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Sued by Asset Accept. Worth fighting?

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Hello everyone. I would really appreciate any help you guys can offer.

Asset Acceptance has recently filed suit against me in my district court in OK for "BREACH OF AGREEMENT - CONTRACT". I only know this because I was searching the dockets online and I saw that they filed last week. I am waiting to be served by a private processor.

They are attempting to collect credit card debt that was charged off by Bank of America in 2009; at that time the amount was $2,475, but Asset is tacking on interest and it currently sits at $3,100+. I have looked at my credit reports and Asset has made entries on them.

I have not done debt validation; it has been over 30 days since I first received word they were collecting on the debt. The first letter I recall receiving (and the only letter I have) was in March 2010; it was from the local attorney's office that Asset is using.

When I saw they had filed suit, I panicked and called the law firm to ask about a settlement and I offered $800. She said the law firm only had the authority to take a 75% settlement (which I don't have) and that she would confer with Asset--although she told me she didn't think Asset would take it.

The law firm called today and said that Asset rejected my offer. She said they would only take the 75% settlement if I paid it all at once. If I want to pay in installments, I have to pay 100% plus the court costs and attorney fees that Asset has incurred so far.

Since I found out about the suit, I have done a ton of reading and research and I think I would like to fight the lawsuit. However, I'm wandering if it's worth it. Do I have a chance or should just try to find a way to pay Asset?

Thanks for reading and for any help you can offer!

Edited by bradmajors
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You are in a good state, Oklahoma, to kick assets derriere.

You can defeat them easily.

Thanks for your reply, Massive!

I was just worried that the phone call I had with the attorney's office about settling could be used against me; somehow it could be used to say I admitted to the debt. Do you think that's an issue?

Just curious: In your opinion, what makes OK a good state for this matter? :)

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You may not defeat them "easily", but you have a good chance. Have you filed your answer.

Thanks for your reply. When I wrote this, I had yet to be served. However, I now have the Summons and Petition. I haven't filed an answer yet. I have thirty-five days. I'm not exactly sure of what to say in the answer and how to say it. Do you have any advice for what I should do next? Any help is appreciated!

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First off, they cannot use any settlement offer against you. Otherwise the courts would be clogged because there would be no reason to try to settle. If they try to do that, object to the evidence.

If you do a search on this board, you will find information on how to form an answer. Basically, you deny each paragraph except for any pertaining to your name and/or address. Then you put in any affirmative defenses that pertain to your situation.

If you have time, I suggest going to the county courthouse and seeing if you can find any cases where Asset lost and looking through those pleadings and copying what pertains to your situation.

More likely than not, this case is in small claims which pretty much means there is no discovery. What happens is that the Asset lawyers will present their case, you present your case, and the judge makes a decision.

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Fight them! I beat them on one claim they filed and I am in the middle of a second currently. They count on people not showing up/not fighting.

When I went to court on the case I won, they tried to bully me before we went in before the judge. Once in front of the judge they pretty much caved!


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  • 2 weeks later...
  • 2 weeks later...

Hey guys,

I'm drafting my answer and I want to make sure I answer in the right way. Would you mind giving me your opinion?

I will type out Asscrap's allegation and then show you how I was planning on answering.

1. Plaintiff, Asscrap Acceptance, LLC, is a foreign corporation doing business in the State of OK.

Response: Defendant is without sufficient knowledge to admit or deny the allegation in paragraph 1 of the petition and therefore denies the same.

2. Defendant, [bRADMAJORS], is an individual residing in [MY COUNTY], State of Oklahoma.

Response: Defendant acknowledges that paragraph 2 of the petition is true.

3. The claim alleged herein arose out of a Revolving Credit Line Account between BOA and the Defendant.

Response: /Unsure/ I did have a BOA account. Should I admit I did and then deny the rest, deny the whole thing or say I am without sufficient information? And by the way, Asscrap Accept does have a BOA account number listed.



4. Paragraphs 1-3 are incorporated by reference as if fully set forth herein.

Response: /Unsure/ Notice that this paragraph appears under the "COUNT I - BREACH OF CONTRACT" heading. What should I write here? That I answered paragraphs 1-3 already? Do I need to say anything separately about the "BREACH OF CONTRACT" heading?

5. Defendant opened a Revolving Credit Line Account with BOA. The Revolving Credit Line Account was subsequently assigned to Asscrap Acceptance, LLC, the current owner of the account.

Response: /Unsure/ Deny the whole thing, say that I have insufficient information?

6. Defendant has failed to make timely payment pursuant to the terms of the Revolving Credit Line Account and is therefore in default.

Response: /Unsure/ Just say 'deny' or say insufficient information?

7. Accordingly, Asscrap is filing this action to recover the unpaid balance of [amount], with accrued interest in the amount of [amount] and interest thereon at the rate of 24% from Feb, 2010, plus costs and fees provided for by the terms of the Agreement.

Response: /Unsure/ Just deny or say insufficient information?

Any help would be sincerely appreciated, guys! I'm mainly just confused about when to just say "Defendant denies allegation" or say "Defendant lacks the information...". If someone could shed some light on that, I think it would really help.

Edited by bradmajors
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