Asset Acceptance
Collection inquiry stayed on credit report despite closing account

Asset Acceptance LLC, Warren, Michigan 48090

First let me begin by stating that the two sentences below generally discourages further collection efforts by most debt collectors. Just type or print it somewhere on the first correspondence you receive from any collection agency and return same to them.

This debt is hereby disputed in its entirety. Evidence of such alleged debt shall include creditor's address, the date (s) of services or products ordered as well as proof that all of the foregoing were ever requested by the party listed herein.

Generally debts cannot be legally collected from three to six years after the debt (s) has been incurred. The time period is governed by state law. This assumes you have not made any payment during that period of time. Michigan has a statute of limitations of six years for debt collections. However, you may be a resident of another state in which the statute of limitations is only three years.

The above sentences did stop Asset Acceptance LLC in their tracks. They buy uncollected debts from other businesses and organizations for a few cents on the dollar and then attempt to collect from the original debtor. It's my belief that Asset Acceptance LLC has very little documentation on the debts that they purchase, which in 2004 was between five and six million dollars.

In my own situation I noted a collections inquiry on my credit report. There was no address. However, their address and phone number were available from Google. At the time I had never heard of this organization.

I filed a complaint with the attorney general in Michigan stating that I wanted the collections inquiry removed from my credit report. The office of the attorney general proved to be useless. They wrote to Asset Acceptance LLC and subsequently sent me a copy of the correspondence that was received from the Accept Acceptance attorney. He claimed they could not remove that inquiry, which I am sure is an outright lie.

Even though Asset Acceptance did close the collection account against me, they did damage my credit report. I guess it would take a threat of litigation from a lawyer to have this entry removed from my credit file. Incidentally the office of the attorney general in Michigan said they receive five to six hundred complaints against Asset Acceptance on a yearly basis.

Company: Asset Acceptance
Country: USA
State: Michigan
City: Warren
Address: POB 2036

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