Asset Acceptance LLC is a collection agency headquartered in Warren, Michigan. They purchase and collect charged-off consumer debts. They claim to help not just the creditors in recovering defaulted consumer debts, but also the debtors in resolving their financial problems. Check out the following section to know what sort of problems consumers have faced while dealing with them and how you can take care of such problems.
Asset Acceptance complaints - How should you deal with them?
Despite having an excellent BBB rating of A+, this collection agency has a number of complaints against them. Given below are some of the complaints consumers have against them and the various ways to deal with them:
Collecting debts past SOL: A consumer complained in the DebtCC forums that Asset Acceptance collection agency (CA) tried to collect on a debt that was past the Statute of Limitations (SOL). This debt, almost 20 years old, did not even show up on his credit report and the original creditor had never contacted him to recover it! Know more.
In case the collection agency is coming after you to collect a debt that has crossed the SOL, let them know that you are aware of expiration of the SOL on the debt. If required, you can also send them an SOL expiration letter. Collection agencies are not allowed to carry on with their collection activities on debts which are past SOL.
Unauthorized withdrawal: A customer says that the CA debited $773.80 from his girlfriend's account without prior authorization. When he contacted the company regarding this withdrawal, they admitted having taken the money out of her account without authorization. They also denied to refund the money. Get the details on this.
To avoid such a situation, you need to make sure that you do not disclose your account information while talking to a company representative. In case they still manage to get your account information and withdraw money from the account, you should contact your bank immediately and fill out an Affidavit of Unauthorized ACH Debit to have your account re-credited. It is always advisable to close the account and open a new one because chances are that the CA may again withdraw money using the same account information.
Collection of non-existent account: A person says that Asset Acceptance collection agency contacted him regarding a Fingerhut account worth $25000. He claims that he never had any account with Fingerhut. When he contacted Fingerhut and they told him that he indeed had no account with them! But the Asset Acceptance representative was in no mood to listen to the customer and threatened to report the account to the credit bureaus. Find out more.
If the CA contacts you for an account, the first thing you should do is to send them a debt validation letter. Let them first validate the account and prove that they indeed have the legal right to collect it from you. If they cannot validate the debt, you are not liable to make any payments to the CA.
Collection of a fraud account: A customer claims that Asset Acceptance LLC came after him to collect a fraud account. He says this account was wiped off his credit report and he even has a letter from the original creditor stating that he does not owe this debt. But the CA did not listen to him and insisted that he had to pay it off. Check it out. In case you've fallen victim to identity theft and fraud accounts have been opened in your name, you should file an Affidavit of Fraud. The company concerned will carry out an investigation to determine if your claim is true.
If your claim is found to be true, you'll receive documents from the company stating that you do not owe this debt. Keep these documents handy so you can produce them if the CA comes to collect it from you. If the CA reports this account to the credit bureaus, you can have it removed from your credit report with the help of these documents.
To contact this collection agency, you can use the following details:
Asset Acceptance LLC address: P.O. Box 2036 Warren, MI 48090-2036
Phone number: (800) 545-9931
So far I filed Asset Acceptance LLC complaints wit...
Date: Mon, 08/01/2005 15:37
So far I filed Asset Acceptance LLC complaints with the BBC and the FTC, but her is my story as short as I can make it.
In the beginning of June I received an Asset Acceptance collections letter stating they would meet me dollar for dollar on my credit card debt, so my girlfriend called the company and explained to them that this sounds like a good idea. Chris Sutton the representative handling the case said I needed $100 as intent to cooperate. So my girlfriend used her bank account to pay the $100 to get me going, Chris explained that I must pay $773.80 starting next month for 3 months. July came along and I received a letter stating they would be depositing $773.80 to their account from my girlfriends account. This was not authorized by her or me. So I called them and spoke to a representative named Marva who was filling in for Chris Sutton, I explained to her that I do not have the funds at this time and that we did not autorized any automatic transactions from my girlfriends account. Marva explained that they do not take the funds directly out of the account and that the letter should have been worded better. Happy with this answer I ended the call. Two weeks later we noticed the amount of $773.80 was take from my girlfriends account by Asset Acceptance without authorization. So I called on 8/1/2005 and was told by a supervisor Robert (Bob) Mills that they will not give me my money back after explaining that they took it from my girlfriends account without authorization, and that his representatives told me it would be directly taken out of her account. At this time I asked for the two recordings of the conversation he than stated their are none. So I asked how could he possibly know what was said from the representative without a recorded conversation which the representatives told me was being recorded.
So now my girlfriend is out of $773.80 of her hard earned money because of tactics used by this company. All I want is her money returned back to her account but I dont know where to begin to fight this. Asset Acceptance supervisor pretty much acted like We won you lost get over it bye!
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.