Asset Acceptance LLC yet again!

Hi Dr. Dan

Welcome to the forums.

If a debt goes out of the statues of limitation period, it does not restrict Asset Acceptance or any other debt collector from doing collection activities. But you have the legal reasons of not making any payments on this account.

As the company has sent a letter to you, you have 30 days to dispute this debt. Draft a letter on debt validation and send it to their mailing address. Do not send a copy of the Experian CR as it contains your vital information as it can be possibly misused. Keep it in safe place in case you might have to show it later at the court, if required.

When you have sent the dispute letter to Asset Acceptance, they are required to produce you all the valid details about this account. The verification will prove that the debt is out of the statutes period and hence you are not legally obligated to pay it.

After they have received the letter, they are not allowed to call you except to notify about any legal actions. If they call you during this period, it will result in violation of the fdcpa law and you are in charge of taking legal actions against them.

Templates of debt validation letter are available in this forum. Do pick up any letter of your choice and send it to them through certified mail with return receipt requested. The printed dates will prove your actions taken to deal with this situation.

Regards
Roxette

Thanks for the quick reply. I'm glad there are people like you out there helping consumers deal with these guys. I will do as you stated.

I have had success in the past with actually removing two collection account from my CR. One simply required 2 certified validation letters as you have stated, and the account was removed. The other one (Red Rock Capital/Pilgrim Capital Management) was a bit more difficult. They would not sign for the certified letters, which would be returned to me (I actually still have them). So, I filed a complaint against them through the State of Mass. The account dissapeared. I had help from The Fair Credit Movement. Any idea what happened to that site?

Dr. Dan

The receipt of the certified mail is also a valid proof even if they don't sign the return receipt. Basically, it confirms that your information has been received by them. But the important thing is that you have made yourself clear in what you have done. This is important from legal aspects. The ball is sent to their court and it is now their decision on how to react on the given situation.

Regards
Roxette

CMRRR letter sent. Now, should they try to get a judgement, would they have to contact me prior to any court date? (I was telling my wife that I may try to become a consumer rights lawyer, as I this kind of thing is actually kind of fun for me..)

Also, I imagine you get trolls visitng this site as it is open. Are there any specific examples of "trolling" here?

If Asset Acceptance issues a judgment in your name, they will have to get court orders and you will be asked to appear in the court. You will have to defend yourself showing this debt out of the statutes of limitation period. On this basis, the judge will rule in your favor.

Do I have any recourse? What are my options?

Scott,

Welcome to the forums.

For any legal judgment to take place, you should get a notice from the court in writing and you will be asked to show your presence.

If you have not received any letter from the court, send a letter to AA disputing it. Send your letter through certified mail with return receipt requested.

Have you checked your latest credit report from the three bureaus? If there is any valid judgment against you, it should be in the records of the registrar and in your latest credit report. Please see if it is shown there.

Quote:

Received a Account Statement today...It even shows DOLA as being over 14 years ago...I guess I need to reply, however I want to make sure I don't send a letter that "re-starts" the Statue of Limitations in my state. Any help/samples would be much appreciated.

Quote:

Dr. Dan

Sol will be renewed only if you pay towards the account or even make an agreement to pay the said debt. You can freely send the letter disputing to the letter sent by Asset Acceptance.

The sample letter to notify the expiry of the SOL is given below:

[quote]

Today's Date

Your Name
Your Address

Collector's Name
Collector's Address

RE: [insert account number or name of account or name of debt]:

Dear [insert collector's name or company name],

This letter is in response to your [letter dated xx-xx-2005] (copy enclosed) or [phone call on xx-xx-2005], concerning the collection of the above referenced [account or date].

I do not believe I owe what you say I owe therefore I dispute this debt. I am well aware of my rights under the Fair Debt Collection Practices Act (fdcpa) and my state laws so I hope to save both of us a great deal of time by letting you know that not only do I dispute the validity of this debt, I have also checked with my State Attorney General and verified that the Statute of Limitations for enforcing this type of debt through the courts in (insert your state or the state in which the contract was signed) has expired. Therefore, should you decide to pursue this matter in court I intend to inform the court of my dispute of this debt and that the "statute of limitations" has expired.

This letter is your formal notification that I consider this matter closed and demand that you, or anyone affiliated with your company, stop contacting me regarding this or any other matter except to advise me that your debt collection efforts are being terminated or that you or the creditor are taking specific actions allowed by the FDCPA or my state laws.

Be advised that I consider any contact not in accordance with the Fair Debt Collection Practices Act a serious violation of the law and will immediately report any violations to my State Attorney General, to the Federal Trade Commission and, if necessary, take whatever legal action is necessary to protect myself. Be advised that I tape record all phone calls and violations of the FDCPA can result in you or your company being personally fined up to $1,000 per incident.

(Sign above name)
Printed Name [/quote]

Send your letter through certified mail with return receipt requested.

Hello, we also have recently been contacted by the aforementioned company and I found this site as a result. Could you please tell me what the statute of limitations is for those that live in the State of Colorado? My wife has just received a letter from these folks but we have no idea as to what it pertains to or from what previous date. Presumably it would have to be at least 4 years old (the debt) since we have been married at least that long.

Thanks and best regards,

Rob

this was taken from fair debt collection. com.
No liability for correctness is implies or offered:
Colorado Statutes of Limitation

Quote:

Hi Rob

Ask the company to send you the details of the debt in writing. Once you have got it, you will know if the debt is within the SOL period or not.

The statute of limitation for legally recovering the debt in Colorado is 6 years. It will start from the date of last activity in your account.

Be confirmed that the debt is out of the SOL period before you place it on dispute.

My Bank wet BK and my last payments were in late 1987 I am now being sued by aThe Cadle Company in 2005 in Texas.

Any info on the Cadle Company

I don't have much information about the company you are looking for but I can guarantee you that your debt is well out of the SOL period as well as the seven years reporting period mentioned in the FCRA. You need to be sure that you haven't done any payment towards the account in the recent times, otherwise the SOL will be re-enforced and will show up in your credit report. Did you check the latest copy of your credit report and verify if this company has hit your file? You are safe until this happens.