Credit and Debt Counseling
Franklin Credit Management CorpAbout
Important information
- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:Settlement
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On Sept. 26, 2024 the Commonwealth of Massachusetts, through the Office of Attorney General ("AGO") and Franklin Credit Management Corporation (“FCMC”) (collectively, the “Parties”) agreed to the Assurance of Discontinuance (“Assurance”) pending an investigation.
The AGO alleges that FCMC failed to comply with Massachusetts foreclosure-prevention law by failing to timely provide borrowers with required notices and failing to take required steps when borrowers replied to the notices. The AGO further alleges that FCMC violated Massachusetts Debt Collection Regulations by improperly collecting or attempting to collect on time-barred debt, calling borrowers in excess of twice in a seven-day period by failing to send required debt validation notices.
In lieu of litigation and in recognition of FCMC's cooperation throughout the investigation, the AGO agreed to accept this Assurance.
FCMC entered into this Assurance for settlement purposes only in order to avoid expense and risks of litigation, and denies the AGO's allegations.
Business Details
- Local BBB:
- BBB Serving New Jersey
- BBB File Opened:
- 6/21/2006
- Business Started:
- 6/1/1995
- Alternate Names:
- Franklin Credit Management Corporation
Additional Information
- Other Resources
- NMLS - Nationwide Mortgage Licensing System & Registry
NMLS Consumer Access
Washington DC 20036
Phone Number: 855-665-7123
http://www.nmlsconsumeraccess.org/ - Business Categories
- Credit and Debt Counseling, Mortgage Broker, Real Estate Loans
More Resources
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