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Asset Acceptance is killing me!!!


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I had an old Providian card from 1998 that was sold to Asset Acceptance. I agreed to pay them in two payments, signed the settlement stip and paid them off in December of 2004. I obtained a copy of my credit report and it is showing Asset Acceptance with a $303.00 balance also a tag line that reads unable to locate individual. I paid these guys off the exact amount that they had listed in their settlement stip. I got denied a car loan because of this. Also when the OC sells or transfers an account to a CA is it correct to be listed twice on the reports. It looks as if their are two separate collections when in fact it is one account that was transferred. This is showing on all 3 of my reports. Any advice or case law I can cite in my letter to Asset?

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Kidrio (are you from Rio?),

I am dealing with ASSET & Providian in a similar situation. They are both listing it on my reports and it also affected my ability to get an auto loan. From what I have been told by the members here, it is perfectly okay for both Providina and Asset to list this on your report. Unfortunately. You (and I) need to deal with them seperately.

Can anyone else jump in here?

FCS

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I was reviewing the settlement stip and it appears that they made a mistake on the amount owed. In the stip it said to pay the amount of 1300.00 in full, I would make two payments of 606.00 each, which I did. Obviously that does not add up to 1300.00 which is why they are showing a balance on my CR. The thing is, no where on that stip does it say anything like "in exchange for 1212.00 will we settle this debt." etc. It just appears that their math department was out to lunch when the wrote the stip. It's funny because I had to call them back in October of 2004 when I received the stip because they put in there that I would make two payments of 606.00 on the 23 of November 2004 and the 23 of December 2002! When I called and explained why I needed them to send me a new stip, the man said "So what's your point?" I said "well it says December 2002, rather than 2004." Again "What's your point?" I said "My point is it is 2004 and it looks like I am violating the terms of the agreement and I am late with a payment because you have 2002." His response was "Well anyone would know that was a mistake, but if you want to be a nervous nelly, I suppose we can change it to 2004 and send you a new one, but anyone would know it was just a typo." This from a company that is reporting an paid bill as unpaid, and re-aged the account in the first place! They made this deal with my husband who agreed with it, even though it was my account, and they told him on the telephone that they would have my credit report read "Paid In Full As Agreed", but of course my husband not knowing, did not insist on anything in writing. It was my debt anyway and I wanted to pay it, however from reading the other posts, this company is horrible!

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I honestly skipped through all the rest of the replies.

SUE THEM!

You have violations of the FDCPA and FCRA if you disputed with the CRAs. SUE THEM and let them pay you and delete. I am involved in a lawsuit with them so feel free to PM me if you want any help. Also check www.artofcredit.com if you want to follow my thread history on my suit with them. Most people will only get rid of them with legal action. Consider the other "deletions" as anomolys.

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Yes, this is past the Statute, however, my HUSBAND answered the call from them and made the deal. Again, it was my debt and I wanted to pay it, however if I had know what they would do to me now, I would have refused. They are also pulling that re-aging scheme by putting "UNABLE TO LOCATE" with the dates 11/2004-3/2005 in my CR. I paid them off in December of 2004, yet they continue to do this. This is my only bad mark on my CR and I was at my bank trying to secure financing for a car that fell through because of this. I am more than annoyed at this point!

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When I first saw my CR in the beginning of March, I didn't realize that the TL was for this account as it was recent, the unable to locate thing, and the balance, so I disputed with CRA's as Not My Account. It actually is, however it should list paid in full. Should I re-dispute with CRA's or should I just leave it to see what they come up with?

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I received in the mail today a Notice of Voluntary Dismissal dismissing the case without prejudice. Because of my disputes with the CRA's I suppose? Should I still proceed with ITS as if I never received this or just leave it alone?

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Please don't slam me for ignorance- I am just starting out, but on what grounds would I sue them? They did send me the Dismissal. Also I did pay them because it was my debt, so I can't ask for my money back. Again, I am trying to do much research on my own so I am not relying on anyone to give me all the answers. It's just that there is so much information regarding so many different topics my ADD is kicking in and I am getting overwhelmed.

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Im in the middle of a federal suit against Asset. PM me if you want a link to all of my documentation for templates and such. I also have posted their full answer (standard), motion to dismiss, etc.

EDIT: Btw, if you are a very new person and havent posted anything, do not bother to ask for the link, I will not give it to you. Contribute to the forum, then ask. I gotta cover my a##.

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Codename- The pay for delete was a verbal between my husband and Asset~nothing in writing. When the papers came via the process server, he got scare for me that I would freak out and called them and arranged the deal without telling me. He thought, and was, doing the right thing, however I would have gotten everything in writing.

I was also reviewing the FDCPA because I know that I have to site actual statutes, and was wondering if I have a violation of 805(B) Communication with Third Parties since they made the deal with my husband? I did, however, sign the Stip. Then perhaps under 808(1) The collection of any amount, etc... because there is a balance owing on my credit report of $303.00 (for what I have no idea) that was never discussed and under 808(2) regarding the depositing of post-dated checks. My husband gave them two post dated checks over the phone, the first one month in advance, the second two month in advance of date, but they never sent us anything in advance of depositing those checks. Also the re-aging issue, however I have not found anything as to the actual statute for that.

The car loan was not in writing. I was just at the dealership, however, I do have the denial letter from Citibank which is where the loan was going to be placed.

Devil~I will PM you this evening. I appreciate all of your help during this extremely stressful time.

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  • 3 weeks later...

Asset and Providian are doing the same thing to me. I have sent 2 DVs to Asset and only receive a made letter with updated info saying it is mine. Havent received anything from the second DV which should be up in 2 days. The account is from a credit card with DOLA 4/01 and I am in Virginia. What should my next step be. I really need to get this off my credit report because I am moving up in the company I am working for and they do a credit check before making that decision. I would hate that this would keep me from my promotion.

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