What do I do if Asset Acceptance collects an account I do not owe?

Hi Dawn
Welcome to the forums

You have paid one Pacific bell account which was an identity theft account. But as it is still appearing in the books of the company you should ask them about the debt rather you should ask them to validate the debt.

As per the Federal law they are bound to give you a response in writing about this. Also send a complaint letter to FTC stating in detail about the incident. They will take necessary actions if they found that the company has resorted to any unfair and illegal steps.

In addition if the company validates your debt and if it is found that it is a valid debt then you have to pay off the debts as soon as possible.

Hope you will find this information useful

Regards
Peter

i keep getting a bill from asset acceptance saying i owe 817.56. I have not nor do i have an account woth pacific bell/sbc. So i dont know how this came to me. How can i clearify this.

Hi Edward

Welcome to the forums. Please call Asset Acceptance at the customer care cell (1-877-768-9844) and request them to verify the said bill providing the following information:

• 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 Asset Acceptance fails to provide you the following information regarding this bill, then you have the right to get it removed from your credit report.

Please get this needful done immediately because it is hampering your credit file regularly.

Regards
Roxette

Thank you for all this info I am going to send this out to them now requesting this information.

I got a letter from asset acceptance llc saying that I owe $699.81 and the pay off bal. will be $209.94 I never had this credit card of heard of this company .

I got a letter from asset acceptance llc saying that I owe $699.81 and the pay off bal. will be $209.94 I never had this credit card of heard of this company .

Asset buys charged off accounts form credit card companies and other creditors. Your letter should state who the original creditor is. Regardless, you need to send them a request for debt validation (DV) w/in 3o days of receipt of their letter. What state do you live in? Have you pulled your free credit reports yet?

Yes, as others have said, ask for validation. I have had some experience with these folks, as they had one of my husband's old debts. We asked them for validation, and they did not send us proper validation. Basically, they just sent us another letter with the same information as all the other correspondence..."Here is how much we say you owe and this was the original creditor." They never provided information any documentation where my husband agreed to pay the debt, details on how the balance owed was figured, etc. When we threatened to take action against them for not validating the debt or removing from my husband's credit report, they sold it off to someone else to deal with! Asset is one of those that we call "junk debt buyers"....they specialize in buying debts that others cannot force collections on (i.e., they are outside of the statute of limitations, so all they can do is pester you, but they can't sue) for pennies on the dollar, and using various tactics to get people to pay. If they can get just 25% of the people to pay 25% or more of their balance, they make a huge profit. On debts that turn out to be too much trouble, or the folks know their way around the law, they sell those off for what they paid for the debt, which is probably something like $5 to $50 for the total debt to start out with (which is how they can get away with offering such settlements as they do).

Asset Acceptance is a debt purchaser, not a seller of debt, so I would have to call someone a liar if the say Asset sells debt. Now the original creditor can "buy-back" an accout that they sold for various reasons, ie. comsumer filed banko, is deceased.

When it comes to debt validation, all the company has to provide is original creditor info, and balance info (principal vs. interest) the burden of proof is on the consumer to prove the account is not theirs, in most cases some sort of proof that the account has been paid prior to being purchased by Asset, or some sort of documentation regarding id theft.
Asset doesnt buy "junk debt" . Lets say the make a purchase from citibank they may purchase 1million accounts, now some of the accounts may be 10, 15, 20 years old but that would be a very small percentage of accounts, most accounts are within the statute of limitations for suit, Asset is a suit driven company, most of their profit comes from suits

By selling the debt that they deem is uncollectable to another JDB makes them a "debt seller".

In regards to burden of proof being with the debtor please prove that you do not owe me the $5,000,000 that I claim you owe me. By your statement I am now $5 MILLOION richer and it was all based on a lie.

In our legal system the party making the claim has to prove that the money is owed. They only thing the "debtor" has to prove is the defense.

You take me to court saying that I owe you money and you cannot prove it YOU LOSE.

Assest was never able to prove their claim against me, they only came up with self made documents stating that I owed them. That is not legal proof, refer back to the $5 million.