Credit Repair with Credite Bureaus

You didn't restart the SOL by sending a dispute letter. SOL gets renewed only when you do a payment towards the account or put a commitment on paying them (if they get your statement recorded). You have the rights to know about your accounts and you can put the file on dispute when some information needs to be clarified.

Asset Acceptance cannot hit your credit file with a fraudulent motive. They need to have your file legitimately before posting anything in your credit report. Ask them to validate the account they have, otherwise you will take actions against the company for posting wrong information in your credit, violating the FCRA.

Similarly, send a dispute letter to the CRA reporting the item. They also need to check for the correct records thoroughly. Their must be some results of investigation done if they decide to continue with the reporting from the CA. You will get some more information on the company at the link below.

http://www.debtconsolidationcare.com/assetacceptancellc/index.html

Thanks IncredibleHelp i will follow your advise. I have found through my old records an original ballys "letter" or "statement" requesting payment for April 2001. Would it be wise to send a copy of this to just the Credit Bureau as proof that Asset Informations is incorrect, or should i wait after I send my Cease and Dessist letter to Asset, and the dispute letter to the credit bureau. Thanks once again

Asset Acceptance must prove in writing that they have your file from Bally's. You found the statement in your old records dated back from April 2001. You don't know what happened with your account after that? It may have been sent to Asset Acceptance or may not. Asset Acceptance must prove your info with them. If they don't show your file, your dispute with them will sound legal. They will have to validate the debt or else remove the entry from your file. Tell me, is Asset Acceptance reporting with all the three bureaus?

Before we go on this is what happend with Ballys which I posted in another forum. Please advise if I my plan of action discused earlier is correct.

""I opened an account with Bally's back in 2001 thinking it was a month to month. Stop going and talked to facility director he said he could not help because I had signed a 3 year contract. Spoke to district manager and no help there. I called corporate Ballys to place a complaint with that facility and how they lie to the customers about their so called month to month plans. They tried to collect up until nov of 2001. Then allied interstate took over in April 2002 and I sent a letter of dispute. It stop for while then in Feb 2004 I got another letter this time from Financial Credit LLC. I sent another letter of dispute. Ever since then I have been receiving letters of offers to pay 1/2 and be done with it by Asset Acceptance. 4 months ago they called me at work and told them never told call me at my place of work again. I just got my credit report from Trans Union and Experian and they both first report as of January 2004 is this correct? I would think it should be back end of 2001 or April 2002 when it was first placed with Allied. If so I should be safe within the SOL to recover in the state of Texas. I thinking of buy house in the future what is the best plan for solving this issue? ""

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I think there are some disputed reporting dates by the collection agencies. Don't worry, go ahead and do what you have planned. The credit bureau needs to update your file with correct information. Your SOL is still valid from the date you last paid on the account. It doesn't change with the collection agencies reporting dates. Your debt is past the SOL period.