your credit report.
- Ask for debt validation
- Pay FMS Corp to delete the entry
- Get help from a credit repair company
1. Ask for Debt Validation
Has it been 30 days or less since FMS Inc. has contacted you about your debt? If so, you can dispute the collections entry, according to the FDCPA.
All you’ll need is a quick debt validation letter, which lets the agency know you’d like documentation of the debt they’re attempting to collect.
This might include basic information such as the service provider or lender’s name and your account number.
If you’ve been targeted as the result of a reporting error or identity fraud, this approach should clear things up.
But even if FMS Inc.’s claim is a legitimate one, debt validation is worth a shot.
Third-party collection agencies don’t always retain the proof needed to collect on a debt.
If they can’t furnish adequate proof of the debt, the collections entry will be dropped from your credit report.
2. Pay FMS Corp to Delete the Entry
Debt validation is a go-to strategy, but it isn’t always effective. If it’s been more than 30 days since FMS Inc. contacted you or the agency was able to validate your debt, you may need to make a payment.
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Many consumers don’t realize that just paying a debt collector, even the full amount you owe, will not result in the deletion of the collections entry from your report.
To get FMS off your credit report, you have to get them to agree to have the entry deleted, entering into a pay-for-delete agreement.
The best part of this strategy is that you should be able to negotiate a reduced payment. Since collection agencies buy debts at such a discounted rate, they’re often willing to take a smaller payment to settle debts.
For this approach to be most effective, you should negotiate with FMS in writing and avoid coming to an agreement over the phone.
That way, whatever agreement you reach is spelled out clearly.
Pro tip: Use a free credit monitoring service like Credit Karma to watch your score after you reach an agreement and make a payment.
It should be updated within a month of your payment. If you don’t see any changes, you should reach out to FMS Inc. and potentially the credit bureaus.
3. Get Help from a Credit Repair Company
If you’re worried about contacting FMS Inc. on your own, you may want to pay for a credit repair service.
Credit repair companies will evaluate your credit report and come up with an individualized plan to improve your score, no matter what’s bringing it down.
They can dispute inaccuracies on your report, help negotiate the deletion of collections entries, and more.
If you’re dealing with more than just debt collectors, these companies can help get you on track, whether you’re recovering from bankruptcy, foreclosure, a judgment, or repossession.
Several companies offer multiple subscriptions, so you only have to pay for the level of service you need.
No matter how complicated or straightforward your credit situation is, these companies can simplify the process of improving your score.
We’ve reviewed dozens of options, narrowing them down to a list of the best credit repair companies.
If you think you could use professional help, explore the companies to decide which one is the best pick for you.
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FMS Inc. Contact Information
FMS Corp’s contact information is listed below:
4915 South Union Avenue
Tulsa, OK 74107
Dealing with FMS Inc.
Don’t call FMS Inc. just yet. First, make sure that you understand your rights under the Fair Debt Collection Practices Act.
The FDCPA is a law that protects you from aggressive and abusive debt collection practices, setting the standards for how debt collectors interact with you.
For instance, it prohibits debt collectors from calling you before 8 a.m. or after 9 p.m.
It also keeps them from sharing your information with other individuals and bothering you at work.
Unfortunately, debt collectors don’t always adhere to the FDCPA’ guidelines, in which case, you should file a complaint with the Consumer Financial Protection Bureau.
You can see complaints against the agency by looking at its profile on the Better Business Bureau and the CFPB.
One of the most important benefits of the FDCPA is that it allows you to put a stop to debt collectors’ calls and communicate in writing instead.
Letters can go a long way in providing the evidence you need to get the agency’s entry deleted from your report.
Whether you seek out help or decide to tackle credit repair on your own, don’t delay in getting collections entries off your report.
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