As you probably know, the phone number 866-637-6196 is associated with Financial Asset Management Systems. They're calling you because they think you owe a debt that you should pay as quickly as possible.
But do you really owe that debt, and is the amount they're claiming accurate? The answer to those questions could change everything.
What is Financial Asset Management Systems?
Full Name: Financial Asset Management Systems, Inc. (FAMS)
Company Type: Third-party debt collector, government-contracted collection agency
Founded: 1993 (in Georgia)
Headquarters: 665 Molly Lane, Suite 110, Woodstock, GA 30189
Industry Verticals: Student loans (federal and private), healthcare, government debts, financial services, telecommunications
Parent Company: Owned by Ares Capital Corporation (acquired American Capital Strategies in 2017)
Notable Clients: U.S. Department of Education (since 1997), Navient, Emory Healthcare, State of New Jersey
BBB Rating: B (not accredited), with 15 complaints in the last three years and all customer reviews at 1 out of 5 stars
Estimated Employees: 117 (was around 500 at its peak)
Are You the Only One Receiving Calls from 866-637-6196?
No. Financial Asset Management Systems has been named in over 180 federal lawsuits in more than 40 states, with the majority alleging violations of the Fair Debt Collection Practices Act (FDCPA) and the Telephone Consumer Protection Act (TCPA). Consumer complaints about this number go back over a decade, registered on platforms like 800notes, ShouldIAnswer, and the Better Business Bureau.
In one case, Molinari v. Financial Asset Management Systems, a consumer alleged that FAMS obtained his cell phone number through skip tracing and called it over 100 times using an automated dialing system. The plaintiff claimed to have suffered anxiety, headaches, and marital problems as a result. That B rating at the BBB does not concern companies like FAMS, whose revenue relies entirely on the creditors who hire them, not the goodwill of the people they call.
Why is Financial Asset Management Systems Calling Me?
Is This Debt Real?
That sounds like a weird question, but hear me out. It's the most important one you can ask. FAMS collects debts in multiple verticals: student loans, medical bills, government fines, telecom balances. The issue is that consumers regularly complain about being pursued for debts that the original creditor cannot verify.
One consumer described the situation on 800notes: "I got a call from this number, and they said my first and last name. They said I owe a medical debt, and so I called the company of my doctors and they said I had no debt." Another reported daily calls about a surgical debt that never existed: "They call everyday saying I have an unpaid debt from some plastic surgeon. I have never had any surgeries and no debt."
In a 2024 BBB complaint, one consumer reported that FAMS was calling about an alleged student loan balance, so he called Navient directly. Turns out that Navient itself could not verify the claim. Credit bureaus process billions of data points, and the system values speed and volume over verifying each one. Errors get into credit reports all the time, and they won't come out without help.
Do They Have the Wrong Party?
Wrong number accusations account for a significant share of the reports we see on 866-637-6196.
One 800notes complainant recounted a six-month struggle: Repeated calls from this number asking for the person who last had this number over 4 years ago. I have repeatedly called them back to say that this that person isn't at this number and they have assured me each time my number is removed from their list. But still I'm getting calls.
A 2025 BBB complaint documented five calls from five different FAMS phone numbers in one month, all trying to reach a person the recipient didn't know. If the calls aren't for you, it doesn't mean they'll stop.
What Are Other Consumers Saying About These Calls?
Do They Have a History of Silent Calls and Hang-Ups?
Robocalls, dead air, and immediate hang-ups are reported across virtually all platforms. One ShouldIAnswer commenter said: This number call my county phone every day and no one answer just silent. Another reported his wife receiving three separate calls that went dead as soon as she picked up.
These silent calls are no mere technical hiccups. An auto-dialer connects its calls to live representatives when one becomes available, leaving the person on the other end staring at a blank line. That technology allows a company to make many more calls per hour than a human caller could possibly make, but it reduces the consumer to a data point in a queue.
How Aggressive Do These Calls Get?
Some consumers report conversations that went beyond pushy and into outright hostile. One ShouldIAnswer reviewer reported telling a FAMS representative named Mr. Marshall that they were going to sue, and being told: I'd like to see you try it. That consumer said they filed complaints with both their state attorney general and the FTC.
Another consumer reported a supervisor yelling at them for being unemployed when they told the collector they'd been medically disabled for six years. A separate 2025 BBB reviewer, a single mother, reported being threatened with 20 percent wage garnishment. The question to ask is whether a legitimate business would ever behave this way.
What Happens If You Engage With the Caller?
Why Are They Demanding Your Personal Information First?
Multiple consumers report FAMS representatives demanding Social Security numbers, dates of birth, and other personal data before they'll even tell you why they're calling. One 2025 BBB reviewer reported being asked for a Social Security number, phone number, email address, and home address to "qualify" for a discussion of some undisclosed financial issue.
One 800notes commenter put the absurdity into perspective: The caller wants you to prove your identity when they're the ones who called you.
A 2024 BBB complaint reported receiving emails from FAMS asking the consumer to download something secured by the last four digits of a Social Security number. Any information you give a debt collector is just one more way they can use you. Information should flow in only one direction: from them to you.
Does Talking to Them Make the Calls Stop?
Based on the complaints, the answer appears to be no. Multiple consumers report telling FAMS to cease contact, being told that their phone number had been deleted, and receiving additional calls a few days later. One consumer reported being called three times a day about a medical debt that the lab had already confirmed as paid.
The more you interact with a collector, the worse things get. You've confirmed the phone number is active, you've confirmed that it answers, and you've confirmed that the person knows about the debt. All three of those confirmations are worth something to a collection operation. None of them are worth anything to you.
Can a Collection Account Be Removed From Your Credit Report?
Do Credit Bureaus Actually Verify What Collectors Report?
The credit reporting system is an honor system that is rigged against consumers. When a company like FAMS reports a collection account to Equifax, Experian, or TransUnion, that account typically goes on your report without anybody bothering to verify it. The bureaus deal in massive amounts of data, and speed takes precedence over accuracy.
Studies conducted by the Federal Trade Commission have shown high rates of error in consumer credit reports, with millions of Americans carrying incorrect information that is damaging their credit scores. The reason a collection account from FAMS is on your report isn't because some careful investigator decided you owed the money. It's on your report because somebody sent in a data file, and nobody bothered to check it.
Is Complete Removal Actually Possible?
Complete removal of a collection account is the best outcome you can achieve, and it happens more often than most consumers think possible. Under the Fair Credit Reporting Act, everything on your credit report must be accurate and verifiable. When you properly dispute a collection account, the burden shifts to the collector to prove that the debt is valid, that the information is correct, and that it is properly documented.
A third-party debt collector often lacks the documentation necessary to withstand a properly executed dispute. The debt has changed hands at least once, possibly several times, and every time that happens, the odds of the documentation getting lost or destroyed increases. When a collector cannot verify a credit reporting entry, the credit bureau is required by law to remove it. That does not require you to pay or settle the debt.
What Should You Do Next?
Stop Reacting and Start Asking Questions
Every single consumer who is getting unwanted calls from 866-637-6196 needs to be asking themselves the same questions. Is this debt valid? Can the collector prove it? Is the information on my credit report accurate? There is a factual answer to each of those questions, and figuring those answers out is how you differentiate between the consumers who remain frustrated and those who get the problem solved.
The calls from Financial Asset Management Systems are designed to get you to react. When you react, you make impulsive decisions that help the debt collector, not you. The best position you can be in is an informed one.
How FightCollections.com Can Help
FightCollections.com specializes in disputing inaccurate and unverifiable collection accounts on consumer credit reports. If Financial Asset Management Systems has put an account on your report, our team can evaluate your situation and execute a dispute strategy that pursues complete removal.
You don't have to keep taking these calls. Contact FightCollections.com today for a free consultation, and take the first step toward getting this problem solved.
