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Yet another Asset Acceptance Problem

Submitted by uziel on Fri, 03/11/2005 - 11:21
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Hello, I'm new to the forum here and thought I would share a problem I've got and see if I can get some straight answers.

The problem is this- about 8 or 9 years ago, I was encountering MAJOR financial difficulties which resulted in most of my credit accounts reaching "charged off" status. I made payments on what I could when I could, but nothing ever got cleared up.

Now, after having returned to school and graduating, I'm starting to try to repair my credit. I figured most of these old debts would have disappeared by now, since more than seven years had elapsed. Most of them had, in fact stopped showing up on my credit report. The ones still there I subsequently disputed, and they disappeared as well.

Once I had all the old reports eliminated, I set about opening some accounts in order to maintain a positive credit history. I've been monitoring my credit reports from time to time in order to ensure that things are as they should be (I use My Fico to obtain quick copies of my reports) and have been shocked to discover that recently one of the old charged off accounts has "reappeared" on my Experian report. A list of entities accessing my report information includes Asset Acceptance, LLC.

Oh yeah, something else... The "date of charge off" listed on the Experian report is LAST YEAR, even though the original account reached charged off status OVER EIGHT YEARS AGO. What gives? Is this legal?

Sorry for the long post.


Hi,

Welcome to the debt consolidation care forum.

Quote:

have been shocked to discover that recently one of the old charged off accounts has "reappeared" on my Experian report


It is natural for you to feel depressed and shocked to see a false marking in your credit report. Nowadays, false marking in a credit report has become quite frequent.

You should immediately report it to the Credit Bureaus and get the false marking amended. Have you seen the other credit reports of Transunion, Equifax? Check it out whether they show the same marking error or not.

When you approach the Credit Bureaus carry some documents if you have as a proof that you are not in debts. This will give you an extra edge to put forward your views.

In case of disputes in the Credit Reports view some related threads in the 'Credit Repair ' section of our forum.

http://www.debtconsolidationcare.com/forums/about209.html

http://www.debtconsolidationcare.com/forums/about208.html

http://www.debtconsolidationcare.com/forums/about207.html


Quote:
The "date of charge off" listed on the Experian report is LAST YEAR, even though the original account reached charged off status OVER EIGHT YEARS AGO. What gives? Is this legal?


No, this is absolutely not legal. After a span of seven years your credit status is not reflected in your credit reports.

Quote:

Sorry for the long post.



:) No problem at all with your long post. Feel free to do so in future also. We are here to help you all the time. Hope you frequently visit our forum and keep us updated with your experience and knowledge.

Regards,
Jason


Submitted by Jason on Fri, 03/11/2005 - 20:13

Jason

( Posts: 2430 | Credits: )


This year Asset Acceptance took me to court for 1,874 but I only owed about 1400 they said they would change the amount and agreed to monthly payments. What I did not know is that they are charging me interest and did not change the balance they are still charging me the 1,874 plus interest. What should I do? I'm new at this and don't know what to do.


Submitted by on Tue, 02/23/2010 - 14:56

( Posts: 202330 | Credits: )


Hi, Guest, firstly I would like to know that, whether you have got anything in black and white or not. Did they state the agreed amount somewhere?

When you go ahead for a settlement with creditors or collection agencies, you need to confirm the proposal in writing with their signatures on it. You can send them a Letter of Acceptance of debt settlement offer along with Debt Settlement Agreement Letter, if you??? re having it.


Submitted by on Wed, 02/24/2010 - 02:50

( Posts: 202330 | Credits: )