Financial Network Recovery

I truly appreciate your allowing me to discuss this matter over our recent phone conversation this afternoon I would first like to apologize for any issues you had in trying to reach us by phone or by way of our contact card information from our website I will look into this issue to see what occurred as it is extremely important to my business to respond to any inquires as that is the purpose of my company to respond and resolveAlso as discussed I never received any mail return from the address in which we were sending our letters to which was [redacted] Lane - [redacted] - [redacted] - *** Being that you moved over a year ago I would suggest you place another change of address in case that address is still receiving your mail It is a good practice to place this request after your first request months later as the first request expires from what I have been toldAs to your request for an itemization as to why these monies are due I have attached the "Account History Report" that my office received upon receipt of this assignment back on November 13, As I explained my client is a finance company that lends monies for insurance policies under a premium finance contract Your Agent "Goode Insurance Agency" requested a General Liability Insurance policy for your business "Little Electric" effective 11/29/ The cost of the policy was of which your Agent reported you provided a deposit of $which resulted in a balance due the Insurance Company in the amount of $Your Agent contacted our Client to issue a Month Installment loan for this balance of which my Client accepted Our Client charged a $Finance charge to lend these monies resulting in a balance due our client in the sum of $Your Monthly payments were computed to be $per month of which you paid payments of $each as there was a late fee included in each payment of $each Deducting the late fee from these payments they totaled $which was subtracted from the $owing resulting in a balance due of $ My client failed to receive your 4th payment that was due on 3/29/so a request for cancellation was sent to be effective 4/20/ Upon the Cancellation taking effect the Insurance Carrier returned the net unearned premium in the amount of $and your Agent returned the Unearned Commission in the amount of $which was applied to the owing balance of $resulting in a balance due in the sum of $ Our client had applied an additional late fees of $each totaling $as you failed to continue to make payments on this installment loan This amount of $was added to $due resulting in the amount of $assigned Interest had continued to be added and today reflects an additional $resulting in the total balance due in the amount of $As per our conversation I had agreed to waive this interest as you had stated that you did receive several bills from Companies in the past prior to your move however since your move you never received a bill from my office and wasn't aware that this amount was outstanding At this time, please review the attached information and the recap above and if you have no further questions, please remit the agreed upon amount in the sum of $to pay this account as Paid in full Also I have agreed to remove our credit reporting as a courtesy as I understand that no billing has been received at your current addressI truly appreciate all your time on this matter and I apologize for any issues that you had in trying to reach my officeTake care, L [redacted] President Financial Network Recovery EEasy Street, Suite Simi Valley, CA Office: ###-###-####, extFax: ###-###-#### Website: www.fnetrecovery.com THIS COMMUNICATION IS BEING SENT BY A DEBT COLLECTORANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSEPRIVILEGED AND CONFIDENTIAL INFORMATION: This electronic transmission and any documents attached hereto are intended for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential, and exempt from disclosure under the Electronic Communications Privacy Act (USC §§ 2510-2521)If the reader of this message is not the intended recipient, or the employee or agent responsible for delivery to the intended recipient, you are hereby notified that any use, printing, reproduction, disclosure or dissemination of this communication may be subject to legal restriction or sanctionPlease notify the sender immediately and delete this message

Thank
you for sharing and informing us of this concernWe, Financial Network
Recovery, have always taken our care for consumers as well as our clients very
seriously and that level of concern is what drives our procedures and processes
Our
record speaks for itself, having maintained the highest rating with the Revdex.com
which is extremely uncommon for businesses such as ours, given the nature of
our services
We
received the letter of concern in question and responded to same via U.S
Postal mailThis response, dated December 8, included a copy of the Customer
Statement dated November 13, 2009, the Student Transaction Register as well as
the Enrollment Agreement which outlines the terms of repayment that the
Claimant initialed in three (3) places, as well as completely signed and dated
on December 10, This fact leaves very little margin for the declaration
of a lack of awareness on the part of the Claimant and the Institution (our
client)
Our
credit reporting of this matter is in line with and can be defended as proper,
in accordance with the FDCPA (Fair Debt
Collection Practices Act) and the FCRA (Fair Credit
Reporting Act)
We don’t take this position irresponsibly as we our long-standing members of
ACA (The Association of Credit and Collection Professionals) and our management
team supports and attends the educational conferences of NARCA (National Association of Retail
Collection Attorneys) and the CalCBA (California Creditors Bar Association)
routinely to maintain a current understanding of all applicable laws and
guidelines surrounding the debt recovery industry
We are willing
and open to re-sending the requested information again and will as a courtesyPlease
advise us of any further clarification that may be necessary.
Thank you,
*** ***President Financial Network Recovery IncEast Easy Street #1Simi Valley, Ca 93065(805) 522-ext 25(805) 522-(fax)

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 11565322, and find that this resolution is satisfactory to me I have heard back from the company and the complaint was resolved in a prompt and professional manner. I, Wendy Little consider this complaint resolved in it's entirety and considered closed. Thanks to all who were involved in this transactionThank You!!
Regards,
*** ***

I truly appreciate your allowing me to discuss this matter...

over our recent phone conversation this afternoon.  I would first like to apologize for any issues you had in trying to reach us by phone or by way of our contact card information from our
website.  I will look into this issue to see what occurred as it is extremely important to my business to respond to any inquires as that is the purpose of my company to respond and resolve.
Also as discussed I never received any mail return from the address in which we were sending our letters to which was
[redacted] Lane - [redacted] - [redacted] - [redacted].  Being that you moved over a year ago I would suggest you place another change of address in case that address is still receiving your mail.  It is a good practice to place this request after your first request 6 months later as the first request expires from what I have been told.
As to your request for an itemization as to why these monies are due I have attached the "Account History Report" that my office received upon receipt of this assignment back on November 13, 2013.  As I explained my client is a finance company that lends monies for insurance policies under a premium finance contract.  Your Agent "Goode Insurance Agency" requested a General Liability Insurance policy for your business "Little Electric" effective 11/29/12.  The cost of the policy was 750.00 of which your Agent reported you provided a deposit of $210.00 which resulted in a balance due the Insurance Company in the amount of $540.00.
Your Agent contacted our Client to issue a 10 Month Installment loan for this balance of which my Client accepted.  Our Client charged a $81.00 Finance charge to lend these monies resulting in a balance due our client in the sum of $621.00.
Your 10 Monthly payments were computed to be $62.10 per month of which you paid 3 payments of $65.20 each as there was a late fee included in each payment of $3.10 each.  Deducting the late fee from these payments they totaled $186.30
which was subtracted from the $621.00 owing resulting in a balance due of $434.70.  My client failed to receive your 4th 
payment that was due on 3/29/13 so a request for cancellation was sent to be effective 4/20/13.  
Upon the Cancellation taking effect the Insurance Carrier returned the net unearned premium in the amount of $311.95 and your Agent returned the Unearned Commission in the amount of $55.05 which was applied to the owing balance of
$434.70 resulting in a balance due in the sum of $67.70.  Our client had applied an additional 7 late fees of $3.10 each totaling $21.70 as you failed to continue to make payments on this installment loan.  This amount of $21.70 was added to $67.70 due resulting in the amount of $89.40 assigned.  Interest had continued to be added and today reflects an additional $25.18 resulting in the total balance due in the amount of $114.58.
As per our conversation I had agreed to waive this interest as you had stated that you did receive several bills from Companies in the past prior to your move however since your move you never received a bill from my office and wasn't aware that this amount was outstanding.  At this time, please review the attached information and the recap above and if you have no further questions, please remit the agreed upon amount in the sum of $89.40 to pay this account as Paid in full.  Also I have agreed to remove our credit reporting as a courtesy as I understand that no billing has been received at your current address.
I truly appreciate all your time on this matter and I apologize for any issues that you had in trying to reach my office.
Take care,   
L[redacted]
President
Financial Network Recovery
250 E. Easy Street, Suite 1
Simi Valley, CA 93065
Office: ###-###-####, ext.31
Fax:    ###-###-####
Website: www.fnetrecovery.com
 
THIS COMMUNICATION IS BEING SENT BY A DEBT COLLECTOR. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
PRIVILEGED AND CONFIDENTIAL INFORMATION: This electronic transmission and any documents attached hereto are intended for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential, and exempt from disclosure under the Electronic Communications Privacy Act (18 USC §§ 2510-2521). If the reader of this message is not the intended recipient, or the employee or agent responsible for delivery to the intended recipient, you are hereby notified that any use, printing, reproduction, disclosure or dissemination of this communication may be subject to legal restriction or sanction. Please notify the sender immediately and delete this message.

Review: I received my credit report and saw that I had outstanding debt with Financial Network Recovery for $ 1,873.00 and they were collecting a debt I had with the original creditor HEALD COLLEGE HAYWARD, I dont remember ever having a loan with Heald College so I ask them to please verify the debt I sent them a letter via certified mail on 12/2/2014, and I never received a response.Desired Settlement: Per the Fair Credit Reporting Act, Section 611 (a) (5), you have 30 days to investigate disputes. If you cannot verify the information within the 30 day time period, you must delete all of the disputed accounts from my report.

Business

Response:

Thank

you for sharing and informing us of this concern. We, Financial Network

Recovery, have always taken our care for consumers as well as our clients very

seriously and that level of concern is what drives our procedures and processes.

Our record speaks for itself, having maintained the highest rating with the Revdex.com

which is extremely uncommon for businesses such as ours, given the nature of

our services.

We

received the letter of concern in question and responded to same via U.S.

Postal mail. This response, dated December 8, 2014 included a copy of the Customer

Statement dated November 13, 2009, the Student Transaction Register as well as

the Enrollment Agreement which outlines the terms of repayment that the

Claimant initialed in three (3) places, as well as completely signed and dated

on December 10, 2008. This fact leaves very little margin for the declaration

of a lack of awareness on the part of the Claimant and the Institution (our

client).

Our

credit reporting of this matter is in line with and can be defended as proper,

in accordance with the FDCPA (Fair Debt

Collection Practices Act) and the FCRA (Fair Credit

Reporting Act).

We don’t take this position irresponsibly as we our long-standing members of

ACA (The Association of Credit and Collection Professionals) and our management

team supports and attends the educational conferences of NARCA (National Association of Retail

Collection Attorneys) and the CalCBA (California Creditors Bar Association)

routinely to maintain a current understanding of all applicable laws and

guidelines surrounding the debt recovery industry.

We are willing

and open to re-sending the requested information again and will as a courtesy. Please

advise us of any further clarification that may be necessary. Thank you,[redacted]

President

Financial Network Recovery Inc.

250 East Easy Street #1

Simi Valley, Ca 93065

(805) 522-3718 ext 25

(805) 522-3748 (fax)