Collection Agencies and Creditors

asset acceptance - problems and how to solve them

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Posted: Sun Jan 29, 2006 7:05 pm Post subject: Asset Acceptance

Asset Acceptance, LLC 28405 Van Dyke Ave. Warren, MI 48093 YOU MUST SEND CERTIFIED AND REGISTERED MAIL. BOTH!!! Don't forget to file a complaint to Mike Cox, Attorney General of MI (you can file online) _________________ Register today to encash debtcc points.

Chuck
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Debtcc Points: 100

Posted: Thu Feb 09, 2006 12:02 pm Post subject: interest fees

Hi I have a few accounts with Asset Acceptance and have asked them to send letters stating the balance and interest being charged. Needless to say I have not received anything but a whole lot of nasty phone calls at work from one Linda Hansen. What can I do to get those letters with the information mailed out to me? _________________ Register today to encash debtcc points.

Veronica
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Debtcc Points: 100

Posted: Thu Feb 09, 2006 12:19 pm Post subject:

Hi Veronica! how have you sent the statement request to Asset Acceptance? If you have sent it through certified mail with return receipt requested, you must be having the green slip signed by them ensuring accurate delivery. This receipt can prove your legal side asking for validation of the account and the CA has failed to honor your request. To make things look more legal, use a debt validation letter available in this forum for getting the accurate picture of your account and to know that the CA contacting you is having a legitimate purpose. You should know it in legal terms that they are the ones authorized to collect the debt from you. In case, the collection agency takes the matter to the court (though they never will because they failed to validate your debt), the green slip signed by them will be an important proof for getting decisions made by the judge in your favor.

curlycarl
Debt Samaritan

Joined: 21 Jan 2005
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Posted: Thu Feb 09, 2006 12:54 pm Post subject:

Thank you so much for your help. I will be sending them that debt validation letter and see what happens after that. _________________ Register today to encash debtcc points.

Veronica
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Debtcc Points: 100

Posted: Thu Mar 02, 2006 3:46 pm Post subject: Debt Collection Attempt - Asst Acceptance

I received a notice about a debt from 20 years ago. This debt has never been on my credit report nor have I ever heard from the creditor. I wrote to Asset and asked for proof of the debt, the response I got said the last transaction on the account was 1986. I checked with a lawyer who told me there is a statute of limitations on collecting a revolving charge debt and 20 years ago is way beyond the statute of limitations in any state. I was also told not to make payment arrangements or pay them a penny because that would start the statute of limitations over as of the day I made those arrangements and they could put the debt on my credit report. The lawyer also told me that if they take me to court, all I had to say was the statute of limitations has passed and the case would likely be dismissed. Should I write to them again and tell them I am not going to pay it because the statute of limitations has passed? I don't want to get into a long drawn out process with them. _________________ Register today to encash debtcc points.

Judy
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Debtcc Points: 100

Posted: Thu Mar 02, 2006 3:50 pm Post subject:

Hi Judy, I would definitely consider writing them and explaining that it is past the statute of limitations. There is nothing they can do about it, and it shouldn't be on your credit report at this point. If they want to take you to court, they will more than likely be laughed at by a judge. I would recommend sending a letter through certified mail, return receipt requested, to be sure they receive it. Please keep us updated, this is an interesting situation! ~Mary

Mary
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Joined: 23 Jan 2006
Posts: 1462

Debtcc Points: 22221

Posted: Thu Mar 02, 2006 3:56 pm Post subject: 20 Year old Debt

Thanks Mary. Needless to say I was shocked when I got that letter. The whole situation was funny to begin with...I moved and notified the creditor of my new address. I drove 2 hours each way for 3 months in a row to pay the bill, each time changing my address in person. When the 4th month came and I did not get another statement, I blew it off because I was not driving 4 hours to pay a $35 bill. I never heard from them again nor was it ever on my credit report. This is the first time I have heard about this debt in 20 years. I will let you know what happens. _________________ Register today to encash debtcc points.

Judy
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Debtcc Points: 100

Posted: Tue Mar 07, 2006 4:12 am Post subject: Asset Acceptance

I have a collection for 20K listed on CR from Asset. They purchased from Household credit. Household wrote off for 15K. I must clear for my security clearance at work. If I pay Household full amount am I in the clear? I have no problems now (thank goodness) and would like to clear this remaining black mark on credit, but don't even want to deal with Asset, but looks like I am forced to? Also if I have to deal with them, is there any evidence from anyone that they will change to paying as agreed after a few payments? It is terrible because it come off in 12/06 on credit report, and past SOL, but employer looks at it as debt, so have few options now? Any suggestions appreciated. _________________ Register today to encash debtcc points.

Globetrotter
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Debtcc Points: 100

Posted: Tue Mar 07, 2006 12:12 pm Post subject:

Quote:

It is terrible because it come off in 12/06 on credit report, and past SOL

If am not wrong, your debt is past SOL and going to get off your credit report in Dec 2006, right? Then why are you disturbing the system? You are not legally obliged to pay a past SOL debt. And if the account is charged-off, it is likely to be updated as paid charged-off which is slightly better than charged-off. So think twice before paying.
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stanley
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stanley

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Posted: Thu Mar 09, 2006 9:30 am Post subject: Remove my neg.

Last year I did a credit check in feb; I found the Assets Acceptance LLC as a new negative mark. I had never recieved a phone call or letter indicating that I owned or held a bad debt. I called them and it turned out that I had an electric bill that didn't close until three months after I had moved. I paid them $480.00 over the phone on 2/10/05. I wanted to dispute the information but I don't think I could prove that I had canceled the electric when I moved. My real problem with this is: 1) I didn't hear from the electric company or Assets Ac. LLC ever- 2) After I paid the debt in febuary the account remained open in collections until April 3) Even after I paid it and the money was removed from my account I never recieve a letter confirming the payment of my account. What can i do to at least make my credit report accurate? _________________ Register today to encash debtcc points.

JohnK
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Debtcc Points: 100

Posted: Thu Mar 09, 2006 12:27 pm Post subject:

JohnK, Since it was a telephonic conversation it will be tough for you to prove that you paid the bill to them. Keep the bank statement with you; it can be served as evidence that they received money from your account. Have you asked them for receipts of your payment? Call them up and see how they respond. You can also ask them to update your credit report properly. If they fail to respond dispute it with credit bureau. Bureau will open an investigation and will update your report accordingly. You can send copy of your bank statement to bureau to enhance the investigation process. Send the dispute letter through certified mail with return receipt requested. Keep us posted. _________________ Read my thoughts about Debt and Credit.

stanley
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stanley

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Debtcc Points: 253

Posted: Fri Mar 10, 2006 5:38 am Post subject: Asset Acceptance Settlement - Help!

I have only one black mark on my credit. Asset Acceptance until 01/07. Unfortunatly, my employer the govt, goes back 7 years for clearances, and mine is due. I have to list this debt and make settlement. Tough thing since it is past SOL and only 6 mos. to drop off report. Question is: The guy as Asset was also oversea and seemed professional to deal with as I was expected a battle after everything I read here. They will send me a debt validation. Told him I could not deal with this old loan until I knew they bought it. No problem, it can dealt with lump sum, over 3 payments, or payment plan. Naturally he said the lump sum they can give bigger discounts. What is the best way to handle this to get my credit report not to say "paid charge off for 7 years". He tells me they own it and can make that part of the settlement, and it would be marked PAID. This was for 15K originally, but 20K with their charges. Don't know if to settle or pay payments, but I am in a catch 22, I have to deal with it before I submit this package for a clearance. Any thoughts would be appreciated. _________________ Register today to encash debtcc points.

Globetrotter
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Debtcc Points: 100

Posted: Fri Mar 10, 2006 5:49 am Post subject: Asset

Stan, You are right. The reason it is terrible is because for the government to give you a security clearance you have to list all debts in the last 7 years, and there has to be dispostion on it. I am screwed because I have to take care of quickly and I have to turn this information in in June, so kinda of stuck. I made another post on here for any suggestions. At this point I just have to resolve however I can at the best advantage. _________________ Register today to encash debtcc points.

Globetrotter
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Debtcc Points: 100

Posted: Fri Mar 10, 2006 12:44 pm Post subject:

If the debt is past SOL, you can directly tell them stop contacting you and you are not going to pay a past SOL debt. Moreover it is going to get off of your report within 6 months. However, if you decide to pay it back because it is your debt, then try to get everything in writing. They have told you it will be reported as paid, right? You have to ask for a written statement as well. Once you get a satisfactory agreement, you can pay it back. I will go with lump sum payment and avoid the risk of getting defaulted again. Keep us posted. _________________ Read my thoughts about Debt and Credit.

stanley
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stanley

Joined: 30 Sep 2005
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Debtcc Points: 253

Posted: Fri Apr 07, 2006 2:30 pm Post subject: past debts.

I had a bill from asset and was ordered to go to court. I went and denied the bill and the SOL was up on it also and the set it for a mediation hearing. Well Asset never even showed up to the mediation and i got a letter where they dropped the bill and it isnt on my credit report. So never pay anything that is SOL or attempt to make payments because then it goes on your credit report again from the first payment. Just denie it and let it go that way. Sandy _________________ Register today to encash debtcc points.

angelblue_34205
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Debtcc Points: 100

Posted: Fri Apr 07, 2006 10:39 pm Post subject:

Great angelblue This is exactly what they roll the dice on -- that you won't show up at court, and get a default judgement. _________________ Register today to encash debtcc points.