ISPC, Inc. (formerly The Independent Savings Plan Company) is a Florida-based consumer finance company that issues revolving credit lines to homeowners for residential equipment, including water softeners, home security systems, and HVAC units.
When accounts become delinquent, ISPC transfers them to an internal legal department that sends demand letters and, in documented cases, files civil suit in Florida state court. This page covers your legal rights, your response deadlines, and the defenses available to you if ISPC is pursuing collection or has already filed suit.
Who Is ISPC, Inc.?
ISPC, Inc. is a consumer finance company headquartered at 1115 Gunn Hwy, Suite 100, Odessa, FL 33556, and has operated since 1983. ISPC does not sell or install home products. It provides financing through a network of independent third-party contractors who market and install the equipment.
Because ISPC originates its own credit accounts, it is a creditor under federal law, not a third-party debt collector, and the Fair Debt Collection Practices Act does not govern its internal collections activity.
Your primary federal protections come from the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., which regulates how ISPC reports your account to the credit bureaus and investigates disputes.
| Legal Name | ISPC, Inc. (f/k/a The Independent Savings Plan Company) |
| Address | 1115 Gunn Hwy, Suite 100, Odessa, FL 33556 |
| Phone | (800) 345-4772 |
| In Operation Since | 1983 |
| Primary Function | Consumer finance company; revolving credit lines for homeowner equipment purchases |
| FCRA Status | Furnisher of information subject to 15 U.S.C. § 1681s-2 |
| BBB Status | BBB Accredited, A+ Rating |
Your Legal Rights When ISPC Pursues Collection
The Fair Credit Reporting Act grants you four enforceable rights against ISPC as a furnisher of credit information, and violations of those rights entitle you to actual damages, statutory damages between $100 and $1,000 per willful violation under 15 U.S.C. § 1681n, plus attorney’s fees and costs.
Right to Dispute Inaccurate Reporting: 15 U.S.C. § 1681s-2(b)
When you dispute an ISPC tradeline through a credit bureau, ISPC must conduct a reasonable investigation and correct or delete any information it cannot verify. BBB complaint records from 2025 and 2026 document consumers who submitted payment evidence only to receive responses that did not address the documentation provided. A failure to investigate reasonably is an actionable FCRA violation.
Right to Accurate Reporting: 15 U.S.C. § 1681s-2(a)
ISPC must report only complete and accurate information. Verified BBB complaints from 2025 and 2026 document ISPC reporting conflicting balances across the three bureaus and flagging accounts as delinquent when payment records showed timely payments were made. Each inaccurate entry is a separate actionable violation.
Right Against Unauthorized Credit Inquiries: 15 U.S.C. § 1681b
ISPC may only pull your credit report for a permissible purpose under 15 U.S.C. § 1681b. In Calloway v. ISPC, Inc., Case No. 8:24-cv-01307 (M.D. Fla., filed May 29, 2024), a federal class action alleges that ISPC ran hard inquiries and opened revolving accounts for consumers who had only provided basic contact information during a telemarketing call and had explicitly declined to purchase. Willful violations of 15 U.S.C. § 1681b carry statutory damages of $100 to $1,000 per violation plus punitive damages.
Right to a Timely Investigation: 15 U.S.C. § 1681i
After you file a dispute, ISPC has 30 days to complete its investigation and report results back to the bureau. If ISPC certifies verification without reviewing your submitted documents, or misses the deadline, each instance is a separate FCRA violation you may assert as a counterclaim in any litigation ISPC initiates against you.
Documented Consumer Complaints Against ISPC
The BBB complaints page for ISPC reflects 44 complaints filed in the three years ending May 2026, with 19 filed in the 12 months ending May 2026. Three recurring patterns appear in those records.
Pattern 1: Legal escalation without a settlement offer. Multiple BBB complaints from 2025 document consumers transferred to ISPC’s legal department after a single hardship communication, with no structured payment plan offered before escalation. Source: BBB complaint records, 2025-2026.
Pattern 2: Inaccurate delinquency reporting. Consumers reported receiving negative credit entries for payments their records showed were made on time, and for accounts paid in full that ISPC re-reported as carrying an active balance after reactivating credit reporting. Source: BBB complaint records, 2025-2026.
Pattern 3: UCC-1 fixture filing blocking home sale. Multiple consumers discovered an ISPC UCC-1 filing only at the closing table when attempting to sell or refinance their home. ISPC characterizes the filing as a security interest in the equipment, not a real property lien, but title companies require a release before closing regardless of that distinction. Source: BBB complaint records, 2025-2026.
If ISPC Has Filed a Lawsuit Against You
ISPC’s internal legal department files civil suit in Florida state court to obtain money judgments against consumers with delinquent accounts. If you have been served with a complaint, four steps apply immediately.
- Step 1: Confirm your service date. In Florida, you have 20 days from the date of service to file a written Answer. Missing this deadline results in a default judgment entered against you automatically.
- Step 2: Do not assume a phone call stops the clock. Calling ISPC’s collections department does not extend your court deadline. The litigation timeline runs independently of any verbal negotiation.
- Step 3: Compare the claimed balance to your payment records. If the balance ISPC is suing you for conflicts with your payment history, that discrepancy is a factual defense that must be raised in your written Answer.
- Step 4: Identify any FCRA counterclaims. If ISPC reported inaccurate information to the credit bureaus during the collection process, those violations are assertable as counterclaims under 15 U.S.C. § 1681n and can affect the settlement value of the case. Call 877-700-5790 or visit our free case review page before your deadline passes.
Payments, Settlements, and Resolution Options
ISPC’s collections department works with consumers to resolve delinquent balances through several paths, each with distinct credit reporting consequences.
- Lump-sum settlement. ISPC may accept a discounted payoff on accounts with extended delinquency, particularly with documented financial hardship. Obtain any accepted settlement figure in a signed written agreement before making payment.
- Structured payment plan. BBB complaint records indicate ISPC has offered modified monthly payment arrangements in some hardship cases. Confirm in writing whether the modified plan reinstates the account as current for credit reporting purposes before agreeing to any terms.
- UCC-1 payoff for real estate closing. Request a formal payoff letter through ISPC’s payoff request page at theispc.com or by calling (800) 345-4772. Confirm the release timeline with your closing attorney before scheduling a closing date.
- Note on credit reporting after resolution. A balance reported as “paid in full” carries different credit consequences than one reported as “settled for less than the full amount.” Confirm the reporting treatment in writing before making any payment. Verbal commitments from collections representatives carry no legal weight.
Frequently Asked Questions About ISPC
Is ISPC a debt collector under the FDCPA?
No. ISPC originates the credit accounts it collects on, which makes it a creditor rather than a third-party debt collector. The FDCPA applies to collectors pursuing debts originally owed to another entity. ISPC’s internal collections department falls outside the FDCPA definition of “debt collector” under 15 U.S.C. § 1692a(6). Your primary federal protection against ISPC is the Fair Credit Reporting Act, not the FDCPA.
How long do I have to respond to a lawsuit from ISPC?
In Florida, you have 20 days from the date you are served with the civil complaint to file a written Answer with the court. If you miss this deadline, the court enters a default judgment against you automatically, authorizing ISPC to pursue wage garnishment and bank levies without further hearing. Do not wait to contact an attorney.
What happens if a default judgment is entered against me?
A default judgment is a public court record that authorizes ISPC to enforce collection through post-judgment remedies under Florida law, including garnishing wages and levying bank accounts. The judgment also appears as a separate derogatory entry on your credit report independent of the original ISPC tradeline. Vacating a default judgment after the fact is possible but significantly more difficult than responding before the deadline.
Can I dispute the balance ISPC is suing me for?
Yes. Under the FCRA, ISPC must maintain and report accurate account information. If the balance claimed in the lawsuit does not match your payment records, that discrepancy is both a factual defense in the civil case and a potential violation of 15 U.S.C. § 1681s-2(a). Document every payment you made with dates, amounts, and confirmation numbers before your Answer deadline.
What is the ISPC UCC-1 filing and can it be removed?
ISPC files a UCC-1 Financing Statement in the county where financed equipment is installed as a security interest in that specific equipment. The filing can be released by paying the outstanding balance in full or negotiating a payoff. Request a written payoff letter directly from ISPC. The release must be filed with the county before a title company will allow a home sale or refinance to close.
Can I sue ISPC for reporting inaccurate information?
Yes. Under 15 U.S.C. § 1681n, willful violations of the FCRA by a furnisher carry statutory damages of $100 to $1,000 per violation, punitive damages at the court’s discretion, and recoverable attorney’s fees. Under 15 U.S.C. § 1681o, negligent violations carry actual damages plus attorney’s fees. If ISPC reported a delinquency that your records contradict, or failed to correct an entry after a dispute, you may have an actionable claim.
What is the statute of limitations to sue ISPC under the FCRA?
Under 15 U.S.C. § 1681p, you must file an FCRA claim within two years of the date you discovered or reasonably should have discovered the violation, or within five years of the date the violation occurred, whichever comes first. If you received a credit alert or pulled your report and identified an inaccurate ISPC entry, the two-year window starts running from that date.
Where can I file a complaint against ISPC?
You may submit a complaint through the CFPB complaint portal, through the FTC at reportfraud.ftc.gov, or through the Florida Office of Financial Regulation. If your complaint involves an inaccurate credit entry, an unauthorized account, or active litigation, an attorney can file a civil FCRA action on your behalf with fees recoverable from ISPC if the case prevails.
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Consumer Rights Law Firm PLLC has defended consumers against creditors and credit reporting violations since 2010, holds an A+ BBB rating, and recovers attorney’s fees under 15 U.S.C. § 1681n in qualifying FCRA cases, meaning you pay nothing out of pocket.
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This page is provided for informational purposes only and does not constitute legal advice. Reading this page does not create an attorney-client relationship between you and Consumer Rights Law Firm PLLC. The information reflects federal law as reviewed in May 2026. State laws vary and may provide additional protections or impose different procedural requirements. Consult a licensed attorney in your state for advice specific to your situation.