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DV from Asset Acceptance looks sufficient...Now what?


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Sent a DV letter to Asset Acceptance about 2 weeks ago before I left for a 10 day business trip. Upon return, I received their DV response. They included a copy of my credit card statement from years ago (which they obtained from Bank of America), and request that I call to resolve the debt.

Not sure where to go or what to do now.

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The credit card statement was from years ago. They have not proven ownership of the debt. For all you know they could be the 3rd or 4th owner of this debt. There is no chain of ownership that they will be able to establish. So a statement from years ago, go tell them to pound sand.

That might have been the only statement that BofA gave them after BofA sold the debt and it is the only document linking you to the debt they are trying to collect on.

Asset Acceptance is at the bottom of the JDBs. They try to collect on debts that have been sold multiple times in most cases. Hopefully you wrote in your DV a cease & Desist.

If you talk with them, tape record all conversations. They are in Michigan, so you can record. Never admit to the debt, but call them a few times and tape record conversations with them, everytime you call and they do not give you the mini-miranda or threaten legal action, then you my friend have a lawsuit against them.

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Well you have a couple of options...

1. Pay it - lump sum or make arrangements (bear in mind that you need to get anything in writing);

2. Do nothing... they may sue

3. Tell them to pound sand...they may sue or do nothing.

It is however past the statute of limitations, so I don't think they will sue.

It looks like this should fall of my credit report this spring coming up. I might just leave it alone.

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