There are several complants about Asset Acceptance LLC

Hello, I see there are several complants about this particular collection agency. May I tell you about my experience??

Back in the early 1980's, my wife and I purchased a double-wide mobile home. In the latter half of 1988 we were forced to sell the property because of a job transfer to another state. The property was not actually sold until early 1989, and I had to take out a personal loan in the amount of $4000 to $4500, to make up the difference for what the property sold for and what the loan balance was. Later we received a letter from the loan company that the loan was paid off in full.

Now some 15 years plus later, I receive a letter from AALLC asking for $50,000 but no explanation of what for. I wrote them a dispute letter asking for validation of this debt and sent it certified return receipt. My letter was signed for and I received a response back from them that this was an attempt to collect on the loan I described above along with some $30,000 in interest on top of that.

I wrote back informing them that this supposed judgement against me had past the statute of limitations by now, and that this loan had been paid off once already. They wrote back asking for proof of that. Since I have moved so many times since the 80's, I don't have a copy of this letter anymore, but I wrote back asking for proof I owed this, so far they had not proven anything. The original loan company I believe has gone out of business. On any of their letters to me, they show two different loan company names, but not the original loan company. They have not listed the original loan company on any documentation yet.

I believe the original loan company was bought by another loan company which was then bought by another, etc..

I also went online and filed a complaint with both the FTC and the State Attorny General's office. Last week I received a response from the State Attorney saying that they had been in contact with AALLC and had a copy of a letter from them included, a copy was never sent to me from AALLC, but in the body of the letter from AALLC it stated: "due to the age of the account, AALLC has been informed that it will not be able to get all of the documents that it needs to prove this debt." Why are they sending the very first letter then asking for payment???

In reading through various forums like this, it seems that if you make any payment at all to these companys, you start the statute of limitations all over again. I have not sent any payment to this company nor do I intend to.

Is it possible that they still might try to sue me or take me to court for this???? thankyou for time...

Hi SS

Welcome to the forums. You don't need to worry much about this as the Asset people can only bark on false pretext but cannot cause any harm to you.

Asset people are claiming for an account which has been cleared 15 years ago and your credit reports in all these years have never reported about such debts. It is for sure that Stature of limitation has crossed for collecting this debt and there is also one strong point towards you which puts you in the driver's seat. Your creditor is not existent now and that they have never contacted you so far for collecting if this debt was ever existent.

If they repeatedly contact you, please write a letter to the asset to verify this debt and you will take action only if the said debt has been validated. Moreover, they are restricted from contacting you for invalid reasons and can be sued for this activity.

Please let us know if we can further assist you in any other way to a peaceful life

Regards
Roxette

who the hell are these people from Asset. I just found out that there is a judgement against me. Hope they have good luck finding me. I don't owe anyone money.

Hi HHZZ

Welcome to the forums. As you have stated that you don't owe anybody, it is necessary for you to take a help from your attorney.

Please ask Asset to validate your debt and do further communication with your attorney only.

There is no point of sending a judgment notice to someone who has already paid his debt. These are fraud activities and please take advice of your attorney regarding this matter.

Please let us know on this board how we can assist you further in your queries.

Regards
Roxette

HI ! I had to post a reply in Regards to Asset. They got 2 Illegal judgements against me 2 years ago, while I was going thru a foreclosure. My story is a long and involved one. They filed both of these judgements in the Wrong county (My town borders on 3 different counties) I was not aware of my rights at that time, but I did know that a Case needed to be filed in the county in which you live) anyway I sent a letter to the court advising them of the fact I did not live in that county. And never Received anything else. Then 2 years later find out they were trying to garnish my wages!! So don't think Asset won't do anything! they Do! These Debts are both 15 years old ! Anyway from the line of work I was in I had learned alot more about My rights as a consumer.
So with the help of a friend I have filed to have both of these Judgements vacated. They subsequently moved 1 of the cases to the proper county.
The other 1 they left in the WRONG county. Asset's Attorney Showed up with an "Agreed Entry to DIsmiss"
BUT WITHOUT predjudice. My 2nd Case has been continued
for the 3rd time!!! to July 19th. Any input is much Appreciated!
Thank you

Krista

Hi Krista

My suggestion to you has been posted in this thread. Please have a look.

http://www.debtconsolidationcare.com...bout160-2.html

Hopefully, you will win the case as they will fail to produce all the necessary documents needed to show in the court.

Regards
Roxette

I too have never heard of these people before but I'd been recieving phone calls from Equinox at all hours of the day. I just happened to be here to answer one of them and they informed me that I owed over $3000 to AALLC whom I had never heard of. Naturally I got rather irate and asked who AALLC was. They said it was a debt collection agency trying to collect a debt from 1995 for a utility bill. Needless to say, any utility bill isn't over 3 grand, they shut you off. Oh no, this was almost 90% interest. But they informed me AALLC was "gracious" enough to accept a 50% payment and it would be all good. Well in the first place I informed her since that was about 3 months wages for me, don't hold your breath. In the second place, it's been over 10 yrs. and I NEVER recieved anything saying I owed this money, I don't take a bill collectors word for anything. Well I got a letter from Equinox today with the half off offer, not happening. How do I find out about the statute of limitations on this? I no longer even live in that state, which state do I look at? or is it a national statute.

Shelly, this is an example of the junk debt bought by Asset Acceptance. Your debt is past the SOL period and also past the 7 years reporting time. If you pull the latest copy of your credit report, you won't see this account mentioned.

Send them a cease and desist letter through certified mail with return receipt requested. Keep the serial number of the receipt in safe place to prove your efforts made. And lastly, you don't need to tense yourself for this.

The debt SOL is 1992, reporting SOL is 1999 if California's R/SOL is still 7 years 6 months. Can you verify this for me? If I send a certified letter w/ receipt, are they obligated by law to cease in their efforts in collecting this old debt? Is there an inclusion of any specific language that I need to use in this letter other than both SOL's and to cease? They have sent notices recently but I tossed them. I requested their mailing address during a recent phone call, but they side stepped the issue. Hopefully, they'll send another notice soon. My credit score is 765 and I plan to keep it that way. Perhaps they ran a recent check on me and figured that might scare me. It did, which led to my verifying the R/SOL. I'm also now aware that they in violation of sect. 807(5) of the fdcpa for threatening to report the old debt to a credit buruea. I've also learned that by making a payment pertaining to this old debt would seriously damage my credit for years. Thank you, Charlie

Could you please verify for me that my recent sent email reached you. Thank you, Charlie

Hi Charlie

Welcome to the forums.

Statute of limitation is calculated from the date of last activity in your account. The statute of limitation is a civil code and each state has its own statute.

In California, written agreements go out of the SOL period after 4 years and oral contracts go out after 2 years.

Your debt seems to be out of the legal collection period and you can't be forced to undergo legal actions. But remember, not to renew the SOL by making payment towards the account. Here is an example of how your letter should be drafted.

Source: fair-debt-collection.com/Disputing_Collections/SoL-dispute-letter.html

Thank you for a 90% favorable reply. I need to get a clarification on the oral contract, as my stomach is now in the pit of my throat. Subsequent to the day earlier this week when I spoke with the C/A rep and she threatened to file an adverse credit report on the debt, I called them back out of fear that they might be able to do as they declared. I called back the next day and asked what was the ammount owed was. Informing me that the conversation was being recorded, the rep proceeded to inform me that they could arrange a payment plan. I told them I needed time to see if it was possible for me to work it out, and I informed the rep I would phone him the week following Thanksgiving. I did not however, orally agree in any manner to make a payment, and the recording will reflect my claim. I think I'm ok, but I would sleep alot better tonight knowing for sure. Could you get back to me asap? Thankyou very much for the cease and desist letter. Anxiously awaiting your reply. Charlie

Charlie

Do read this article and know more on the SOL subject.

http://www.debtconsolidationcare.com.../know-sol.html

You have not agreed to them in making the payment. It is nowhere evident in this statement.

Sleep well and happy Thanksgiving!

Thank you again! You have saved me a great deal of anxiety needless to say. The internet is a wonderful and remarkable technological wonder that allows people from all around the globe to access virtually any information they may choose, to educate themselves, and to share that information with each other, to help and aid one another. Happy Thanksgiving to you and your family as well. Thank you again, Charlie

I tryed to get their address from the but they refused to provide for obvious reasons. The rep would only volunteer the company FPRC. Do these companys attempt to conceal their locations until you have agreed to an oral contract typically? Thanks, Charlie

What is the name of the agency?