Asset Acceptance LLC - how do they collect debt

Posts: 1235
Credits: 35065.55

A highly discussed collection agency of DebtCC forum is asset acceptance llc. Main complaints against them are:

  • Contacting wrong person
  • Trying to collect debts occurred in ID Theft.
  • Collecting debts as old as 20 years.
  • Reporting to CRA (usually TransUnion) without informing consumers.

Physical address as posted in the forum:

Asset Acceptance LLC
P.O. Box 2036
Warren, MI 48090-2036

Asset Acceptance LLC
28405 VanDyke Ave
Warren, MI 48093

They also operate from Ohio, Texas, Virginia, Arizona, Florida, Illinois and Maryland. See their report with BBB.

They buy accounts from creditors like Providian, Citibank, Household Credit, Bally etc.

Here is a story: Asset brought legal action for the debt not owed by the consumer (Sandy)

Asset contacted Sandy for an old visa card debt that belongs to someone else. Asset did not send any bill, instead they send summons. Sandy was sure that he did not owe nothing. He answered to the court notice immediately and appeared to the court hearing. When Sandy denied the responsibility of this debt, Asset brought a Mediation hearing against Sandy. Surprisingly, when Sandy appeared in the Mediation hearing, no one from Asset was seen there. Sandy was informed that the case was ‘Dismissed with Prejudice'.

Read the full conversation with angelblue_34205 (Sandy) and community members.

Some other stories on Asset Acceptance LLC:-

  • Asset Acceptance LLC did unauthorized debits from bank account.

  • Asset Acceptance LLC / Bally's account – collecting and old, already-paid debt.

  • Asset Acceptance LLC / Bally's account – re-aged the debt.

A list of debt collectors and few successful strategies of dealing with them


Sub: #3 Credit Card Debt
Tue, 04/21/2009 - 12:21

I received a summons today from my local court from Asset Acceptance LLC in Warren, MI. I live in NYS. The summons does not require me to appear personally but to "answer" to the two causes of action. The credit card debt includes interest. and it is a valid debt. However, I have been out of work since 9/05 and began receiving disability in 2/06. The date of the debt on the summons is 12/31/06; probably when this debt went into default with Chase Bank. The summons is dated 3/30/09. My local city court date stamped their receipt of it 4/7/09 at 10 AM. The summons was served to me in person (it's a xeroxed copy) today, 4/21/09. You advice as to my next move? Thank you!


Sub: #4 Asset (in polite name)
Wed, 03/11/2009 - 10:33

They have been harrasing me for years now. This is on a very old debt that goes way back to 1990. I live in CA and I believe that there is a time limit. They even slam dunk us in CA, saying that none of us pay our bills.


Sub: #5 Asset Acceptance called ny childrens school claiming they were d
Mon, 03/02/2009 - 11:18

Asset Acceptance called ny childrens school claiming they were doing employment verification on me. They were looking for a cell phone number. When I called to see what they wanted the service rep hung up on me twice and then told me to have my lawyer call them back. She would not give me any information as to what they were trying to collect.


Sub: #6 Asset Acceptance
Mon, 02/16/2009 - 13:47

WOW.. Its amazing how much this company gets away with..

I was just served a summons by Asset and they are suing me for an OLD CC account. But what they did is took the chargeoff balance from CitiBank and then got the amount of interest that was INCLUDED in that chargeoff amount and are suing for it separately!.. (I know this sounds confusing.. but I will break it down with some random #'s)

Say Chargeoff Amt was $5,000.
They are saying that purchased Interest is $3,000.
So TOTAL AMT DUE IS $8,000. (when is reality that $3,000 is already INCLUDED in the $5,000 chargeoff Amount!)

Thus trying to DOUBLE their "collectible interest"

Iam countersuing for sure, but we are still in litigation, so we will see how it goes. Not to mention I never got a dunning letter, and they served a wrong address (a rental property I own), even though on THEIR own paperwork they have my correct address. Not to mention several other FDCPA violations, including having their attorney send me a letter saying if I didn't agree to a Default Judgment in the amt of $10,000 then they would NEVER let me make payments on this debt .. they would garnish/sell my stuff!(Even though they are only suing me for ~$6,500!!!!!! Ridiculous

Posts: 63
Credits: 1382.55

Sub: #7 Ah I love AA. So after all was said and done with them getting t
Thu, 10/16/2008 - 13:13

Ah I love AA. So after all was said and done with them getting the judgment on me...they offer me a deal. I received a letter from them offering me 50% off. My payment would be around $1600 and they'd send me a letter saying my account was paid in full.

They must really be desperate for my money, lol.

Either way I'm going to call them and tell them that if they can extend it into next month I'll take the offer. If they agree, that's one third of my debt knocked off.


Posts: 4677
Credits: 30821.544972777

Sub: #8 What state do you live in? When was the last time a payment was
Fri, 10/10/2008 - 15:25

What state do you live in? When was the last time a payment was made on the account?


Sub: #9 aacc - sol
Thu, 10/09/2008 - 12:45

How long is the sol for credit card debt? I am dealing with asset acceptance trying to collect a debt that my daughter ran up about 10 years ago. They placed a point on my credit report without notification. My daughter doesn't have a problem paying in full, however, they never leave a message on her phone with a number to call, and they call me and say she hung up on them after she answered. I know this to be a lie. My daughter doesn't care who it is that is calling because she does answer and will "tell it like it is." She will pay the bill because she knows it is hers and is in a position to do so now. They are sending me letters now with a reduced price to pay off the debt but I don't know now if this is legit. What do I do?

I live in Michigan


Posts: 4677
Credits: 30821.544972777

Sub: #10 What state do you live in? SOL is state specific. Reporting pe
Wed, 10/01/2008 - 03:44

What state do you live in? SOL is state specific. Reporting period is 7.5 years from date of first default so if this is from 2001, it should be close to dropping off.

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