This is not proof of last transaction??

Cotoggio, can you tell us the name of the state where this account took place? Although, this may not be complete debt validation details given by Asset, but at least you have reasons to dispute with the available information.

Please tell the name of the state where this account took place. I can confirm you if the debt is within the legal statutes or not.

The state,New York. City New York

In New York, the debt goes out of the SOL period in six years from the date of last activity. Check the DATE of last activity in your account and see if it's within the SOL period.

If the statutes have expired, you are not legally required to pay this debt and cannot be forced into any legal actions.

David I also received a copy of the original credit application of 9/1997. Is AAC LLC licensed in New York to collect debts? Also the first time they contacted me by mail, I requested as per FTC, proof of debt.Giving them 30 days to respond. Nothing came. Seven months pasted and again a letter from AAC LLC stating I had this debt. I requested again proof within 30 days. This is when I received the made up transaction proof and the copy of the credit application.As of 1/23/06 after receiving a letter from their legal staff stating if they do not hear from me,futher action may be taken.I sent by registed mail the following,all past request for proof of debt a letter in part stating that the transaction proof is not full filling FTC law. What do you think?

Check the local AG's office and verify if Asset is licensed to do business in New York. I don't think they are licensed but you must confirm it with the office.

The collectors must give you the required information of debt validation. Here is a page that you will like to read further:

http://www.debtconsolidationcare.com/validation.html

Only after the company has sent the details after you have placed the dispute, you can think further if you are legally required to pay on it.

David, one last thing, I have been out on leave without pay since 01/01/2005 to present. I have the original bill statement of last transaction dated 09/12/2000. AAC LLC as only showed me there made up copy stating date of 09/2000. I wrote them in that last letter of 01/23/2006 that Iam not now working. What do you think AAC LLC can do? Also if they are not licensed in N.Y ?

I see the date of last activity to be within the SOL period. If Asset is unable to get any money from you and they are hired by your creditors, they will forward your account to the OC. They, in turn will decide, whether any legal actions can be taken against you.

Now, if Asset has purchased the debt from your OC, you might have to make payment arrangements with them only as the creditors are now nowhere involved in it legally. This will give Asset the legal rights to issue a judgment against you.

You can still take control of the situation. Discuss your financial problem with the consultant during the counseling. He will guide you towards suitable direction.

Toni, place a dispute with the credit bureau that is reporting this account.

Highlight these items and request them to give you more information on it. The bureaus will run verification and update your file with the required details. A free copy of your CR will be sent to your mailing address.

Send your letter through certified mail with return receipt requested. Keep everything documented in a file for future records.

I have a question.....what if a CA is not licensed to collect in the state you live in?

Ever state has a licensing board or office where the records of the collection agencies are kept. If your state does not have any such boards, then you should contact the FTC at 1-800-382-4357.

Or you can mail to FTC at
Federal Trade Commission,
attn: Room 130,
600 Pennsylvania Avenue, NW,
Washington, DC, 20580.