sjhnjah Posted March 29, 2004 Report Share Posted March 29, 2004 For other newbies out there Asset, LLC and Asset Acceptance, LLC are the same. I just called TU and checked for an address for Asset, LLC and they have the same address as Asset Acceptance, LLC. Asset, LLC pulled a hard inquiry 3/15 on my report with a PP of "finance, personal". I have not made an application for anything for years! So... they are misrepresenting about their purpose for pulling my report. Is this illegal? Link to comment Share on other sites More sharing options...
DocDon Posted March 29, 2004 Report Share Posted March 29, 2004 Asset buys bad debts. Link to comment Share on other sites More sharing options...
sjhnjah Posted March 29, 2004 Author Report Share Posted March 29, 2004 Yes, but can they state they are pulling my report for financial, personal reasons when they are really pulling for collection? Link to comment Share on other sites More sharing options...
DocDon Posted March 29, 2004 Report Share Posted March 29, 2004 Collection is a financial purpose.Does the entry jog anything about what the debt was for? Link to comment Share on other sites More sharing options...
sjhnjah Posted March 29, 2004 Author Report Share Posted March 29, 2004 No, not specifically, but there have been several "new" collection inquiries since I began this debt repair. Until February 1, this year, I have been paying my 6-7 year dues for a past messy divorce, so a lot of skeletons are being shaken up. All the others have stated "Collection" so I was just curious if they were being skeaky or if it was illegal. Now that I've stuck my head up, there are a lot of people out there who want to take a shot at me. Link to comment Share on other sites More sharing options...
DocDon Posted March 29, 2004 Report Share Posted March 29, 2004 Asset (like Sherman) has a history of buying debts whose SOLs have expired, then try to collect on them. Texas has an SOL of 4 years across the board. If these debts are older than that, they cannot collect on them. They can try, but you have the law on your side and can use it to make them stop and delete any entries or inquiries. Link to comment Share on other sites More sharing options...
sjhnjah Posted March 29, 2004 Author Report Share Posted March 29, 2004 I didn't know I could stop inquiries. I learned through this forum about the 4 year sol for Texas and have used it in some of my letters. Are you saying I can dispute inquiries as well? I owe no one anything less than 6 years old. That is why I thought it was safe to come out of hiding. Link to comment Share on other sites More sharing options...
DocDon Posted March 29, 2004 Report Share Posted March 29, 2004 Yes, you can demand removal of the inquiries - they bought an uncollectable debt, and while they had PP for viewing your report as the owner of the debt, because it is uncollectable, and they knew that, not only are they compelled to remove the entry, but the inquiry as well since it is deemed damaging to a credit score.Love the loopholes. Link to comment Share on other sites More sharing options...
sjhnjah Posted March 29, 2004 Author Report Share Posted March 29, 2004 Thanks for the clarification Doc! I was just trying to wade through an old thread regarding this. I will be disputing this afternoon!Thanks again for all the help you give to all of us!! You are the greatest! Link to comment Share on other sites More sharing options...
DocDon Posted March 29, 2004 Report Share Posted March 29, 2004 Because of the pattern of abuse by Asset, you may want to include this in your letter to them:"should you choose to ignore this request and continue to attempt collection on this account in direct violation of Texas statute, all information will be forwarded to the appropriate government agencies for further processing." Link to comment Share on other sites More sharing options...
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