Just to share my experience - I was THAT close to settling a debt with them. The person with whom I spoke was VERY nice and had agreed to list "paid in full" on my credit report and then have it removed entirely within 3 months. These are both actions that is completely within their power to do. http://www.creditinfocenter.com/debt/settle_debts.shtml

I was careful to stipulate that I needed their agreement in writing. She listed everything we agreed to EXCEPT the "paid in full" and the credit report removal. I called her back to inform her of her mistake and then she shyly asked me to hold. My experience has brought me from rueing this situation to relishing it -- the infamous without-warning transfer to her manager.

"What's the problem Mr. ****?" Uh, well the date is wrong and our agreement isn't on here. "We can't put paid in full unless you pay in full and we have no way of deleting this debt from the credit report." Little did he know that only a year before I had 1) settled a debt for less that what I owed, 2) got it listed as "paid in full" IMMEDIATELY, and 3) within 10 DAYS the debt collection company removed said debt from my credit report. I learned this from the above referenced web site. When I called him on it, he angrily changed the word "can't" to "won't". He laughed and said he wasn't going to play around with the language and started yelling, "you owe ____! Are you going to pay it or are you not? It's that simple." He also didn't know that I myself am a bar exam away from becoming a practicing attorney. I gladly laughed and repeatedly called him on his lie by turning it on him: "just tell me that you won't list it as paid in full: a simple yes or no. I know you are taping this so just tell me yes or no." Now he wouldn't even say no - instead he kept threatening to hang up, kept saying "we don't do anything with the credit report" [he changed it from "can't" to "won't" and then to "don't"], and kept asking me if I was going to pay. To which I jovially repeated the question, "yes or no? just tell me 'no' and we're done. Will you list paid in full on my credit report?" He refused to simply say "no" and instead hung up.

Hope I didn't bore you. Just wanted to share. In the end I am quite glad I had the knowledge of what they can and can't do because I would have given them money for nothing. Ironically (you'll love this), they tried to call me that evening but they wouldn't leave a message. The offer "expired" that very day, but they sent me a brand new offer for the same amount the next week. And my debt drops off in a few months. They could have had SOME money; now they get NO moolah!

One last thing. I'm no expert. I am a debter with bad credit -- foolish mistakes made when I was a freshman and sophomore in college. There are plenty of experts here at this site from what I can tell. Listen to them; check out the site above; educate yourself and don't crap in your pants like I used to when they would threaten me with legal action. And to the collectors who keep saying, "why don't you pay your debts?" I would LOVE to and I will when the credit companies find it to be worth it to work with their debtors rather than tack on interest after interest after interest.

I would like to get with other victims of Asset Acceptance Asset and sue them!

Here is my story: it is 2010 and Asset Acceptance LLC has just stolen $5000 from my bank account. They claim it is from an old $900. visa from 1995. They severed someone with my last name in an other state. That person discarded the summons and Asset Acceptance automatically got a default judgment against me. They then used a Domestic Interstate Transference to transfer the judgment to the state of my residence and take the money plus 15years worth of interest from my account. They are cowards and crooks and they purposely sneak cases through courts without giving you the chance to fight it. Asset Acceptance knows that the only way to win is by default. You often need a lawyer to fight them which is so costly that most people just "give in to them".

I have learned that they constantly troll these blogs because they DO NOT want us to know about each other and they especially do not want us talking to one another. If you see any comments that support their tactics I can guarantee you it is just one of there "employee scumbag plants"

Organizing together is the key (just "Google" their name and you can see that they MUST be stopped)

I have no legal expertise I am just a another victim who is determined to stop them...I have created an email address just for this fight so feel free to write me at standup2scum@aol.com

Victims and Lawyers interested in representing a Class Action case against Asset Acceptance are always welcome to email me.
Sincerely Victim X.