Is the debt collection agency Alliance Asset Management, Inc. harassing you?

What is Alliance Asset Management, Inc.?

Founded in 2000, Alliance Asset Management, Inc. is reportedly operated out of Wood Dale, Illinois by its president, Mr. Paul Edwards, and its admin director, Ms. Diana Warner. While it appears Alliance Asset Management, Inc. is, itself, closed for business, the collector is most likely operating under an unknown alias in the same area.

Is Alliance Asset Management, Inc. a legit Debt Collection Agency?

Alliance Asset Management, Inc. has been recognized by the Better Business Bureau (BBB) since 2002 but is not accredited. The company maintains an A+ rating by the BBB even though the listing has not been claimed by the business owner and despite its 1-star average review. According to the CFPB, the agency is likely closed or at least is not currently conducting business under the name Alliance Asset Management, Inc. AAM, Inc. is a reported alias of Alliance Asset Management, Inc.

Alliance Asset Management, Inc. Contact Information:

330 Georgetown Sq # 104

Wood Dale, IL 60191-1890

(630) 760-1110 (phone)

(800) 399-8584 (toll free)

(630) 760-1123 (fax)

http://www.allianceasset.net

What kind of complaints does Alliance Asset Management, Inc. have Complaints against them?

Alliance Asset Management, Inc. has not received any BBB complaints but has received 28 CFPB complaints. Complaints against Alliance Asset Management, Inc. predominantly center around the collector’s communication habits. Some of the harassing tactics used by this debt collector include: frequent or repeated calls, use of obscene/profane/abusive language, threats to take legal action, contacting a consumer after being asked not to, and contacting a consumer’s employer after being asked not to.  If true, these alleged debt collection harassment tactics are violations of the Fair Debt Collection Practices Act.

Are Alliance Asset Management, Inc.’s Practices Legal?

The FTC enforces the Fair Debt Collection Practices Act (FDCPA), which makes it illegal for debt collectors to use abusive, unfair, or deceptive practices when they collect personal debts, including credit card debt, auto loans, medical bills, student loans, mortgage, and other household debts. Under the Fair Debt Collection Practices Act, debt collectors are, generally, allowed to call, send letters, send emails, or even send text messages to collect on debts, but they are not allowed to bother consumers at inconvenient times without the debtor’s permission or at locations such as a debtor’s place of employment unless personal calls are permitted by the employer.

Some of the consumer complaints lodged against Alliance Asset Management, Inc. represent activity that might violate the Fair Debt Collection Practices Act, including contacting the consumer’s employer and/or disclosing details about the alleged debt to third parties. Consumers have a right privacy on debt-specific communications, and unpermitted disclosure of debt information to anyone other than the alleged debtor may be a violation of law. In addition to state remedies, each violation could mean a $1,000 penalty under federal law.

How can I defend myself against a debt collector like Alliance Asset Management, Inc.?

Complaints regarding a collector in any state may be filed with the Federal Trade Commission at www.ftc.gov or (877) FTC-HELP (877-382-4357), and complaints regarding any collector or other business can be made at BBB complaints. To learn more about how the federal government regulates debt collection and protects debtors and other individuals from collector harassment, see FTC Debt Collection pamphlet. Complaints regarding Illinois–based collectors can be made to the Illinois Attorney General’s Office. Questions or complaints regarding Springfield-based collectors specifically can be directed to 1-800-243-0618.

If you believe you have a claim for collection harassment or are a victim of another violation of state or federal debtor’s rights, you should speak with a collection harassment attorney or debt collector harassment lawyer immediately. Contact us today to discuss your matter and see how we can help at no cost to you.