gtty Posted January 26, 2007 Report Share Posted January 26, 2007 I have an old citibank account that was bought over thirteen years ago from another credit card. The original card is probably over 16 years old. Asset Acceptance has just purchased the debt and sent me a letter. I doubt that Asset Acceptance has any of the original paperwork from the original card. Do you guys think that Asset Acceptance will be able to verify this debt? What is the likelyhood that they will sue me. Debt is over $9000. Anyone have any experience with these guys. Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted January 27, 2007 Report Share Posted January 27, 2007 16 years.. NOT likely.. just send them a DV letter to verify the debt is out of SOL.. in texas they have four years from the date of last activity or last payment. if you have not done either in that time period you are fine... you are well out of that.. they won't sue on something this old but NEVER speak to them via phone.. send a DV...... after that they can sue (NOT likely) but you have an affirmative defense.. or you can send them a C&D cease disist and they will more then likely go away Link to comment Share on other sites More sharing options...
gtty Posted January 27, 2007 Author Report Share Posted January 27, 2007 Sorry, I was not clear. I originally took the card out with another bank over 16 years ago. Citi bought the bank card account 3 years later. The last payment I made on the card was approx 2.5 years ago. Still within SOL. Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted January 27, 2007 Report Share Posted January 27, 2007 AHHH totally different story..they may sue but DV them first.. its a hard call do you know if they own the debt or are just the CA Link to comment Share on other sites More sharing options...
allstar18 Posted January 27, 2007 Report Share Posted January 27, 2007 Forgive my ignorance but how can you tell if they purchased the debt ( they own it ) or if they're collecting for another company ( acting as their collection agency )? I am assuming they'd never be forthright with that information via letters or on the phone so how do you deal with that? Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted January 27, 2007 Report Share Posted January 27, 2007 Forgive my ignorance but how can you tell if they purchased the debt ( they own it ) or if they're collecting for another company ( acting as their collection agency )? I am assuming they'd never be forthright with that information via letters or on the phone so how do you deal with that?it should be on the letter.. who the creditor is and if they are acting in behalf of or in place of and NEVER talk to them by phone Link to comment Share on other sites More sharing options...
gtty Posted January 27, 2007 Author Report Share Posted January 27, 2007 Asset owns the debt according to the letter. ACS was trying to collect for Citi earlier this year, but I am currently suing ACS for violations so I guess citi sold it to wipe their hands of it. From what I am reading on Budd Hibbs, these are some bad folks. Wonder what my chances are if they sue.CArolina, here in Tx we can record calls. ACS hung themselves with the call and we are using the recording as a club Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted January 27, 2007 Report Share Posted January 27, 2007 we can record here too but thats a counter move.. its hard to tell I have had asset stuff that went away with a dv.. and they have not sued.. I am in a state (like yours) where they cant garnish and have a short SOL (three years here)... honestly its really hard to say but stay off the phone with them..that much I know Link to comment Share on other sites More sharing options...
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