Asset Acceptance LLC will reduce this debt by 70%

You should always pay your debt reguardless of the SOL.

Settlements are final. I have settled 2 accounts with Asset Acceptance and they are reported paid in full on my credit report. It is important that you get your paper work reguardless of the company because if there is a mess up there is a saying.. If it isn't in writting then it didn't happen.

If you wish to settle ask them to mail you a settlement letter. 70% is not a bad deal depending on if they bought the debt or not. If they did then I would try and persuade them at least to 60% If not then they likely have guidelines provided to them by the origional creditor so there will only be a certain percent they can go to.

Also make sure to see if they will report this paid in full or not. I do know they do on ones they have bought.

I do know people have had problems with this company. They will give you a zero balance letter 30 days after you have settled the debt but you must contact them at that time to get it.

FYI, I will have no problems in taking your nice advice only if Asset Acceptance validates the complete details of the debt account. In most cases, the accounts with them are disputed. I am not sure if this company has put all the items to the guest above properly. The main intention of the CA will be to renew the SOL period if the debt is past the statutes. Besides, a payment will also ensure that the account belongs to him even if it was disputed earlier.

I will like to verify all the items in accurate shape before making any payments to the company. I will think twice before sending money to some company who has so many unresolved complaints at the BBB. Have you read this thread?

http://www.debtconsolidationcare.com/forums/about435.html

http://www.debtconsolidationcare.com/forums/about3787.html

Thanks for the response. This debt was incurred by my wife before we were married and I would be glad to dispose of it for 30 cents on the dollar. We have no record of the debt but she knows she did have a card she never paid (Bank 1st, according to AA--I have never heard of this bank) I should get a copy of her credit report, right? And then attempt to get the verification and validation of the record as I have learned in this forum. Like the gentleman said, I am hesitant to pay money to a co. with so many complaints. But I certainly don't want to get sued.

Any more advice will be welcome...thanks, rrw