chava2002 Posted March 18, 2005 Report Share Posted March 18, 2005 I received a letter from ASSET acceptance stating that my account was just assigned to them. It's your basic first notice stating that you can dispute the validity of the debt within 30 days. I went ahead and sent them a DV letter. I was looking at my credit report and this account has been reported since June, 2004.Why would they send me a letter stating, "first notice" when in fact it wasn't? They go on to say that they are pleased to welcome me as a new customer.... Either way, can't I use this letter against them? They are welcoming as a new customer and giving me a chance to dispute the debt but they have already been reporting this account for a few months.Yup, I am trying to build a case against them. Link to comment Share on other sites More sharing options...
willingtocope Posted March 18, 2005 Report Share Posted March 18, 2005 Nothing major at this point, I think. What does the OC's TL say...sold? Chances are A$$et even did a credit pull before they took on the account, but so far at lease, the only kinda bent the rules.See what the DV brings... Link to comment Share on other sites More sharing options...
Broke Chick Posted March 18, 2005 Report Share Posted March 18, 2005 From what I understand about A$$ET, they will, often, "sit" on accounts for a long time, with the intent of waiting to see if you are actively "cleaning up" your CR and/or acquiring a new, "attachable" asset, such as a home, car, or higher-paying job. If this appears to be the case (which they determine by "pulling" your CR's on a regular basis), the "A$$ET Collection Machinery" goes into action.The letter you got is, from all reports (I have not (yet) had the "pleasure" of dealing with these "people"! ), the typical "first communication" from them...it will only get worse from here on in!! A$$ET is also "sue happy", so be prepared to go to Court in the future. Check your local courts for up-to-date case filings (often available on-line) so you DON'T end up with a default judgment due to improper ("sewer") service of process--another common A$$ET trick. If you answer the complaint, however, they tend to back down (dismiss the complaint)--so, if you receive a summons, DO ANSWER it.If you receive one of those "Affidavits of Debt" they use for "evidence"/"validation", attack it right away! (It is third-party hearsay, and thereby invalid in Court.) If they try to do an "account stated", attack that too. Don't let A$$ET get the upper hand!! Link to comment Share on other sites More sharing options...
devil21 Posted March 19, 2005 Report Share Posted March 19, 2005 Ahhh my friends at Asset Acceptance (waves to Michael Beach). Here's your angle. If the respond to the DV, it will be a letter that violates continued collection activity and an "Account Statement" that shows the bare minimum of info. After you receive it, send them another CMRRR letter that you continue to dispute the account. That prevents them from claiming "Account Stated" because you did not dispute the Account Statement further. This is a practice you should always use regardless of the collection agency. Anyway, wait about a week after you sent the DV and dispute with the CRAs regarding how the account is reporting (Open status, Past Due balance, 120 days late, Factoring Company Account, etc are ALL violations and illegal reporting). The CRAs will dispute for you and Asset will verify the accounts as correct. That's your in to get a federal complaint built. Honestly, you will probably have to sue them to get rid of them. Is the account out of SOL for your state? If not, you may want to just sit tight and not stir the pot. Feel free to PM me if you have any questions about dealing with them. Link to comment Share on other sites More sharing options...
Conspiracist1169 Posted March 19, 2005 Report Share Posted March 19, 2005 I too, recently became one of ASSet's "customers". They repeatedly sent me a bunch of account balance statements, demanding payment, etc.I finally DV'd them in January. They never responded, nor have I received another account balance statement since.I disputed their posting on my CR's to the CRA's. According to the CRA's, Asset did validate the debt - at least enough to remain on my credit reports.Interestingly enough, I was able to get the charge off from the OC deleted from my CR.Any thoughts? Link to comment Share on other sites More sharing options...
devil21 Posted March 19, 2005 Report Share Posted March 19, 2005 They dont have to respond to your DV since its not timely. Your only real option is to go after their reporting violations. Read my above post. Link to comment Share on other sites More sharing options...
workinninetofive Posted March 20, 2005 Report Share Posted March 20, 2005 How much are we talking about? Link to comment Share on other sites More sharing options...
ghacorp Posted March 21, 2005 Report Share Posted March 21, 2005 devil,Asset Acceptance is a bunch of sly devils. They usually DO respond to DV, but with a copy of a statement and "they feel they've complied with the law, so how are you going to pay us"? AA also attempts to reage accounts and if the SOL is about to run out in your state they will notate "consumer cannot be located" so as to stop the SOL clock. Most people report they are dunned and reaged well out of SOL. Some of the other JBD's like UNIFUND pull the same slimy maneuvers. It's a numbers game and as you can see if even only a small percentage of debtors pay anything at all, it's a profitable investment for their investor owners! Link to comment Share on other sites More sharing options...
devil21 Posted March 21, 2005 Report Share Posted March 21, 2005 Maybe you didnt catch my signature and my post above Im very familiar with them and will become even more familiar in the very near future. Link to comment Share on other sites More sharing options...
gdouglaslee Posted March 21, 2005 Report Share Posted March 21, 2005 Why would they send me a letter stating, "first notice" when in fact it wasn't? They go on to say that they are pleased to welcome me as a new customer.... Either way, can't I use this letter against them? They are welcoming as a new customer and giving me a chance to dispute the debt but they have already been reporting this account for a few months.Yup, I am trying to build a case against them.Not like that you're not. You got nothing, no violations there. Link to comment Share on other sites More sharing options...
chava2002 Posted March 22, 2005 Author Report Share Posted March 22, 2005 I just got the responce from ASSET today. As you predicted, a typical statement saying I owe this much...blah blah blah. I guess I'll have to send them a second letter. Link to comment Share on other sites More sharing options...
devil21 Posted March 23, 2005 Report Share Posted March 23, 2005 Dont bother, it wont do you any good. This is the point where you start drafting your fed complaint! That is the ONLY thing that will get rid of them. Anything else is a waste of time and paper. Link to comment Share on other sites More sharing options...
chava2002 Posted April 2, 2005 Author Report Share Posted April 2, 2005 ***UPDATE***It turns out that the listing on my credit report was for another credit card (discover). I guess they now own two of my accounts. Either way, I sent them a DV for the discover card as well. I am sure I will get the same results.Anyway...this is what I found out today.***I just got a "credit alert" from credit expert. It looks like ASSET is now reporting the MBNA debt as "public record." They reported it on 3/14/05. A day later, ASSET sent me their so called "validation" (computer printout). There is no way that ASSET can have a judgment against me so fast, even a default judgement.They sent me the 1st notice letter on Feb. 12th, which I responded with a DV on March 7th. They never bothered listing this as a collection account, they put it in as public record on the March 14th and then sent me the computer generated statement on March 15th.I wonder if they will do the same thing with the Discover card DV I sent them?I know this probably won't surprise anybody around here. Link to comment Share on other sites More sharing options...
LadynRed Posted April 2, 2005 Report Share Posted April 2, 2005 Just an FYI heads up folks. Someone told me yesterday on another board that a NACA lawyer in his area is seriously considering a class action against ASSet. I told him to keep me posted, if this lawyer DOES get one going, I told him I know where he can find many others who would gladly join a class action against ASSet ! Link to comment Share on other sites More sharing options...
devil21 Posted April 3, 2005 Report Share Posted April 3, 2005 Theres numerous attorneys investigating class actions against them. Does the one you are referring to have the initials of TB? Link to comment Share on other sites More sharing options...
CreditSuperstar Posted April 3, 2005 Report Share Posted April 3, 2005 Devil-I too am dealing with a$$**le Acceptance. They appear on my CR as having purchased a Providian debt. The DOLA is 1 month different than Providian's DOLA, which also appears on my CR. Is THIS a violation or no? IS one month difference enough to get them?Also, they are not licensed in Connecticut (my state). I called them during non-business hours to see the status of the account and was told via recording to contact Credit Management Control Corp. CMCC IS licensed in Connecticut, however they do NOT appear on my CR's. I have DV'd both, filed disputes with the CRA's AND am drafting a complaint with the Connecticut Banking Commission. Am I on the right track here?Thx in advance-FCS Link to comment Share on other sites More sharing options...
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