Asset Acceptance is a trade name used by several companies owned by the parent corporation Asset Acceptance Capital Corporation which has existed since the formation of the predecessor company in 1962. Asset Acceptance Capital Corp's main revenue-generating company is the Asset Acceptance, LLC company.By purchasing defaulted consumer receivables at substantial discount, Asset Acceptance, LLC acquires the rights to renegotiate settlement of the debts in place of the original creditor. (wikipedia)
Within the debt collection industry, Asset Acceptance has acquired a reputation for using extremely aggressive collection tactics that often border on the illegal. Nearly every state's Attorney General's office has a litany of complaints against Asset Acceptance claiming that the company has violated the statute of limitations for debt collections in that state.
They are also noted for the numerous methods they use to circumvent the laws prohibiting debt collectors from contacting debtors after the statute of limitations has expired. Additionally, Asset Acceptance has been among the most consistent violators of the Fair Credit Reporting Act through their persistent attempts to misreport charged-off debts to keep them from expiring from consumers' expurgated credit reports.
Now, they have emerged with new tactics by purchasing debts that have been previously disputed with the original charger and are not valid, this is what has happened to me. They are insistent on collecting even though have been furnished with a complete police report and other information verifying that charge was fraudulent.
I am in the process of seeking out a channel to see how many other people have fallen prey to their game. Maybe a class action lawsuit can be sought against them.
0 comments