Asset Acceptance Complaints - Know more about them

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I contacted the old bank that I had when I had this account and they are currently looking for this statement which would prove that I paid them. However, they are taking thier time. When I told Asset Acceptance, they told me they would not wait for it and that thay "would have to make decisions on my behalf they may not be in my best interest." I was furious when they told me this. I didnt know what to do. When they put me on the phone with the supervisor, I told her I didnt appreciate the tone in whic I was being talked to, she told me that there was an outstanding balance and that I would have to pay it in order to get them to stop. I told her that I paid it and didnt want to pay for something twice. She said that if I was not going to pay what they asked me right then, then to "enjoy the calls". Who are these people???????

Dlmcdermott,

The representatives in Asset Acceptance are really involved in repeatedly harassing the consumers. Did you get any receipt of your payment made earlier? I think that is a vital proof and you can show it to your bank.

If Asset is asking to pay on something, then they have to prove it legally. Please send them a letter explaining the situation and that you will take legal actions against them. Also state in your letter that you refuse any further communication on phone and will correspond through mail only.

In the meantime you can pull your latest credit report also for a check and see the latest standing of the said account.

what exactly is debt proof? How can you declare it?

Hi IM

Welcome to the forums.

Debt proof or legally known as debt validation is a weapon as per the Fair Debt Collection Practices Act enables you to get accurate information relating to your debt when it is passed on from your creditors.

Using the debt validation method, the debt collectors are forced by law to present the accurate picture of your debt. They need to show the amount of the total debt with proper interest calculations. They also need to prove that the said debt is with the SOL period and they are licences to collect it in your state. The collection agency also needs to provide a copy of the agreement letter that the creditors have passed the debt to the collection agency and hence they are allowed to collect the debt from the consumer.

for more information on debt validation, please have a look at the link given below:

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

If a collection agency is forcing you to pay a certain debt, you can write a letter of debt validation requesting for the complete information. Sample of debt validation letters are kept in this forum. You can collect it and send it to your debt collectors.

Regards
Roxette

My SOL on my Bally's contract will expire in Dec. of 2007. Will they sue me before that?

Hi Sophie

Welcome to the forums.

In which state has the debt taken place? Did you ask for the validation details from Asset Acceptance? I stress that you get all the necessary information from Asset in writing before you start paying them.

• 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.
  

I went to Bally and they said just sign and we will take you thrue the gym.6/02 The next day I droped off a letter to cancel. I was 19. now I'm in court.9/06 $2,000. plus court cost. I never when 1 time to this gym. I went to medation and now there calling me at and work my family wanting $1,100. I'm 22. can any one help me with more information to fight this. please

Hi Jessica

Welcome to the forums.

Have you asked Asset to validate the debt? I doubt if they will be able to give you the necessary details of your account. If they are unable to produce, they just can't take legal actions against you.

So, the crux of the matter is that they need to validate the debt before they can sue you. Be rest assured that they are trying to take money from you in illegal terms if they can't prove the said debt. If they can prove it, you are willing to pay it. Isn't it? But, they need to prove it first. Send a letter through certified mail with return receipt request so that you are able to track your information.

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

As per the fdcpa law, you can refuse to pay the said debt if it has not been proven. You can also consult your attorney for this purpose.

Regards
Roxette

Thx for the advice Roxette. I sent the letter to AA. I spoke with a rep. there today and he said he wouldn't be able to provide me with proof that AA is assigned to collect the debt by Bally's and the license of AA applicable in NY along with the license numbers and Registered Agent. So, what should I do at this point?

Sounds to me like he basically told you they woudl be unable to validate the debt. Send them a letter asking them to validate the debt. IF they are unable to do so, they cnnot report anyything negative against your credit reports, and must remove any negative reports already made, and cease further collection activities. Make sure and send it Certified mail, return receipt requested. If after thrity days they haven't validated the debt, pull your Credit Report and if there are negative reports , dispute them with the credit burea, you will need to supply them withthe documentation that they were unable to validate the debt. Additionally, if they persue collection activies, filea lawsuit against them for violation of fdcpa and FCRA for the maximum penalty allowed by law.

Hi Sophie

As Clay has said, the collection agency has to provide you the complete information about your debt as per the fdcpa law. If they are unable to validate it and still continue to pursue collection activity, you can take legal actions against them under the Consumer protection afforded by the FDCPA Section 809 (b), and sue them up to $1000.

If the collection agency is unwilling to give you the necessary information about your debt, it clearly means that they are not authorized to collect the debt from. You have the right to take legal actions against them. Your credit report should in no circumstances be hit by collection agencies without genuine reasons.

Regards
Roxette

Quick question:
AA did not have a correct address for me until they called me on the phone. So, I wasn't able to reply to thier letter (which they said was sent back to them) w/i 30 days. Since my debt validation letter was sent after 30 days, am I out of luck?

Sophie, they won't be able to prove that because they don't have any proof of it.

You can renew the process by asking for debt validation of course through certified mail and with return receipt requested. That receipt number is the most importance evidence of your efforts made. :)

As far as legal statutes are concerned there are two the federal statute of limitations and state statute of limitations which vary from state to state. The federal is 7 years. For example in Texas the statute of limitations is 4 years but the federal carries it another 3. That means after 4 years (in texas) i cannot be sued, however the debt will remain on my credit reports till 7 years has passed. Once those legal obligations to repay the debt have surpassed the only obligation to pay those would be moral. I'd like to think there are still some honest people left in the world.

I have been receiving calls from AA for several months now. They still call asking for me by my maiden name, not even knowning my married name. THey have even place calls to my parents in a different city. THey have sent mail to my new address as well as an old address. I bought my first home in March of this year, and had a credit check down on three agencies of coures, with nothing being mentioned regarding a copy called Assesst Acceptance. In March, I spoke to a woman basically asking her to send me information that this account is truely mine, as I did not remember having an account with the credit card company that they supposedly were hired to collect this $2000.00 "debt". This credit card debit was reportedly to have occured in 1992 or 1993. I have not received the information from the company and will not take or return their calls. I am now wandering if I should speak to them or to send a letter requesting the validation. Am I just opening a bigger can of worms by playing into what they think I owe them? To tell you the truth I am a little scared and am thinking about just paying them the money. I have worked hard to clean up credit debt from my college years and a painful divorce. I have purchased my home with no mention of this AA Credit Agency, where did they come from?

Hi CC

If a debt really occurs in your name, then the collection agency will hit your credit report and cause the damage. Though they have not done by now, you should ask them to validate the debt. If they are able to provide you with the necessary information about the debt, you can make payment arrangements with them. Remember, that your credit report is not having any marking as of now. But if the collection agency is having genuine debt in your name, they will legally hit your credit file in a negative way.

If no debt occurs, then you have the legal rights to dispute with them and prevent them from doing any damage to your credit.

At this situation, you need to contact them confidently in writing to validate the debt. They need to provide you the following information so that you get a true picture of it.

• 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.
  

Thanks for the advice, but have I not already asked them for the proof of the debt via the telephone request. Further, how long does a CA have to try to "do damage" to my credit report. I had the most recent report done in March of this year!!! It seems down right dirty practice for a copy to try to collect money from people who are unsure if they even owe the money in the first place. I have enjoyed finally hearing from other people who have had similiar situations with this company, is this a "legit" company or a fly by night company?

Since you have asked them to validate the debt over the phone, you can't prove it later when asked. If you send a letter through certified mail with return receipt requested, it will have the date when you asked for the required information. They will be forced to send the information if it is genuine or won't send at all. But you have the date of your efforts printed in the CMRRR serial number.

I have not received mail from this company for some time now, how do I get an address and a representative name to send the mail to? Again, I ask does this company have a good reputation or are they merely in the business of bothering hardworking Americans? Is it true this company is in some financial dire straights themselves?

I have enjoyed the conversations and reading the other horror stories with AA. I am still looking to find a solution to this problem: how do I send a ceritfied letter to a PO BOX, I do not have any other address for this company. Again, I would like to know what kind of reputatino this company has before, I send any mail or have correspondence with this company. They called AGAIN this morning and were very rude and nasty. I am not sure how to handle the calls, but I get flustered at the way that I am spoken to. The man on the phone stated: "do you ever intend to repay this debt or are you just going to be a deadbeat". TO that I hung up. I do not want to answer this type of question, but I am afraid that I will blurt something out in anger, I have a feeling that this what they want me to do. They have contacted by parents to try to locate me, as I will not return phone call and have tried to confirm my SS# with them as well. This has been going on long enough for almost 1 year now. I have asked for verification of the debt, over the phone, but roxette has suggested that all correspondence with AA be done in writing. I am not sure that this is even my debt as I can not recall having a credit card with citibank, which reportedly turned over collection to AA. This was supposedly done between 1996-1998, but I was not even able to get the date of the supposed account with citibank. What would the SOL be on credit card debit repayment in the state of Illinois?

Hi Cindycrable

Here is a physical address to contact Asset Acceptance so that you the certified mail acknowledged.

ASSET ACCEPTANCE, LLC
28405 Van Dyke
Warren, MI 48093

Brad Bradley - President/CEO
Ph. (586) 939-9600
Fax.(586) 446-1803

The SOL period in Illinois for legally collecting the debt is 5 years on open contracts and 10 years on written contracts. So, it seems that the said debt is out of the period of statutes.

Asset Acceptance has to put in writing before they can legally hit your credit file. Putting bad information in the credit file of an individual without legal purpose is a violation of the fdcpa law and it causes defamation and financial injury. You can take legal actions against them under section 809 ( b ) of the Consumer Protection Act and sue them up to $1000

Regards
Roxette

Roxette thanks so much for the information. I feel so much better having found this site. You guys have acutally given me some hope, and I have to remember not to let them get me so intimidated with their below the belt tactics

Cindycrable

Trust me, as long as you are an informed citizen using your consumer rights, no one can bully you. You are willing to work in the legal lines; it's the turn of the collection agency to show some legal evidence.

I've also been having a lot of fun with Asset Acceptance.

Basically, the ignored my demand that validate the amount, and then handed me off to another collection agency. At that point I filed a complaint with the FTC.

They certainly are making a mockery of the value of a Better Business Bureau rating. If the current laws aren't working to do something about such companies, it may be time to write to your Senator, Congressmen and maybe even Sixty Minutes.

Link made inactive as per forum rules - Vikas

Hi,

I had an account that was opened in 9/1997. It is now 11/2004. I assumed that my statute of limitations have expired for this account and would no longer be obligated to pay. I suffered for seven years whithout good credit and now have a clean slate. This account was apparently sold from MBNA to asset acceptance llc,who is now actively pursuing collections. Can they do this...I have never made a payment and now the account is close to 9,000k and I am afraid that they will cease my bank account..what are my rights? if any.

Pleeeeeeeease help me

I made an error, it is now 11/2005!

I am apparently a year behind!

LOL

Starting over

I sense that your accounts have been re-aged by the CA so that negative information can be put in your file for longer period. This way, the CA gets a room to file actions against you and pursue collections for longer period.

This is illegal right from the base. Re-aging of accounts is a violation under the Consumer protection afforded by the FCRA Section 605

You had an account that was opened in 1997 and since then there was no activity in it. This pushes it out of the SOL period and 7 years reporting time as per the FCRA.

You have to consult your attorney on this matter and file a class action lawsuit against the company. After you win the case, you will be compensated up to the extent of damages.

You will get an order from the court which you will send to the credit bureau. They will update your file and you will have an increase in the credit scores. I prey that this works exactly the way I have framed here.

they are trying to collect from me from something that has happened almost 10 yrs ago. They keep calling and calling and calling, just a recording to call back. I told them a few months ago, i am NOT speaking about antying and to QUIT calling me. I cancelled my memeberhsip with in the right time frame, I am not going to pay for it. They want me to pay and use another ballys.. hello closest one is over an hour away. DONT THINK SO!

To Whom It May Concern,

I received a letter from asset acceptance llc, Warren Michigan reguarding supposedly a B of A account with a past due of $468.23. I now have a perfect record with all 3 credit reporting agencies and am over 700 (FICO) score with all 3 as well. I also have a current B of A credit card (never been late with a payment), along with 7 other major credit cards (also, never been late). I would like to know, is there or is there not a Statute of Limitations when it comes to collection of a debt other then to the IRS? Thank you in advance for your prompt reply.

Art

Hi Art

Yes, the statute of limitation applies to all secured and unsecured debt originated in the state.

Asset Acceptance usually purchases old and charged off debts that are mostly out of the SOL period. So, before you make any payment agreement, make sure to get it validated that will enclose the SOL period.

After you have got the genuine details about your debt, then only propose a payment plan towards your debt account. Also, do keep a check on your credit report. It might be possible that Asset will try to ruin it.

i owed citybank some money 15 years ago, and just received a letter from asset acceptance trying to collect the money, can they do that?

Mo

When was the date of last activity shown on the said account? The SOL is calculated from the date of last activity and depending upon the state where this account originated, you can legally refuse to pay it.

Is this account shown in your credit report? Usually CAs like Asset Acceptance and many other try to re-age the accounts by shifting the dates of last activity. This is done with the intention to keep negative information in your file for longer period and thus enforce collection practices.

First, I would like to thank you for your very prompt reply. It is greatly appreciated. I used to have a checking account in LA County with Bank of America which was back in 1978. Although I don't recall owing a balance. In 2002, I was issued a B of A credit card, which is current and I have never missed a payment(nor been late). I've had the same address for over 20 years and have never received any communication from anyone regarding a bad debt. I would think that if it was indeed mine that it would not have taken almost 28 years for them to contact me. Would I still be liable for this? I certainly don't have any records dating that far back. I can't imagine that they would still have any records either. Rest assured, nothing signed. Should I notify the credit reporting agency about this before, in case they try to put a derogatory on my report? I've worked very hard to maintain sterling credit, just to let someone ruin it with something that either isn't mine to begin with or almost 30 years old. Once again, thank you for your prompt reply.

Art

Thanks Art :D

This debt is way out of the SOL period and the reporting period. It can also be termed as a junk debt that Asset Acceptance has purchased from somewhere in order to make money from the people. But legally, this debt is of no value. Such CAs hunt for innocent people with this type of debt and force them to pay it. If by chance, money is deposited into the account, the SOL is renewed and along with it, the reporting time is also activated.

Stick to what you have decided. There is no agency that can intimidate you for paying this one.

If any CA tries to put negative information in your file, you have the federal rights to file charges against them under the Consumer Protection of the FCRA.

Also, you can explain this matter to the credit bureaus. It will only do good to your credit and prevent from illegal collection practices. Make sure that your correspondence should be in writing so that you have the proof of every action taken.

When the CA is placing a call to you, tell them to give you the information of this account in the form of debt validation. This is your federal right to know the complete details and without it, you will refuse payment. Though they won't be able to give you anything correctly, but even if they serve you with anything improper, you have the right to dispute it. This dispute is very important so that you defend yourself. I will suggest you reading this page for more information on why to dispute an age old debt

http://forums.debtcc.com/forums/scarycollection.html

I hope that you must be feeling a bit relaxed. :D

hi ben, thanks so much for replying, last activity on that account was 15 years ago in the state of illinois and account was close ever since, until today, when i received a letter from asset acceptance demanding that i pay by check phone $285 or $385 by mail. i honestly dont even remember if i owe city bank any money to begin with.

by the way, the account does not appear on my credit report!!

Well, I expected something like this only. Do follow what I mentioned in my previous post and you will be doing the right thing. Most important thing to consider is that you should not renew your SOL by making any sort of payment to this account.

Everything else is fine. Ask them to validate the debt and then you will have enough reasons to dispute it.

I received a letter from Asset Acceptance stating I owed about $700.00 form a Orignal Chase Credit Card from 1981. What is the Statue Of Limitations on this?

hi ben, thanks for answering all of us and benifiting us from your knowledege. sincerely mo.

Joe

Relax, you don't have to pay this debt. There is no legal importance of this debt anymore. It is way out of the SOL period as well as the 7 years reporting period.

Ask Asset Acceptance to validate this debt. They are not barred from pursuing any collection activities. If they fail to validate this debt, you have the legal rights to remove any sort of negative information if they have put it in your file.

You will have to be careful on not activating the SOL period of this debt by making any sort of payment towards the account. If you do so, the SOL and the reporting period will get renewed and you will be legally forced to pay it.

I am sure Asset won't be able to serve you any legal document about this debt. If they serve you with any paper on debt validation, it is necessary to dispute it. If you do not respond to their validation, you might be in legal troubles.

Please read this thread for some more information on this fact.

http://forums.debtcc.com/forums/scarycollection.html

I received a letter from Asser Acceptance an account statement and all it said was the principal owed and the interest/fees the balance and some personal information also I received another letter stating "As a result of our investigation we have reported your account as "disputed" to the credit reporting agencies. What do I do next?

Joe,

Check your latest credit report and see the latest standing of this account. If this is reported as 'disputed', you don't have anything to do here. See if your file does not report anything that hurts your credit.

Keep in mind that this debt is 24 years old and way out of the SOL period. Do not make any payment towards this account.

I today received a letter from AA stating that I owe 712.00 for an unpaid phone bill in Ohio from 1999. I have lived in NC since 1991. They are to send me fraud papers to fill out and return. I hope this is going to take care of it. The first thing they asked me for was my SS#, which I declined to give. The whole thing makes me nervous. Sounds like this place can cause one a whole lot of grief. Have any of you all on this thread had your problems solved?

WilmaNC

You are not the only one being contacted by Asset Acceptance. This company purchases junk debt and then they harass the consumers forcing them to make payments. Be aware that your debt is out of the SOL period as per the date of last activity. So, you need to place a dispute after they send you in writing about this account.

Ask the company to give you the debt validation and later you can dispute on it. Put a search on Asset Acceptance in this forum and you will read many other feedbacks of the consumers about this company.

Be sure to dispute the debt after they have sent you in writing. Read the article placed below for more knowledge on this matter.

http://www.debtconsolidationcare.com/forums/scarycollection.html

I have recieved a letter from your company stating that you have purchased an account.
original account # 773897026****
asset account # 23869**
I have no clue about either account. who the original account was with, what companey, when did it open.
my e-mail is
please advise via e-mail
thanks

email address removed as per forum rules. Account information deleted for your personal safety - Vikas

Please check out

For more information on asset acceptance, LLC and their Fair Debt Collections Practices Act violations/ lawsuits.. If there's any more questions you have, reply, and I might be able to help.

Sorry!

Link made inactive as per forum rules - Vikas

Mohialdin

You need to contact Asset Acceptance for the account that they are holding. I do have their phone number. It's 586-939-9600. Please call them and get information on this account.

I have reviewed my credit report and this old account that asset acceptance says i owe does not appear and it looks like they have not reviewed my account either. Now the date is drawing near they said i have to pay the amount. What should I do?

Hi Joe,

Welcome to the forums.

Your debt has way long passed the SOL period. Although expiry of the SOL does not restrict the collector from making their efforts, but you have the legal rights to dispute it. You can thwart off collectors and lawsuits coming in your way. You won't be legally forced to pay it and thus escape being sued.

Not placing the dispute in the proper time will actually put you in legal troubles.

Please have a look at this thread for a broad explanation. You will understand the reason of placing a dispute on an account that is considered so important. Asset Acceptance usually purchases such age old debts, so it becomes even more important to view the topic given below

http://forums.debtcc.com/forums/scarycollection.html

Regards
Roxette