BRM Recovery Services

A review of our previous account records indicates that this former customer of Famsa signed an agreement after his bankruptcy to retain certain property described as: LIVING ROOM RECLINER, 7PC DINETTE, FRIDGE, HUTCH, TABLE, that was collateral for the Famsa retail installment contract The Agreement he signed was for a reduced principal amount of $2500, which the parties understood and agreed was the fair market value of this property at the time the Agreement was executed in February A copy of this Agreement has been provided to the Complainant.The account history indicates that monthly payments of $each were made under the Agreement in March, April and May 2011, after which the Complainant defaulted As a matter of policy, the default was reported to the credit bureau and this obligation continued to be reported accurately as a delinquent account Had this customer made his payments as agreed, this payment history would have reflected positively on his credit bureau report, however, there is no record of any payments other than the monthly payments listed above Since our company is no longer responsible for servicing this account, no further communication will be provided by this officeIt is anticipated that Complainant will be notified when a new servicer has been designated to handle this matter