Asset Acceptance again...
Date: Mon, 10/23/2006 - 10:44
We received a letter from AALLC for debt that they say husband incurred in 1994 for Tandy/Radio Shack. Husband says he may have had a credit card there but doesn't remember. He worked at Radio Shack for a few months at this time, so it is possible. I pulled his credit reports and there is NO mention of this debt on either of the 3. (Probably because it was more than 7 years ago.)
My husband called Asset (before I found this site) and they said it was from a Radio Shack card in 1994 and that Radio Shack had written off the debt in 1996.
I sent Asset a debt validation request from the template on this site. I also added that in the state of SC, the statute of limitations is between 3-10 years (dependant on type of debt) and that I was questioning if this was over the SOL.
Asset responded with an “Account Statement†which says diddly squat. It gives the prior account number and original creditor (which was in their first letter) and the original amount and interest/fees. It also states, “Last Transaction Date: 12/24/99.†We don’t believe that he paid them anything in 1999, and it doesn’t state what the transaction is.
Here are my questions: Don’t they have to give us more detail on these transactions? I was hoping for something like date account opened, payment history, date of last payment, date that they took over account, etc.
Also, I saw several mentions on this site to see if the collection agency is licensed in your state. I’ve found that SC does require the CA to be licensed, but how do I find out if they are? I’m not calling AALLC! (They didn’t answer that part of my letter either.)
Their response to my letter for validation was pathetic. We want to pay if it is owed, but I really think it’s beyond the SOL and they aren’t giving us a lot of info to work with. I've never had to deal with anything like this and I'm learning LOTS. Any suggestions are greatly appreciated! Thanks! :D
Firstly, the debt maybe out of the SOL period if there has been
Firstly, the debt maybe out of the SOL period if there has been no payment activity within the last three years. The debt is still valid but after the expiry of the SOL, any collection agency cannot sue you by taking in the court.
Under the federal laws, when you ask for a debt validation, the information put in the fdcpa should be given by the collector in writing. If you have something to dispute with the info given by, send a dispute letter and request for the info. They will provide it, that won't restart the SOL.
All collection agencies need to have a valid license in your state. You can check the company with South Carolina State Board of Financial Institutions or your Attorney General's office for consumer feedbacks.
Thanks! I'm waiting on the Attorney General's office to call me
Thanks! I'm waiting on the Attorney General's office to call me back...
I just spoke to the FTC who said to contact the Secretary of State about if they are licensed. According to thier website there is an "ASSET ACQUISITIONS, LLC". Anyone know if they're the same? I've been searching the net and found nothing so far to indicate that Asset Acquisitions is related to Asset Acceptance.
BTW: I called the FTC to lodge a complaint and they were WONDERFUL! They were super nice and said that Asset buys "junk" debt to try to collect on. Sounds like they've heard of them...
I'm going to send another letter asking them (again) for the missing items in my first validation attempt and letting them know that I'm disputing. My husband doesn't have any records from 1994, so I have nothing to dispute with. I'm just looking for info that it's even valid. Thanks again!
Goodwife, here is a website that is full of information on crook
Goodwife, here is a website that is full of information on crooked CA (http://www.mycollector.com/) Go there, and click on the archives, "a good place to start if you've never visited the site" or something like that. It is very informative on what the government is doing to many of the CAs that violate the laws.
Thank you for the link, Steelers1. I haven't found the archive s
Thank you for the link, Steelers1. I haven't found the archive section you mentioned, but I saw where AALLC was rated as one of the worst CAs in America.
"Don't be surprised if you notice the date of last activity on your credit report, as stated by AAC is WRONG! Deliberately changing the date of last activity is a way to scam consumers into thinking they are entitled to money they would not legally be allowed to collect." -Sounds a lot like our faux-1999 date of last transaction they stated in their "validation" letter.
I've only skimmed the site, so I'll keep reading. Thanks again for the good info!