Asset acceptance

Hi tmorris93

Welcome to the forums. I am glad that you have thoroughly browsed the various pages in this site to know your legal rights. Doing this, you are well informed about your moves and can take suggestions from us if you face any difficulties in the process.

Now, you must have noticed that Asset Acceptance generally uses unfair means to collect the debts, sometimes even inexistent, which you are not legally required to pay at all.

Due to default, it is possible that your debt is now at the collection agency, but you just can't start paying over anything that they claim. They need to provide you the proper data before you make a payment plan.

Thinking from their side, even if they file a case against you for not agreeing to pay, you also have a strong reason to support your claim that your debt was not validated by them. The law is more in your side than theirs.

Did you check your latest credit report from the three credit bureaus to know more about this debt? Conveniently, you can contact the original creditor (if the debt is not sold to Asset) for making payment arrangements for the said debt and ultimately erase it from your credit report.

Do let us know more about your further moves. We will gladly assist you if you face any problem in between.

Regards
Roxette

I received a call from asset acceptance after about five years, how did they find me? This number is in someone else's name etc...they were hateful to me, can they hound me after that many years and for debt under 10k?

Hi

Welcome to the forums. Contacting you by the collection agency about the said debt seems to happen after a long time. So, before you take any action, please pull your latest credit report from all the three bureaus and verify this account. See, if the collection agency has tried to put any negative information in your credit file.

Next, you can talk to them and using your consumer rights as per the fdcpa law, you can ask them to validate the debt. This will legally force them to provide the complete details of your past accounts. Under the debt validation as per the FDCPA law, they need to provide you the following information:

• 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.