Collection Agencies and Creditors

asset acceptance - problems and how to solve them

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Posted: Sat Apr 07, 2007 1:48 pm Post subject: wrong name and social security number byt correct address

Hello, I received a letter from a collection company trying to collect a debt on the behalf of asset acceptance llc. I recently refinanced my home which I have owned for 3 1/2 years now. The name on the letter is close to mine, but not completely accurate (the last name is close, but still wrong) and I also noticed the last four digits of the debtors ssn is not the same as mine. After getting to know who asset acceptance is through this forum, I am afraid to even contact them to ask them to take my address out of their system. Should I let it go? It's apparent from the last 4 digits of the ssn this is not me. The debt is not showing up on my credit report. Should I throw it away or notify them?

got the wrong person
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Debtcc Points: 100

Posted: Sun Apr 08, 2007 3:35 pm Post subject: Is there anyway to stop these people?

My life is bad enough as it is, I don't need Asset Acceptance hounding me for every outstanding debt I have. They took me to court once already and I had to disclose every little detail about my life to them as a result. If I can't pay the first debt they won judgement for, why do they continue to keep buying up my old debt and chasing me for payments? Yes, I did owe the money to my creditors (not them) and they wrote it off long ago. My credit is already shot! Is there anyway legally to stop them from dragging me back to court over and over? Geesh, the sheriff's summons server said she spent the whole day delivering to people that are all being sued by Asset Acceptance.

Guest

Debtcc Points: 100

Posted: Thu Apr 12, 2007 8:09 pm Post subject: Collection

I suggest you NEVER give a debt collector your bank acct, what you can do is take all $$ out from this acct and close it, or just put how much $$ you want them to have and no more, once you give them your acct number, there's nothing you can do about it. Open a new acct and DO NOT GIVE IT OUT, this is the only recourse you have

DLD
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Debtcc Points: 100

Posted: Thu May 03, 2007 2:19 pm Post subject:

asset acceptance llc claims that they have two debts on me, one from 1997 and one from 1999. On both accounts they were not able to show me any paperwork on them. They are now garnishing my wages! Is there anything I can do to stop them? _________________ Register today to encash debtcc points.

CC
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Debtcc Points: 100

Posted: Fri May 04, 2007 4:02 pm Post subject: Asset Acceptance

I have been receiving letters since 2003 from these people. I have sent at least 4 letters requesting validation of debt of which I received no response. I ran my credit report 2 weeks ago & they were there listed for 2 debts. One was Providian & the other Wells Fargo totalling $5k. I had already notified Providian back in 2002 that I didn't establish an account with them & I never heard from them again. However, they were on my report as well. I've never had anything from Wells Fargo in my life and they were listed on my report too. I disputed the info from Wells Fargo, Providian and both Asset Acceptance items on my credit report about 2 wks ago & sent validation request letters to all of them certified mail. I rec'd a response from the credit bureau within 5 days stating that Wells Fargo & Providian had deleted their file from my credit report due to non validation. I guess my question is "how in the world if the original creditor can't validate is this company going to do it?" They haven't responded to the letter nor the credit bureau dispute yet. They have about 2 more wks & it will automatically drop. I would like to know if anyone out there has had this kind of dealing with these people. I mean they used to call my house stating that they were calling about an existing case that was about to go to court -- left very harrassing phone calls. I haven't rec'd any calls from them in almost a year now. _________________ Register today to encash debtcc points.

terrih
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Debtcc Points: 100

Posted: Fri May 04, 2007 8:23 pm Post subject: Do not pay the account

I was recently buying a home and decided to check my credit report. I found a negative credit item from Asset Acceptance Corp. They stated that I owed money from a Bank of America account opened in 2000. I have never had an account at this bank. They told me that if I didn't pay the account off immediately, they would charge interest on the dept owed. I stated that I wanted to dispute the account. They noted that requesting documentation would take 6-12 months. I asked if I could dispute the account at a later date if I paid the account off immediately to avoid interest. He stated that I could still dispute the account after payment was made. I called back a few days later after talking to Bank of America and finding out that the account never existed. Asset Acceptance corp noted that I could not dispute the account because by paying I validated the debt. I have hired an attorney but wanted to find out if their actions violate consumer protection laws? Was it a bad idea to give them my credit card number? Should I close my credit card account to avoid future scams?

JaschaB
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Debtcc Points: 100

Posted: Sat May 05, 2007 9:21 am Post subject: JaschaB

Once you repay on a debt, it starts to reage. You need to check your States SOL. You could have disputed the charge before payment this is how they catch you. They knew once they rec'd payment that would start the reaging process again.

terrih
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Debtcc Points: 100

Posted: Mon May 07, 2007 9:19 pm Post subject: asset accept

Hello.. some interesting reading on the forum. great source of info, Quick question, can Asset or other collection agencies charge interest themselve for an account that they purchased form an old credit card account? I if they are charging interest, is that still being used as an "open account", not using the last charged item date? I think the debt is past the SOL, unless the interest keeps the sol running so, even tho the accound is under my wifes maiden name and we have been married for 7 years.. thx _________________ Register today to encash debtcc points.

wanger
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Debtcc Points: 100

Posted: Wed May 09, 2007 1:36 pm Post subject: response to wanger

I don't think that keeps it as an open acct. The credit bureaus told me that mine was supposed to drop in 01/2008 for both. I just didn't want to wait that long since they debt was not mine. It is only supposed to stay on there 7 yrs from the last activity (delinquecy) is what the credit bureau told me.

terrih
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Debtcc Points: 100

Posted: Tue May 15, 2007 8:10 pm Post subject: DISMISSED WITH PREUJUDICE

I know that "dismissed with prejudice" means that the Plaintiff can not bring that suit again. However, is that Plaintiff then allowed to sell the debt that was dismissed with prejudice to another company who can then continue to try to collect on it? Thanks

lkcoolk
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Debtcc Points: 100

Posted: Mon May 28, 2007 3:47 pm Post subject: Third party rights are limited

Quote:

LECTURE NOTES
Chapter 15. Third-Party Rights and Discharge

Chapter Objectives
Describe assignment of contracts and what contract rights are assignable.
Define anti-assignment and approval clauses and determine their lawfulness.
Describe a delegation of duties and explain the liability of the parties to a delegation.
Define an intended beneficiary and describe this or her rights under a contract.
Define an incidental beneficiary.
Define a covenant.
Distinguish among conditions precedent, conditions subsequent, and concurrent conditions.
Explain when the performance of a contract is excused because of objective impossibility.
Define and apply the doctrine of commercial impracticability.

Explain how contracts are discharged by operation of law.

Assignment of contracts
Often parties can and do assign their rights under a contract to other parties. The actual transfer of contractual rights is called assignment. An assignor is the obligee who transfers the right; the assignee is the party to whom the right has been transferred.
What rights can and cannot be assigned?
Type of right Assignment
Personal service contracts Generally cannot be assigned
Future rights Do not currently exist; cannot be assigned
Contracts where assignment would
materially alter the risk Cannot be assigned
Legal actions involving personal rights Cannot be assigned
Legal actions involving breach of contract Can be assigned

To protect his or her rights, an assignee should immediately notify the obligor that the assignment has been made and that performance must be rendered to the assignee.
Anti-assignment and approval clauses

* Anti-assignment clauses prohibit the assignment of rights under the contract.
* Approval clauses permit the assignment of a contract only upon receipt of an obligor's approval.

Delegation of duties
Unless otherwise agreed, the parties to a contract generally can transfer the performance of their duties to other parties. Personal service contracts calling for the exercise of personal skills, discretion, or expertise and contracts whose performance would materially vary if the obligor's duties were delegated cannot be delegated. Anti-delegation clauses can be included and are generally enforced.

Intended beneficiaries
Third parties who are not in privity of contract but who have rights under the contract and can enforce the contract against the obligor are called intended third-party beneficiaries. Intended beneficiaries include:

* Donee beneficiaries—a third party to whom a benefit or gift is intended.
* Creditor beneficiaries—an original creditor who becomes a beneficiary under the debtor's new contract.

Incidental beneficiaries
An incidental beneficiary is a party who is unintentionally benefited by other people's contracts. He or she has no rights to enforce or sue under such contracts.

Covenants
A covenant is an unconditional promise to perform.

Conditions precedent, conditions subsequent, and concurrent conditions
Conditional or qualified promises are not as definite as covenants. There are four types of conditions:

* Conditions precedent require the occurrence or non occurrence of an event before a party is obligated to perform a duty under a contract. If the event does not occur, no duty to perform arises.
* Conditions subsequent, if they occur or do not occur, automatically excuse the performance of an existing contractual duty to perform.
* Concurrent conditions arise when the parties to a contract must render performance simultaneously.
* Implied conditions are implied from the circumstances surrounding the contract and the parties conduct.

Objective impossibility of performance
By mutual agreement, parties can decide to discharge their contractual duties. Sometimes contracts are discharged because of impossibility of performance. The following types of objective impossibility excuse nonperformance:

* The death or incapacity of a promisor prior to the performance of a personal service contract.
* The destruction of the subject matter of a contract prior to performance.
* A supervening illegality that makes performance of a contract illegal.

Commercial impracticability
Nonperformance of a contract is excused if an extreme or unexpected development or expense makes it impractical for the promisor to perform.

Discharge of contracts by operation of law
Contracts can be discharged by operation of law under some circumstances.

* A statute of limitations can run and make it impossible to enforce a contract.
* A debtor in bankruptcy may receive a discharge of his or her unpaid debts.
* If a contract is materially altered, the innocent party may opt to discharge the contract.

Terms

* accord and satisfaction—The settlement of a contract dispute. The accord is the agreement whereby parties agree to settle a contract dispute by accepting something different than provided in the original contract. Satisfaction is the performance of an accord.
* anti—assignment clause—A clause that prohibits the assignment of rights under the contract.
* anti—assignment clause—A clause that prohibits the assignment of rights under the contract.
* approval clause—A clause that permits the assignment of the contract only upon receipt of an obligor's approval.
* assignee—The party to whom the right has been transferred.
* assignment and delegation—Transfer of both rights and duties under the contract.
* assignment—The transfer of contractual rights by the obligee to another party.
* assignor—The party who transfers the right.
* assumption of duties—When a delegation of duties contains the term assumption or I assume the duties or other similar language; the delegatee is legally liable to the obligee for nonperformance.
* commercial impracticability—Nonperformance that is excused if an extreme or unexpected development or expense makes it impractical for the promisor to perform.
* concurrent condition—A condition that exists when the parties to a contract must render performance simultaneously; each party's absolute duty to perform is conditioned on the other party's absolute duty to perform.
* Condition precedent based on satisfaction—Clause in a contract that reserves the right to a party to pay for the item or services contracted for only if they meet his or her satisfaction.
* condition precedent—A condition that requires the occurrence of an event before a party is obligated to perform a duty under a contract.
* condition subsequent—A condition, if it occurs, that automatically excuses the performance of an existing contractual duty to perform.
* conditional promise—A qualified promise that becomes a covenant if it is met. There are three types of conditions: conditions precedent, conditions subsequent, and concurrent conditions.
* covenant—An unconditional promise to perform.
* creditor beneficiary contract—A contract that arises in the following situation: (1) a debtor borrows money, (2) the debtor signs an agreement to pay back the money plus interest, (3) the debtor sells the item to a third party before the loan is paid off, and (4) the third party promises the debtor that he or she will pay the remainder of the loan to the creditor.
* creditor beneficiary—Original creditor who becomes a beneficiary under the debtor's new contract with another party.
* declaration of duties—If the delegatee has not assumed the duties under a contract; the delegatee is not legally liable to the obligee for nonperformance.
* delegatee—The party to whom the duty has been transferred.
* delegation of duties—A transfer of contractual duties by the obligor to another party for performance.
* delegator—The obligor who transferred his or her duty.
* donee beneficiary contract—A contract entered into with the intent to confer a benefit or gift on an intended third party.
* donee beneficiary—The third party on whom the benefit is to be conferred.
* frustration of purpose—A doctrine which excuses the performance of contractual obligations if (1) the object or benefit of a contract is made worthless to a promisor, (2) both parties knew what the purpose was, and (3) the act that frustrated the purpose was unforeseeable.
* implied-in-fact condition—A condition that can be implied from the circumstances surrounding a contract and the parties' conduct.
* impossibility of performance—Nonperformance that is excused if the contract becomes impossible to perform; must be objective impossibility, not subjective.
* incidental beneficiary—A party who is unintentionally benefited by other people's contract.
* intended beneficiary—A third party who is not in privity of contract but who has rights under the contract and can enforce the contract against the obligor.
* novation—An agreement that substitutes a new party for one of the original contracting parties and relieves the exiting party of liability on the contract.
* personal satisfaction test—Subjective test that applies to contracts involving personal taste and comfort.
* privity of contract—The state of two specified parties being in a contract.
* reasonable person test—Objective test that applies to commercial contracts and contracts involving mechanical fitness.
* statute of limitations—Statute that establishes the time period during which a lawsuit must be brought; if the lawsuit is not brought within this period, the injured party loses the right to sue.

Research incidental beneficiary on google

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Hosiah
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Debtcc Points: 100

Posted: Tue May 29, 2007 7:32 pm Post subject: debt validation letter

Hi. I got a summons from Asset. I sent a debt validation letter. I sent it so i would recieve a return reciept when they got it. They recieved it on 5/12. There is no set court date when I checked (5/29). The 30 day limit on the summons is up June 7th. I have not heard back from the Lawyer who sent me the summons. Do I have to make a court date or does the lawyer who sent the summons do that?. I would like to get this sorted out, but I do not think it is my responsibility since they sent the summons. What might be the next step? thx in advance _________________ Register today to encash debtcc points.

wanger
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Debtcc Points: 100

Posted: Tue May 29, 2007 11:48 pm Post subject: Asset Acceptance breaking the law

I switched to AT&T & Pac Bell slammed one phone # back. I made calls thinking all lines were AT&T unlimited. Bill from Pac Bell disputed, changed line back to AT&T & refused to pay. "Slamming" is against the law.” Charges disputed with Richard at Asset & requested proof of account. Asset never received proof from Pac Bell. Asset put collection on my credit instead of completing the investigation which I discovered on 5/26/2007-paid in full-contacted Asset, Jim Richardson 800-398-8814 who said a complete investigation was warranted, yet nothing has been done. _________________ Register today to encash debtcc points.

notmydebt
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Debtcc Points: 100

Posted: Wed Jun 06, 2007 11:29 am Post subject: FIGHT THEM WITH ALL YOUR MIGHT

ASSET ACCEPTANCE forged my name onto a Consent Judgement Entry. I have been fighting them for about a year now and I have them on the run. There is a remedy for all of you. First you go to your local court and see what is in your Docket! Civil Rules state that anything in that Docket must be sent to you and a Certificate of Service must be in the Docket to proove that they sent it to you.YOU MUST DO THIS. They are theives and must be stopped! I have them in Court and dismissing my case. I have also sued them myself and suggest that anyone else do the same beacause all Attorneys work with each other wether they are wrong or right! truthfully submitted by, K. Bey

K Bey Notary Public
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Debtcc Points: 100

Posted: Tue Jun 12, 2007 8:16 pm Post subject: This company is using illegal practices

I have had a bill show up on my credit report for a Southwestern Bell Phone bill I wupposedly owed. While I did have a land line with them for like 2 months I paid off my bills in thier entirety and kille dthe service and the account. The collection was started 2 months after my phone was turned off (I had a cell phone) and then shows up on my credit report almost two years later. I had not received any letter from SBC claiming a pst due nor any information from this collection agency. And yes I have verified the information on all three of my credit reports and have had the item in dispute for over a year. This is not the 1st time SBC has done this to people. (look at the amount of class actions against them). They get away with it because people pay off the amount supposedly owed as it is too much of a hassle to do otherwise. Also one more thing I am in consultation with the JAG office where I work.

WTF Number 2
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Debtcc Points: 100

Posted: Tue Jun 12, 2007 8:23 pm Post subject: one more thing

I also sent Asset an email (as I was overseas) requesting information on the supposed debt and they told me taht I must call thema s they cannot go into that information over email. (albiet the email address I was using was on a secure site). They give you the run arounda nd all that.. COurtesy of them Im sure I have had to endure higher than normal interest rates on loans. (I plan on taking them to court then sueing SBC for illegal billing practies) And yes, for those who are going to tell me to look up the law, I have read all applicable consure laws regarding this issue as AOL, had done this same thing to my brother and mother. AOL then tried to do this to me, gave me the run around, so I took them to court and they dropped the collection request. Go figure.