Asset Acceptance LLC

These people are nasty. They called my wife and said she owed 554.00 from 1995. She said she did not owe it but did not have papers to prove it. They called again and I tried to talk to them and they offered a settlement of 227.00. Foolishly I paid it so I did not have to deal with it. Later I found out Statutes of Limitations in FL is 4 years and starts on last payment. Shame on me for being stupid but I never dealt with any collections of any sort.I guess it was a 227.00 LESSON well learned. Hope anyone else could learn from it to.


Good Luck
Stoquer

Hi Stoquer

Welcome to the forums. Since you were not completely aware of how to deal with the collectors, I guess you will consult before you make any move in the future.

Always make sure to check the statutes as well ask for validation of the debt from the collectors. Try to get the best negotiation and make regular payments if you owe the debt.

Ultimately, your credit report will only be enhanced and you will be acquiring your credit worthiness in the future.

Regards
Roxette

Hi, which firms? I'm in OH, could i join in? [/quote]I'm in the middle of filing a motion to vacate an (illegal) judgement they had filed In the WRONG county! It's a long story but when I sent a letter telling them I didn't live in that county they transferred only 1 of them to the proper county. The other one I got vacated, because they knew they were wrong. Only problem is they did it
"Without predjudice" which means they could file it in the proper county. Mind you These Are 15 years old!! My court date for the other case has been continued until July 19th. this is the 3rd continuance~ and this is a debt for Under $300.00. dont be misled into thinking Asset doesn't file LAwsuits for under $500. because they will.
This is all because they went Public in February 2004, so in order to Boost their portfolio they bought millions of dollars of Debts. You can find alot of articles on this with a Google search. This is the exact same thing that Enron did, just before they went under! Interesting huh?? I'm not giving up on getting this 2nd case vacated, since it is way out of the SOL. THank you for this Forum!
Krista

[email made inactive as per forum rules-Mike]

Hi Krista

Welcome to the forums. Most of the judgments are won when the defendant does not appear in the court at the allotted date or when they fail to produce all the paperwork to the court on the hearing date.

Do let us know after you have won the case. The court usually sends a court document stating that the case was dismissed. You can produce this copy to the collection agency that contacts you and inform about it to the credit bureau also so that they remove the judgment from your credit report.

Regards
Roxette

Asset acceptance company sued me for a debt after I asked them for verification of the debt. They filed the case by internet to the Court and the media and Judge where very excited because this caught everyones attention that asset could file claims by the internet. When I answered the complaint I pointed out to the judge that asset could not verify the complaint. She gave them 60 days to verify (should have been dismissed) we came back she gave them another 30 days. We came back again and I insisted that they verify the debt, she finally dismissed the action. This case should never have been filed. Asset uses the courts when they can't verify a complaint and hopes to get a default judgement. They even servered me with interrogatoris on this complaint, like I was supposed to help them validate the complaint. Hard to understand why the courts don't put a stop to there illegal activites. We should really all file a class action lawsuit against them

Hi woodchipper2

Although it was not necessary at all to file a complaint when they were not able to verify your debt, they have caused you mental and legal harassment knowing that the case will be dismissed. You should be reporting this incidence to the Consumer Protection Dept. in the FTC.

Regards
Roxette

I have recently been contacted by asset acceptance llc for a credit card debt that I believe I do owe (though I'm not sure how much). My last payment was in 2002. They sent me an offer that if I pay a fairly low amount, they will send me a "paid" letter and the account will appear as "paid" on my credit report.

What steps should I follow in order to clear up this matter completely? I am concerned about sending money to this company. Should I contact the credit card company directly?

I have similar matters with other credit cards, and would like to (and have the means to) be able to clear it all up quickly.

Hi phantomkelp

Welcome to the forums. It is very nice on your part that you are conscious about repairing your credit report and you can do this by clearing all your past debts in the credit cards.

Firstly, pertaining to your legal rights allocated by the Fair Debt Collection Practices Act, you should have a complete knowledge of the accounts that has now been placed in the collections. Please ask your collectors to give a complete detail of the said debt including the following particulars.

• The details of the account.
  
• All the calculation should be shown of the amount that is owed.
  
• Any copies of the papers to be furnished that shows the payment agreement.
  
• Provide a verification or copy of any judgment if applicable
  
• The original creditor needs to be identified.
  
• The Statute of Limitation needs to be proven for the collection of the debt.
  
• The license of the collection agency applicable in the state is to be furnished along with the license numbers and Registered Agent
  
• Proof of the agreement that the debt collector has purchased the debt or has been hired by the creditor to collect the debt from the debtor as this is the basic contract law.
  
• Complete payment history showing the details of the creditors, payment history, amount of the debt, break up of fees/interest should be provided in paper.
  
• A copy of the original signed loan agreement between the debtor and the original creditor establishing the debt between both the parties also has to be produced.

As your debt is now placed in the collections, you will have to negotiate with your debt collection agency for a payment plan. Contacting the original creditors at this point won't make much difference if they have sold the debt to the collection agency.

After they have sent the details of your account and provided legal validation to it, you have to work on a monthly payment that you will be sending towards payment of your debt. You can negotiate with your collectors for a reasonable amount convenient to your present needs. Most probably, they will be accepting your payment if they don't want to harass you for insisting on larger payments towards your debt.

As you are willing to pay the said debt, things will work out positively and you will be able to clear this account in the collections as soon as possible. Viewing accounts in collections in the credit report is not a good sign for acquiring credit in the future as it shows that you have had financial problems in the past and were not able to pay your debt in time.

Their is one more thing that I will like to suggest you at this point. It is largely reported that Asset Acceptance uses unfair and obnoxious ways to recover the debt from the consumers, sometimes even claim for non-existent debts which were not at all, in the knowledge of the consumers. Anticipating a successful payment procedure, please commit all the correspondence through certified mail with 'return receipt requested' and keep enclosures safely so that you have valid proof to all your efforts made.

I do wish you all the best in clearing all your past debts and erasing the negative remarks from your credit report.

Regards
Roxette

we had a call from Ballys Fitness center stating that we had a debt with them... Under my husbands name my husband called them and squared it away with them because come to find out it was another customer with my husbands name and almost the same social number as my husbands..... It was one number off.... come to find out they did not take care of it and yall are trying to come after the wrong person and collect a debt thats not even ours!!!!! this other person yall are after is in another state and we live in Texas so whats your answer to this????? Im trying to buy a house and its not helping us at all by having this on our credit i cant even find a phone number for yall!!!!!!!!!!

soccermom4u34, please make sure that this is not a case of identity theft. Your husband's identity can be used by some other person for acquiring new credit. This will adversely harm your husband's credit file.

You can activate a fraud alert on your husband's credit file by contacting the fraud department of the three bureaus. Once the fraud alert is activated, your husband's credit file will be alerted if anyone tried to acquire a new credit card, car loan, cell phone, etc.,

The fraud alert will remain active on all the three credit bureaus and your data will be shared internally between them. If you have applied for any pre-approved credit and insurance, your name will be removed from there for a period of two years.

Experience will keep your fraud alert active for 3 months, Equifax for 6 months, and Transition for 12 months. You can keep a 7 year check requesting for victim statement in your credit file. For that you have to prove that you have been a victim of fraud.

If your husband's name is used by someone else for acquiring new credit, then it is a violation of the law and you need to take immediate action

I called asset acceptance to settle on a bill that they verbally agreed to settle with me for 50% and removal from my credit report. I asked them to mail me this on paper and made a payment on that date to keep my offer good. I made this payment twice, however, never received the letter articulating our verbal agreement. Thus I stopped payment. 4 months later I received a letter saying asset acceptance will settle at 50%, so I recontact them. I asked them if they will make good on the previous agreement. They said that was null and void since I stopped payment. I expressed that they did not take responsiblity on their end, but I guess I have to let that slide. Here's the tricky part about the whole situation - the new rep on my account is saying that they cannot erase the debt from the credit bureaus upon payment. This is not something asset acceptance will do EVER! Is this true? And, where are the ramifications for falsely representing themselves to me and negotiating a bad deal? I asked to speak to her supervisor and she hung up on me. I don't know what to do....and to top it off the debt is an energy bill that is actually for the tenant after me...DTE never took my name off the bill after me requesting them to do so every month I received a bill!

I need asset acceptance address to send a letter

Asset Acceptance
box 2036
warren, MI 30349
(815) 569-0400

I obtained a crdit card with Providian with a line of credit for the amount of $200.00. Aproximatley 4 years later Assest Acceptance is harrasing me. They originally claimed that they had filed a judgment against me and that was not true now they are writing me advising that they are going to garnish my wages. They claim that the amount that I now owe is over 1400.00. I mean come on is this legal I never recieved any notification from them until recently and I thought that to garnish wages you had to go to court to have a judge decide that what is going on here. This company from what I have heard is using illegal collection practices and their collections tactics are not ethical. I need help please.

Tiffany, you are aware about the illegal activities of Asset Acceptance. So, you should not get scared and send money to them in panic. I understand from your post that Asset is misrepresenting your account details and threatening to enter wrong information. This is one of the federal violations under the fdcpa laws. Besides, they are bound to validate the account specifying the interest charges and fees added in the total amount. By no means, it can sum up to $1400 on a $200. If it is true, they must prove it in writing. This is one of the purposes of a debt validation process.

BTW, check the SOL of this debt account in case you might have done the last payment long time back. By this time, the SOL might have expired on this debt account. It will be good to work out arrangements with the original creditor so that you don't have to undergo the hassles of this CA.

I am one of the uninformed. Received a letter from Financial Recovery Services. Had no clue what it was for as credit is good and this was a collection notice. Called the number and they said it was a debt from 1989. They could tell me nothing about the debt, just that they were a third party collector (Asset Acceptance) I am sending in a letter to dispute. As I was looking for info on Assett, I stumbled on to this web site. The stories definately make me a bit nervous. Can anyone advise me on what steps I should take, what to watch for, ect?