asset acceptance llc

Hi badddappl

Welcome to the forums. Make sure that you keep all the copies of your correspondence and enclosures intact so that you have a valid proof of your payment effort.

Before you start paying your debt, please ask the collection agency to validate the debt as it is your legal right to know the details of your account. They must specify the following details.

• The details of the account.
  
  
• All the calculation should be shown of the amount that is owed.
  
  
• Any copies of the papers to be furnished that shows the payment agreement.
  
  
• Provide a verification or copy of any judgment if applicable
  
  
• The original creditor needs to be identified.
  
  
• The Statute of Limitation needs to be proven for the collection of the debt.
  
  
• The license of the collection agency applicable in the state is to be furnished along with the license numbers and Registered Agent
  
  
• Proof of the agreement that the debt collector has purchased the debt or has been hired by the creditor to collect the debt from the debtor as this is the basic contract law.
  
  
• Complete payment history showing the details of the creditors, payment history, amount of the debt, break up of fees/interest should be provided in paper.
  
  
• A copy of the original signed loan agreement between the debtor and the original creditor establishing the debt between both the parties also has to be produced.
  

The collection agencies usually represent the debt falsely to extract money from the consumers as much as possible. Make sure that they report to the credit bureaus after your payment is complete, otherwise it will have a negative impact on your credit report for as long as 7 years.

Regards
Roxette