btammymcneilpaul

Asset Acceptance put dispute on my CR

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I sent a validation letter to a collection agency Asset Acceptance. They did not validate the debt. All they sent me a letter that stated:

" We are in receipt of your correspondence regarding information reported by credit reporting agency related to the above account. We have reviewed the information you provided, as well as our notes and the information provided by from the original creditor. As a result of our investigation we have reported your account as "disputed" to the credit reporting agencies."

They did not validate anything and can they do that. Also what else should I be doing. Should I send another validation. I am at a loss. Can someone please help me.

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This is the type of situation why I personally don't believe in debt validation.

You send it first class mail, waste a stamp and half of the time they claim they never received it, or you spend 5.00 certified mail return receipt requested and they give you the typical line and report it anyway.

Is this debt past the SOL for PA? It is 4 years from the date of the last payment.

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Now to continue my saga, I received a letter from Asset acceptance telling me that they know about financial difficulty and offered to settle for 50 percent of what I supposedly owe. Are they tell me they are going to keep "disputed" on my credit report that they decided to report or are they telling me that they have validated the debt and that I need to pay. I have asked in the last two validations the following information.

1. An explanation of what the amount owed is for and how it was incurred

2. An explanation of how this amount was calculated.

3. Copies of any documents that show I agreed to pay this amount

4. Complete payment history starting with the original creditor.

5. Proof that you own the debt or has been assigned the debt

6. Copies of statements from the originial creditor

7. Copies of the original signed loan agreement or credit card application is satisfactory.

8. Copies of any documents that show I agreed to pay this amount.

9. Verification or copy of any judgment, if applicable

10. Identification of the original creditor

11. Proof that the statue of limitations has not expired on the account

12. Proof that you are licensed to collect in my state

13. Your license numbers and registered agent documentation

Now the first response to the validation was the name of the company and how much I owe with the amount of interest typed out on their letter head. Well I never had a card from that company. So I sent a second one asking them for payment history starting with the orginial creditor, when the last payment was made and proof that statue of limitations have not run out, copies of documents that show I agreed to pay this amount,copies of statements from originial creditor, copies of the original signed loan agreement or credit card application, proof that the collection agency own this debt.

The second letter stated that they are in response to my request and after a complete investigation that their finding a valid and going to report "disputed" on my credit report.

Now today, I received another letter from them asking for 50 percent of what I supposedly owe, what kind of letter should I sent them back now...I never had this credit card and I want them to show me proof that it is mine. Any suggestions....

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If this debt is NOT yours and you have stated it to them, and they keep up the nonsense, then just let them keep on racking up violations.

You will not get what you are asking for from them until you get into Discovery at Court.......you need to tell them to "pound sand", send them a cease and disist letter.

Asset is a bottom feeder, make them pay you.

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Debt validations, in my honest opinion, almost seem never work.

If Asset Acceptance can't seem to properly validate a debt they claim you owe them, then WHY settle with them? If some lowlife off the street came to your door and said, "You owe me $20,000. But I'm willing to settle with you for $8,000." Would you pay that person just like that without having been shown the proof that such a debt is owed in the first place? Um, no.

Asset Acceptance is nothing but trailer trash—just like Midland, LVNV, Unifund, NCO, Portfolio Recovery, etc, etc, etc. If they rack up FDCPA/FCRA violations, then make them pay YOU.

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From what I gather as of yet they have not sued you correct?

Now you need to send them a cease and desist letter as presently stated.

Record all calls and keep all letters that they send you after the letter.

Then turn around and sue them after they rack up the violations

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Debt validations, in my honest opinion, almost seem never work.

If Asset Acceptance can't seem to properly validate a debt they claim you owe them, then WHY settle with them? If some lowlife off the street came to your door and said, "You owe me $20,000. But I'm willing to settle with you for $8,000." Would you pay that person just like that without having been shown the proof that such a debt is owed in the first place? Um, no.

Asset Acceptance is nothing but trailer trash—just like Midland, LVNV, Unifund, NCO, Portfolio Recovery, etc, etc, etc. If they rack up FDCPA/FCRA violations, then make them pay YOU.

Yeah I did that with Portfolio recovery and they quickly sent me a letter that they would delete themselves of my credit report....

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