Asset Acceptance LLC - Consumer complaints and ways to deal with them

Hi,

I've been fighting Asset Acceptance for several months about an old bill from SBC that I never opened. It was opened in LA in 2002 and I've been living and working in NYC since 2001! I disputed it through the credit reporting agencies, I tried to contact them about the bill and how to get it off my report because it is a fraudulent account and they just told me I have to pay it (even though it's NOT mine!!) They said that they would send dispute forms, but all I got was a letter saying that I contacted them to let them know that it was already paid (a total LIE!!), and that they were requesting proof of payment. I sent them the police report, and a declaration that I did not own the account, and it is still on my credit report! I also filed a complaint with the FTC, but all I've done so far is filed complaint after complaint and sent affadavits...and this is still on my credit report and affecting my score. I even saw that they had an inquiry for collection purposes on this disputed account recently! I'm at my wit's end, what else can I do?

Seems you have to get it removed through credit bureaus. Fraudulent entries cannot stay in your report. Send them a detailed report of all the communications you have with Asset and CRAs so far. Attach copies of police report and all the other documents you have. It is credit bureaus' responsibility to investigate the item and rectify it.

You can also consult a lawyer if the item is not removed this time.

I recieved a letter from asset acceptance llc, stating I owe $340. After calling them, they claimed this amount is from a loan made in 1996. First of all, I've never heard of Credit America. Upon researching "Credit America", I've found it to be a credit card scam from 1987. The people perpetrating the scam were convicted in 1990. Secondly, I've never recieved a loan of any sort or even a credit in 1996. What do I do? Do I report Asset Acceptance LLC to the Better Business Bureau?

It is Citi Banks policy to not remove negative grades from your credit score. They will however upgrade it to a PAID or SETTLED. Asset Acceptance usualy reports PAID in full on settled accounts. At least they did on mine. But it did not remove my original r9 mark. But an r9 paid is better than an r9 unpaid.

TTOC

The debt in question is past the FCRA reporting time even if it is legitimate. It shouldn't be there in your file. If it's there, dispute with the bureau and get it removed from the file

I just got a letter from asset acceptance llc that states that I owed $491.95 to an unspecified creditor.

This is the first correspondance I have recieved form them yesterday. (5-22-06). I have never heard of the collection agency and thought it would be fraudulent because I recently applied for a signature loan at my credit union and they ran a cr and nothing from this company or the uncpecified creditor was showing up and nothing in this exact amount(495.91). So, I am thinking about tossing the letter.
Contacting them will give them necessary information (i.e. a return adress and will open the door to other personal information they will need to raid my account, obtain my credit information, seize whatever assets I have). I DO NOT OWE THIS MONEY. Why do I need to inform them of that? What if they take the next step and start reporting to the bureaus ? It could take weeks To resolve a negative mark! I have read all of the forum entries gleaning what solace and information I can-- assuming that each post will help new victims, like myself, arm themsleves with all the information they need to fight this company or at least expedite the bureacratic process of clearing up the damage caused. But, I don't have weeks, and I can't afford a lawyer. Is just ignoring it an option?(maybe a wait-and-see stance?)Or do I need to be preemptive and send letter and make phone calls and get verification and seek legal counsel. Does it make sense to do that for something that has nothing to do with me? What's your best advice on how to proceed? And what is the adress of the attourney General mentioned earlier. (Mike Cox/attourney general --Michigan)

Hi cajam071

The federal authorities have numerous complaints against Asset Acceptance. If you do not respond to them, they will possibly take the matter to the court and try to prove that you were escaping from paying this account. Summons might be served in your name and you will fall short of documentation that could have proven your side of the story.

In case, you do not appear in the court, the judge will think that you are showing your avoidance towards a legitimate debt and issue a judgment against you. I will insist you to do everything you can prove to fight with this company. Be aware of your legal rights so that you don't get victimized.

Send all your letters through certified mail with return receipt requested. This proves that you wanted to get the details of the debt and the company failed to verify it. Ultimately, you need to have your basis covered while dealing with one of the worst collection agency around.

These SOB's are after me for an account that is not mine. I was a victim of identity theft a few years ago. I thought I had it settled, but then Asset Acceptance, LLC shows up on my credit report. They refuse to provide me with proof that this account is mine, and they can't even get their lies straight on all three of my credit reports. So I am going to sue them.

And Jay sounds like he works for them. Beware, Asset Acceptance, LLC trolls around these sites and they do post in their behalf. They are that sneaky.

They are crooks, they are liars and they are very tricky. Everyone should sue them.

I received a phone call from asset acceptence on a credit card balance I had defaulted on 14 and a half years ago. The yasked that I pay at least half of it in order to start a payment plan. In the meantime, they have already sent garnishment papers to my employer. Dont you think I should have had certified mail or something indicating their actions? I offered immediately over the phone to set up an instant payment and continued payments, but the said it was too late. I dont want to be garnished. Any steps I can take? And soon?

Under the laws, wages cannot be garnished without a court hearing. Legal summons must be served to you 20 days before you show your appearance. Check your local county if legal papers have been filed against you. Some companies use fake papers giving it a legal shape. Also, check the latest copy of your credit report for a legal garnishment. Let us know so that we can move further from that point.

BE AWARE Asset Acceptance sends false summons to appear in court. They have been caught doing this several times. They also file false 1099's with the IRS and they are now being investigated for this. Use extreme caution when dealing with them.

This company has a P.O. Box address:
asset acceptance llc
P.O. Box 2036
Warren, MI 48090-2036

They also have their physical address:
Deb Everly @
Asset Acceptance LLC
28405 VanDyke Ave
Warren, MI 48093

If you write a dispute letter to this company, they will not give you the information you request (original creditor), they will simply send you a "generated" letter stating that they will give you 30 days to respond to their request.

This Limited Liability Corporation is a valid company however, they do not seek to help those of us who dispute the valitity of the debt in any way.

The minute you set up "any" type of payment with them, even if it's a dollar a month, they can come after full force. In essance you've accepted the debt as yours and that gives them free reign under the Fair Debt Practices Act to come at you with everything they've got.

For those of us who have placed fraud alerts, the company will simply send you a letter requesting that you send them the following information.
A letter from the original creditor stating the account is fraud. (if you don't know who the original creditor is, because Asset Acceptance refused to give you this infrormation, it can be a very daunting and time consuming task).

A copy of a police report stating fraud or ID theft. (for those of us with children who share the same name with no Sr. or Jr. after it, and the child has access to our SS #'s because of military id, this too is and impossible task).

A noarized farud afidavit, which must be (per Asset Acceptance LLC)to be only obtained from the FTC.

A copy of the Credit Bureau Fraud Alert stating the tradeline will not be reported dut to fraud.

This company purchases old and outstanding debts from other companies (for pennies on the dollar I might add) and then goes after the debtor....they couldn't care less if the debtor has had their accounts flagged with fraud alerts....they fully expect you to spend countless hours and money getting them the information...all the while continuing to threaten and harrass you.

I wish all who have dealings with this company the best of luck.

They were harrassing me a couple years ago about a 10 or 12 year old credit card charge off. I researched the Fair Debt laws, sent the letters requesting verification (which I never received, thirty days later wrote & told them to never contact me about the debt again. The past couple weeks I have been getting messages on my phone from them...won't call them back, but am expecting another collection letter any day....I know I don't have any current past due accounts, so this is probably the same old stuff.

PPP, the statutes have already expired on this account. So you can use the legal methods while dealing with Asset Acceptance. Under the federal laws, the company must give you the details of the debt in writing. Check your mail if they have sent you anything. Then, you can notify them about the expiry of the SOL. Send your letter through certified mail with return receipt requested. Some CAs try to file a case against the consumers who do not reply them. Since you are aware of owing them nothing, they will try to prove your ignorance in the court. Later, the judge can force you to pay this account. Keep letters documented so that you have covered your legal basis and take care of the matter within the legal norms.

Justme...Thanks for the vote of confidence. I hope they don't send me anymore collections letters, it is so stressful to have to deal with them or any collection agency. During this same time period I also received the same type of letters from Genesis Financial Solutions out of Oregan, sent the same letters to them and so far they have not attempted to contact me again. Maybe they sold to Asset. I am so glad I found this site.......