Asset Acceptance Asset Acceptance is bugging me Warren Michigan
I have a problem, more like a questions about Asset Acceptance.
They have been after me since I was 20, now I'm 26, have moved 4 times since then and they are still after me. I'm still trying to wonder how they got my cell phone # because that isn't listed on my credit report. I'm trying to repair my credit, so at first I was ok with them calling me and they asked if I wanted to have set up automatic payments. I said no, I'll send a pymt each month. Well, Tuesday I received 2 calls from them and I spoke with one lady and I told her the payments are coming monthly and she said ok. Then, not even an hour later, I got another call and it's a different person and he asked if I wanted to settle the account. I told him that I already received a call from another rep and I've already made arrangements. He said he was just calling to confirm. I didn't believe him but I was at work, so I just told him that a payment is coming and got off the phone. Then, the next day in the morning, I received another call and since I wasn't in a good mood I went off on the rep and asked him don't they have notes on the account and can't he see that someone has already call. He said yes they did. I told him to quick calling me so much and to leave me alone. (I had PMS) Anyhoo, as promised I made an auto pay to come out my checking acct and a pymt was sent to them. Well, they said they were going to send written confirmation with more details and I haven't received anything.
I got curious and looked on the website for them to see if other people are in the same boat as me. This website and the comments and concerns made got me to thinking about whether I'm about to be screw or something. I didn't know about the statue of limitations or anything like that. But, I lived in California at the time I ran up the bill in question and the status of limitations are long over I'm presume. I live in Virginia now so I have no idea what to do really.
My question is, should I just go and pay them off to get rid of them for good or do I have the statue of limitations for Californina and Virginia working for me and I don't have to pay them. I know the Fair Credit Reporting Act and the Collections Act they have and I know that AA are not following either guidlines. I really don't know what to do about this acct, except to continue making monthly payments. I just don't want them to screw me over after I finish paying them and I can't get a house or something like that over a mistake I made when I was a teenager.
So, please give me advice on how to handle them. Am I suppose to receive written documents from them? I'm confused about this. So, please any respond would be greatly appreciated.
Thanks in advance,
Jasmine
RICHMOND, Virginia
U.S.A.
1 Updates & Rebuttals
John
Louisville,Kentucky,
U.S.A.
RE: comment
#2Consumer Comment
Mon, October 29, 2007
By making a payment you have reset the statue of limitations, so now it doesn't matter how long ago the debt default occurred.
You wrote: as promised I made an auto pay to come out my checking acct and a pymt was sent to them.
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Now that they have your bank transit number and checking account number, there's nothing to stop them from raiding your checking account and taking every penny you have. There are two rules for dealing with collection agents and you've broken both of them:
1) DO NOT give a collection agency on penny of your money until you FIRST get a written agreement from them that they'll accept your offer as payment in full. If you don't do this they'll simply come after the remaining balance after you paid off your offer that you made on the phone...an offer that has no legal validity as it can't be proven.
2) NEVER, NEVER EVER give a collection agency your bank transit and checking account numbers...they'll raid your account and take way more than you authorized.
If I were you I'd cancel my checking account right now and have it re-issued under another account number.
Make an offer and this time GET IT IN WRITING. Remember that these people probably paid pennies on the dollar for your account...i.e. a $1,000 account was most likely bought for $45. Do not offer to settle for the full amount. Once you've gotten the terms in writing, pay ONLY via USPS money orders.
Paying off an old charged-off debt will not automatically give you good credit again. Paid charge-off accounts stay on your credit reports for seven years just as unpaid charge-offs do...It's slightly less damaging...but it's still a negative factor.
FYI: "Settling" debt for less than the full amount MAY increase your next year's tax bill. The IRS considers forgiven debt as income...Not all collection agencies report settlements to the IRS...but some do...