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Asset, LLC and Asset Acceptance, LLC are one and the same


sjhnjah
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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?

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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.

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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.

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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. :)

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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.

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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."

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