Complaint Review: Asset Acceptance LLC - Warren Michigan

There are only 2 states (Mississippi and Wisconsin) that have a Statute of Repose, that is once the SOL has expired (3years) then the debt itself is extinguished. In the other 48 states, expiration of SOL does not make the debt go away. You still owe it but it is unenforceble with court action. And, after 7 1/2 years it is no longer reportable by the 3 credit reporting agencies unless the consumer does something (make a payment) that resets the SOL.

I just wanted to report writing all those letters really worked. Thank you for all your suggestions. I haven't heard back from them. All agencies were investigating them. So I am sure they are very busy.

"I am attempting to introduce federal legislation that requires any collection agency to fully validate a debt and have a complete and accurate file and itemization of charges, right to ccollect, etc. BEFORE cotacting the alleged debtor for the first time or accessing the alleged debtors credit file." That is a brilliant idea. In a court of law, and in life in general, the burden of proof is on the person trying to GET the money. For some reason its flip-flopped with the debt collectors. Current law basically places the burden on the person who allegedly owes the money to prove that they DON'T owe it. One of the first things I learned in law school was how hard it is to prove a negative. And the law is currently allowing collection agencies to take advantage of this to the detriment of consumers. Steve, if you're still thinkning about this project, I want on board. Ed has my email and phone number if you want to get in touch.

"I am attempting to introduce federal legislation that requires any collection agency to fully validate a debt and have a complete and accurate file and itemization of charges, right to ccollect, etc. BEFORE cotacting the alleged debtor for the first time or accessing the alleged debtors credit file." That is a brilliant idea. In a court of law, and in life in general, the burden of proof is on the person trying to GET the money. For some reason its flip-flopped with the debt collectors. Current law basically places the burden on the person who allegedly owes the money to prove that they DON'T owe it. One of the first things I learned in law school was how hard it is to prove a negative. And the law is currently allowing collection agencies to take advantage of this to the detriment of consumers. Steve, if you're still thinkning about this project, I want on board. Ed has my email and phone number if you want to get in touch.

"I am attempting to introduce federal legislation that requires any collection agency to fully validate a debt and have a complete and accurate file and itemization of charges, right to ccollect, etc. BEFORE cotacting the alleged debtor for the first time or accessing the alleged debtors credit file." That is a brilliant idea. In a court of law, and in life in general, the burden of proof is on the person trying to GET the money. For some reason its flip-flopped with the debt collectors. Current law basically places the burden on the person who allegedly owes the money to prove that they DON'T owe it. One of the first things I learned in law school was how hard it is to prove a negative. And the law is currently allowing collection agencies to take advantage of this to the detriment of consumers. Steve, if you're still thinkning about this project, I want on board. Ed has my email and phone number if you want to get in touch.

Larry. If you know for FACT that the debt is not yours, contact the reporting credit agenicies and see if that claim is listed on your report on ANY of them,.. experian, transunion and equifax. if you see that claim on your report then fill out the fraud claim listed and THEY will do the work to removed the debt. But if its verified, they will state that too. as far as the collection agency you referred to, well pull up this site and read. it will provide you your rights under the "Fair Debt Collection Practices Act" and what you can do.....(((link redacted))) I hope that helps you. Know your rights. you will be surpprised at how they are limited under laws on the way they contact you with multiple calls from multiple phone numbers. I HIGHLY RECOMMEND you to document EVERY LITTLE thing you do, the times you make calls, as well as any email or letter you send or recieve between you and the agency. Your state might also have laws that restrict any second or third party involved in attempting to collect supposed debts. I know Ohio has several. you have a huge amount of information available with the internet to locate laws in your state as well as federal laws. Your state attorney general may be interested in your claim too,.. cant hurt in calling I hope that helps you. Good luck,.. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

Don, Actually a debt does in fact die. At such time a debtor/alleged debtor makes a written request for validation, that debt cannot ever be collected on again until such validation is provided. And, if they resell the debt, they must include the request for validation in the file, otherwise it is fraud and can be prosecuted as such. As far as making an inquiry every 90 days, this too, is false. If you are collecting on a debt that you cannot validate, you do not have 'permissible purpose" to even pull someones credit. This too, is illegal and can be prosecuted, and you can be sued. Furthermore, you cannot report an account as a collections account on any credit bureau if the account is past statute of limitations for legal collections. There is something called 'due diligence' which is required of the collector PRIOR to taking any adverse action against an alleged debtor. Ignorance or bad information is no excuse. You still get sued, as a minimum by me. Every time. I am attempting to introduce federal legislation that requires any collection agency to fully validate a debt and have a complete and accurate file and itemization of charges, right to ccollect, etc. BEFORE cotacting the alleged debtor for the first time or accessing the alleged debtors credit file. This would stop all of the harassment and fishing that is done by collectors on old undocumented debts.

Larry, I'm glad it worked out for you. they knew it was past SOL and legally uncollectable. However, you can still sue for the legal violations and your time and expenses dealing with their nonsense. Contact the NACA for an attorney referral in your area that does this. They do it cheap or free in many cases if the case is strong. Good luck

I just got a letter from Mike Cox Michigan Atty General stating Asset Acceptance LLc has dropped the case. They don't say why. I wrote to everyone suggested. I filed complaints everywhere. My Chase CC dropped me but I'm working with them now in reinstating my acct. Chase just dropped me becuase of my inquiry into this debt. Weird but true. Spent all day on the phone with them trying to clear up the confusion. Thank you everyone. I hope this is the end of hearing from these guys!

The original poster never said it WAS his debt. ASSet Acceptance does it's best to skirt around proving the debt and the OP is supposed to just PAY it? You are kidding, right? How many times have you been told to pay a 25 year old debt and just paid it? Give me a break. Even the IRS doesn't require you to keep records for 25 years. I keep records for 10 years because I am self employed. I will not keep records for 25 years so that I can prove down the road to some bottom feeding collection agency that the debt is not mine. The last time I checked, the law states the collection agency has to prove that it is my debt. And fishing for my signature and social security number doesn't count. Period.

I called Chase who I have an existing account with. They went all through their records. They have no such debt and have NEVER sold old debts to this company. 25 yrs ago I had no credit cards and Chase was only in NY. Chase said this has to be a scam. A false debt. Chase said we may have to get an attorney to get rid of them. I've written everyone. Does anyone know what kind of attorney I should get?

Once again, a bit of a misunderstanding. A bad debt does never die. It could be 100 years old, and a collection agency can attempt to collect on it. If the account is out of the Statute of Limitations, you can not be taken to court to force payment. A collection agency can legally place an inquiry on your credit report every 90 days, but that is it. In the end, collection efforts can continue.

I called Chase Credit Dispute Verification Team and then faxed them all information from AALLC. They have no record of this debt and they said they have never sold debt to Asset Acceptance LLC. They said beware this is a scam they are tryiing to extort money from us. They are trying to get our SS# and signature. Chase said don't ever give it to them. Chase said we may have to get Attorney t stop harrassment. I have contacted EVERYONE suggested. Has no one else ever encountered this with this company? Thank you for your responses. I appreciate all your help.

This is a common phony collection scam. You have a common name and your cell phone and address are very accessable. It is considerated mail fraud and under the Mail Fraud investigators. Go to Government web site for info as to how to report them. Turn all info over to them. KEEP COPIES SO THAT YOU CAN TESTIFY AGAINST THEM IN COURT. Any real debt over 15 years old is uncollectable, also, just for info.

I think next time they call you should laugh at them for even attempting to collect on a 25 year old debt, much less one that isn't yours. I'm sure others will be chiming in (steve?) on how to really handle this but trying to collect a 25 year old debt takes the cake!

Can you please tell me what I am to do? This is taking much of my time. According to what I have read in your posts, I can sue these guys for $1,000 and I am over 62. I live in Mobile. I have followed all your instructions. The letters keep coming. Is there an attorney I can contact?

I sent cert letters as suggested. I reported them to every agency. I asked that they cease contacting me. I received another letter this time asking me to prove fraud. How am I to prove fraud when they won't validate the debt? I have no knowledge of this debt. It doesn't appear anywhere on my credit reports. When I called them they stated it was from 1981 Chase. I did not have any credit cards at that time. I am sending another letter cert. And filled out another complaint against them. What they specifically ask for in the letter is a copy of a police report stating fraud. A notarized fraud/id theft affidavid. A letter from a previous creditor stating the account is fraud. I have no specific information on this debt except the amount of $879.03 the name Chase and this company Asset Acceptance LLC. HELP What do I do now?