These people don’t budge on gw’s. does anyone have advice or good contacts, I don’t know maybe I’m just stuck with them.
Mar 112011
Feb 272011
I have the following reporting across all three reports
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Child support (Collection Acct $500.00)
Asset Acceptance- $634.00 open account factoring
Wood LAw PC $101.00 open Collection
3 max out credit Cards $300.00 limit
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If I have the the Child support, wood law pc and the asset acceptance removed. and paid off all the balance on the maxed out cards to $1.00 what would my score be. Right now I have like a 580ish on Transunion and 582 on equifax.
Feb 122011
  Never surrender…………….Â
            Asset Acceptance has responded to several DV letters over the past few months but never truely validate. After beating my head on the wall I emailed the BBB ( waste of time ) My most recent attempt was contacting the Michigan Attorney General. I mailed copies of all correspondance between myself and Asset Acceptance and filed a complaint that Asset Acceptance has not correctly Validated the debt.    Here is the response from Asset acceptance to the  Michigan Attorney General.
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Dear Sir or Madam:
Asset Acceptance, LLC (AALLC) is in receipt of correspondence from your office, dated Jan.’ 4, 2011, concerning a complaint filed by xxxx xxxx. I have had an opponunity to review the consumer’s complaint. as well as AALLC’s applicable account notes and records.
Please be advised that AALLC s:nt out its first notice in December 0(2007 to Mr. xxxx
. indicating that he had thirty (30) days to ;ontaet our office if the account was in dispute. AALLC did not rec:cive anything from the consumer within that limeframe. His validation rights had expired. Nevertheless, additional infonnation was provided to Mr. xxxx.
AALLC’s
Additional documents are not readily available, based on the age of the account AALLC cannot conclude that the account is not owed by the consumer based upon the information provided. Nevertheless, in the interest of resolving this matter. AALLC has agreed to cease further collection efTotts and close the account.   Â
                                                          AWESOME !!!!!!!!!!!!!!!
Jan 052011
Are collection agencies allowed to report debt validation to credit reporting agencies? Both Asset Acceptance and Credit Mgmt Inc sent notices to all three of my CRA’s.
Nov 192010
On my Equifax report, I have two collection accounts that are listed under both installment accounts and collections. These accounts are only listed this way on Equifax – not on the other two, even though both collections are listed correctly on the other two.
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Installment listings:
Asset Acceptance – Balance 0 – late 120 d – collection (OC First Natl Bank Marin – not reporting)
Portfolio Recovery – Balance 0 – late 120 d – collection (OC MBNA – also reporting under revolving credit, as would be appropriate)
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Collection listings:
Asset Acceptance – paid collection (OC First Natl Bank Marin)
Portfolio Recovery – paid collection (OC MBNA)
Portfolio Recovery – paid collection (OC HSBC – interesting that this one lists only as collection not installment)
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A few questions:
- Is this correct? It doesn’t seem right to be listed by the CA in twice for the same account (I understand that the OC and CA can both report, but that’s not what is happenng here).
- Is this impacting my credit score?
- How can I get this corrected? Even if it isn’t impacting my score, it may raise a red flag on manual review of my report when I go to buy a house in the spring, so I’d like this fixed.
- I’ve heard that Asset Acceptance is really hard to work with and can be punitive when you attempt to correct things with them. Can I write a letter to the CRA to get this fixed?
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Thanks in advance!
Jessica
Hi MyFico board – been away for a while trying to rebuild, but now I have a question I’m a bit stumped at where to go with this. Asset Acceptance has started calling me about an old CitiBank card that I think is beyond the statute of limitations. I know I’ve had an account with citibank and tried to negotiate to settle it back when citibank had it – just didn’t have the money to do so. And I sent letters to Asset Acceptance to try to negotiate and haven’t had any response since 2006. Now I’ve got a collector from Asset Acceptance calling me on this and it has of course ballooned to $18K (orginal card was $6K) I’ve checked all my reports and neither CitiBank or Asset Acceptance is on any of them. Where do I start with this? I want to eliminate this as a problem completely and this is the absolute last of the baddies I had. I’ve read that Asset Acceptance can be a bear to deal with and they haven’t been the most cooperative in my brief interactions with them. I’ve already asked for something in writing. I usually request that we only interact by mail, but I don’t want them to start showing up on my CR since they are not there now. So okay where do I start?Â
May 242010
Trying to clean up my Fiances credit report and she has a collection with Asset Acceptance that is labeled as:
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Loan Type:Â Open Account – Factoring Company Account.
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Are they allowed to report this way on a debt of a Revolving account they bought from Capital One ?
May 182010
I have a charge-off of $1,427 listed on my 3 CR’s with a 120+ day past due from Asset Acceptance. It was placed for collection in 10/2006. The OC account was Citibank with a balance of $891 and a DOFD in 9/2004 (per my CR). It is scheduled to fall off my CR’s in 7/2011. I wrote to Citibank requesting a payment history in order to verify the DOFD but received no response.
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I sent a DVD to Asset Acceptance and they verified timely within the 30-day Texas statute. I then sent a PFD via CMRR to Asset Acceptance for an offer to settle for $200 with deletion, since this charge-off is nearly 5 3/4 years old and beyond the 4-year SOL. Asset Acceptance did not respond.Â
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Asset Acceptance has been sending me automated settlement offers monthly. The latest was for 50% or $707 with an offer to report as paid to the CRA’s which I know will not help my credit score at all. Current FICO scores: Equifax 808 Â Transunion 731.Â
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Does anyone have any experience in dealing with Asset Acceptance or any other suggestions? This is the last major derogatory on my CR’s. Thanks
Apr 152010
Hello all, this is my first post here on the forums. I’ve been reading everything here for the past few weeks and trying to learn everything I can, and thanks to all the great information on this site my credit score is already on its way back up! It feels good to be finally facing up to my past mistakes and taking control of my credit again. Currently I have four medical collections that I plan to use the HIPPA process on, an old power bill that’s in collections that I’m going to try to PFD, and a charge-off from Chase. It’s the charge-off that I’m most concerned about. The DOFD is March 2007, and I’m in Minnesota so it still has three years to go on the SOL. It was sold to Asset Acceptance in June of last year, but I didn’t find this out until I pulled my reports about two weeks ago. After doing a little research, I’ve learned that this is just about the worst CA to have to deal with and that my chances of getting a PFD or GW are almost zero. The charge-off was for about $600, but with all the interest they’re adding on it’s up to about $1500 now.
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My question is, should I just pay it off? I know it won’t help me at all score-wise, but with all the interest they’re adding I’d hate to try and wait for the SOL to run out only to be sued for even more money. I know Asset is up to no good, they’re reporting that the account is open, 120+ days past due, and they’re reporting as a factoring company. Is the way they’re reporting this hurting my score more? Should I try to DV them, even though I’ve never received any kind of communication from them? If it helps, I’m not planning on getting a mortgage for at least two years, so I’m thinking it would be best to just pay this off and take the credit score hit while I’m still in the repairing / rebuilding stage instead of down the road when I’m trying to make a major purchase.
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Any input is very much appreciated!