Asset Acceptance Facts, Help and Tips For Repairing Your Credit
If Asset Acceptance is on Your Back, and Your Credit is Trashed, You Can Do Something About it!!!
If you’re getting letters and calls from Asset Acceptance LLC, brace yourself. You’re in for a tough ride.
Unfortunately, many debt collection agencies like Asset Acceptance have a track record of using unfair methods and making “mistakes” that are more like scams!
If you do 5 minutes of research online you will quickly discover that the vast majority of debt agencies like Asset Acceptance have reputations for inaccurate debt reporting.
Here’s a few of the problems that real people have had with debt collection agencies.
- Old debts. A number of consumers say that the company tried to hold them responsible for very old debts that had clearly exceeded the statute of limitations in their state.
- “Missing” mail. A suspicious amount of mail sent to debt agencies seems to get lost along the way.
- Non-existent accounts. In one case, an individual reports that certain debt agencies tried to collect on a debt from a company he had never interacted with in his life! He contacted the company in question, and they confirmed that he had never had an account with them. Nonetheless, these debt agencies similar to Asset Acceptance persisted in harassing him about the debt.
- Fraud accounts. If you’ve ever had your identity stolen, you will know about fraud accounts. They are created when the thief opens a new credit card or other debt account in your name. Naturally you are not responsible for the thief’s debts! However, in at least one case someone was targeted by these agencies for collection on a fraud account, even though the account had already been recognized as fraudulent by the original creditor.
- Unauthorized withdrawals. In one case, a debt agency convinced a consumer to begin making payments to them on a debt. The consumer agreed to an account withdrawal of $100 to start. The next month, the debt collectors automatically withdrew a much larger sum without his specific consent.
If you’ve had any of the above problems, here’s how to deal with them:
- Old debts. If you get a notice of a debt collection from a company like Asset Acceptance LLC, immediately check the laws in your state and determine if the statute of limitations has run out on your debt. Don’t pay a penny before you do this! Paying on an expired debt can restart the statute of limitations and make you responsible for the debt again. If Asset Acceptance LLC has reported an expired debt on your credit history, they are legally obligated to remove it.
- “Missing” mail. To combat this, be sure to send all correspondence via certified or registered mail, which requires Asset Acceptance LLC to sign for your letters and creates proof of receipt. This is especially important if you are sending any time-sensitive material.
- Non-existent accounts. Send a debt validation letter to Asset Acceptance LLC, and make them PROVE that you owe the debt in question. Remember, the burden of proof is on them. You don’t have to prove that you don’t owe; they have to prove that you do.
- Fraud accounts. File an Affidavit of Fraud with the original creditor. They will then send you paperwork confirming that the account was opened by a thief, and you can use that paperwork to get Asset Acceptance LLC off your back.
- Unauthorized withdrawals. Prevent the possibility of unauthorized withdrawals by never giving your bank account information to an Asset Acceptance LLC representative. If you do have this problem, contact your bank immediately, close the account in question, and open a new one.
What you can do:
Get professional assistance.