Asset Acceptance Complaints - Know more about them

Sophie, they won't be able to prove that because they don't have any proof of it.

You can renew the process by asking for debt validation of course through certified mail and with return receipt requested. That receipt number is the most importance evidence of your efforts made.

As far as legal statutes are concerned there are two the federal statute of limitations and state statute of limitations which vary from state to state. The federal is 7 years. For example in Texas the statute of limitations is 4 years but the federal carries it another 3. That means after 4 years (in texas) i cannot be sued, however the debt will remain on my credit reports till 7 years has passed. Once those legal obligations to repay the debt have surpassed the only obligation to pay those would be moral. I'd like to think there are still some honest people left in the world.

I have been receiving calls from AA for several months now. They still call asking for me by my maiden name, not even knowning my married name. THey have even place calls to my parents in a different city. THey have sent mail to my new address as well as an old address. I bought my first home in March of this year, and had a credit check down on three agencies of coures, with nothing being mentioned regarding a copy called Assesst Acceptance. In March, I spoke to a woman basically asking her to send me information that this account is truely mine, as I did not remember having an account with the credit card company that they supposedly were hired to collect this $2000.00 "debt". This credit card debit was reportedly to have occured in 1992 or 1993. I have not received the information from the company and will not take or return their calls. I am now wandering if I should speak to them or to send a letter requesting the validation. Am I just opening a bigger can of worms by playing into what they think I owe them? To tell you the truth I am a little scared and am thinking about just paying them the money. I have worked hard to clean up credit debt from my college years and a painful divorce. I have purchased my home with no mention of this AA Credit Agency, where did they come from?

Hi CC

If a debt really occurs in your name, then the collection agency will hit your credit report and cause the damage. Though they have not done by now, you should ask them to validate the debt. If they are able to provide you with the necessary information about the debt, you can make payment arrangements with them. Remember, that your credit report is not having any marking as of now. But if the collection agency is having genuine debt in your name, they will legally hit your credit file in a negative way.

If no debt occurs, then you have the legal rights to dispute with them and prevent them from doing any damage to your credit.

At this situation, you need to contact them confidently in writing to validate the debt. They need to provide you the following information so that you get a true picture of it.

• 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.

If you wish for a consultant doing the professional negotiations for you, you can register yourself at this site. Counseling is absolutely free and the debt consolidation program will further provide you the benefits given below:

http://www.debtconsolidationcare.com/benefits.html

Regards
Roxette

Thanks for the advice, but have I not already asked them for the proof of the debt via the telephone request. Further, how long does a CA have to try to "do damage" to my credit report. I had the most recent report done in March of this year!!! It seems down right dirty practice for a copy to try to collect money from people who are unsure if they even owe the money in the first place. I have enjoyed finally hearing from other people who have had similiar situations with this company, is this a "legit" company or a fly by night company?

Since you have asked them to validate the debt over the phone, you can't prove it later when asked. If you send a letter through certified mail with return receipt requested, it will have the date when you asked for the required information. They will be forced to send the information if it is genuine or won't send at all. But you have the date of your efforts printed in the CMRRR serial number.

I have not received mail from this company for some time now, how do I get an address and a representative name to send the mail to? Again, I ask does this company have a good reputation or are they merely in the business of bothering hardworking Americans? Is it true this company is in some financial dire straights themselves?

I have enjoyed the conversations and reading the other horror stories with AA. I am still looking to find a solution to this problem: how do I send a ceritfied letter to a PO BOX, I do not have any other address for this company. Again, I would like to know what kind of reputatino this company has before, I send any mail or have correspondence with this company. They called AGAIN this morning and were very rude and nasty. I am not sure how to handle the calls, but I get flustered at the way that I am spoken to. The man on the phone stated: "do you ever intend to repay this debt or are you just going to be a deadbeat". TO that I hung up. I do not want to answer this type of question, but I am afraid that I will blurt something out in anger, I have a feeling that this what they want me to do. They have contacted by parents to try to locate me, as I will not return phone call and have tried to confirm my SS# with them as well. This has been going on long enough for almost 1 year now. I have asked for verification of the debt, over the phone, but roxette has suggested that all correspondence with AA be done in writing. I am not sure that this is even my debt as I can not recall having a credit card with citibank, which reportedly turned over collection to AA. This was supposedly done between 1996-1998, but I was not even able to get the date of the supposed account with citibank. What would the SOL be on credit card debit repayment in the state of Illinois?

Hi Cindycrable

Here is a physical address to contact Asset Acceptance so that you the certified mail acknowledged.

ASSET ACCEPTANCE, LLC
28405 Van Dyke
Warren, MI 48093

Brad Bradley - President/CEO
Ph. (586) 939-9600
Fax.(586) 446-1803

The SOL period in Illinois for legally collecting the debt is 5 years on open contracts and 10 years on written contracts. So, it seems that the said debt is out of the period of statutes.

Asset Acceptance has to put in writing before they can legally hit your credit file. Putting bad information in the credit file of an individual without legal purpose is a violation of the fdcpa law and it causes defamation and financial injury. You can take legal actions against them under section 809 ( b ) of the Consumer Protection Act and sue them up to $1000

Regards
Roxette

Roxette thanks so much for the information. I feel so much better having found this site. You guys have acutally given me some hope, and I have to remember not to let them get me so intimidated with their below the belt tactics

Cindycrable

Trust me, as long as you are an informed citizen using your consumer rights, no one can bully you. You are willing to work in the legal lines; it's the turn of the collection agency to show some legal evidence.

I've also been having a lot of fun with Asset Acceptance.

Basically, the ignored my demand that validate the amount, and then handed me off to another collection agency. At that point I filed a complaint with the FTC.

They certainly are making a mockery of the value of a Better Business Bureau rating. If the current laws aren't working to do something about such companies, it may be time to write to your Senator, Congressmen and maybe even Sixty Minutes.

Link made inactive as per forum rules - Vikas

Hi,

I had an account that was opened in 9/1997. It is now 11/2004. I assumed that my statute of limitations have expired for this account and would no longer be obligated to pay. I suffered for seven years whithout good credit and now have a clean slate. This account was apparently sold from MBNA to asset acceptance llc,who is now actively pursuing collections. Can they do this...I have never made a payment and now the account is close to 9,000k and I am afraid that they will cease my bank account..what are my rights? if any.

Pleeeeeeeease help me

I made an error, it is now 11/2005!

I am apparently a year behind!

LOL

Starting over

I sense that your accounts have been re-aged by the CA so that negative information can be put in your file for longer period. This way, the CA gets a room to file actions against you and pursue collections for longer period.

This is illegal right from the base. Re-aging of accounts is a violation under the Consumer protection afforded by the FCRA Section 605

You had an account that was opened in 1997 and since then there was no activity in it. This pushes it out of the SOL period and 7 years reporting time as per the FCRA.

You have to consult your attorney on this matter and file a class action lawsuit against the company. After you win the case, you will be compensated up to the extent of damages.

You will get an order from the court which you will send to the credit bureau. They will update your file and you will have an increase in the credit scores. I prey that this works exactly the way I have framed here.

they are trying to collect from me from something that has happened almost 10 yrs ago. They keep calling and calling and calling, just a recording to call back. I told them a few months ago, i am NOT speaking about antying and to QUIT calling me. I cancelled my memeberhsip with in the right time frame, I am not going to pay for it. They want me to pay and use another ballys.. hello closest one is over an hour away. DONT THINK SO!