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Asset Acceptance collecting debt removed from credit report

Date: Tue, 11/15/2005 - 11:29

Submitted by anonymous
on Tue, 11/15/2005 - 11:29

Posts: 202330 Credits: [Donate]

Total Replies: 6


My husband recently received a letter from Asset Acceptance to collect 40% of a balance from Holiday Spa Health Clubs. He joined about 15 years ago, injured his back, and was not able to work let alone exercise for several months. They insisted he pay dues in spite of his injury and I believe he sent a copy of his state disability information in hopes that they would leave him alone. We have copies of his credit report from 1998 showing a Perimeter Credit / Bally's (who purchased Holiday Spa) as the account name. So my question is - since the negative information has expired, can Asset Acceptance legally collect this debt? It was on the credit report, has expired, and now they are threatening to put it back on. What should we do???

Thank you!


Hi Gaffneycrew

Welcome to the forums.

Don't worry! Asset will force you on many other things to do. Any accurate negative information stays in the credit file for 7 years and bankruptcy is reported for 10 years.

Once the negative information is removed from the credit file, it can't be reported back again. Only student loans can be put back in such cases in the credit report. Asset Acceptance has no legal rights to threaten you with what they can't do.

Gaffneycrew, now you know that this debt has no importance as it is out from the reporting time in the credit report. Use your federal rights and send a cease and desist letter to the company to stop all collection calls. Send your letter through certified mail with return receipt requested. Once they have received your letter, they are required to stop all collection activities. If they continue, it will be a violation of the fdcpa laws and you can file charges against them. Consult your attorney if this situation occurs.

Regards
Roxette


lrhall41

Submitted by roxette on Tue, 11/15/2005 - 11:50

( Posts: 4009 | Credits: )


Thank you for the info Roxette. That's what I thought. This may be a stupid question but is there a standard cease and desist letter or do I make up my own? Do I need to explain details to them or just tell them to leave us alone because this has expired???

Thanks again!


lrhall41

Submitted by on Tue, 11/15/2005 - 12:10

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You are always welcome here in the community's forum. Feel free to clarify any of your doubts or queries if it is related to your financial problems. We will try at our best to lead you towards the right path.

You can also take counseling on phone from the trained experts in this website. They will provide you excellent tips on proper budgeting programs and work with you on the consolidation. Feel free to register in the website.


lrhall41

Submitted by roxette on Tue, 11/15/2005 - 13:58

( Posts: 4009 | Credits: )


I strongly suggest a certified mailing of this letter. This way you have proof that the letter was rec'd. I had to do this for another company that I was paying, they would literally call me 10 times a day. All i put in the letter was the acct number, to cease and desist all phone calls to me, family, work, neightbors, etc. Only to contact me via mail. They never called me again! LOL


lrhall41

Submitted by on Mon, 11/21/2005 - 23:39

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