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Asset Acceptance LLC complaints: How to deal with the CA

Asset Acceptance LLC is a collection agency headquartered in Warren, Michigan. They purchase and collect charged-off consumer debts. They claim to help not just the creditors in recovering defaulted consumer debts, but also the debtors in resolving their financial problems. Check out the following section to know what sort of problems consumers have faced while dealing with them and how you can take care of such problems.

Asset Acceptance complaints - How should you deal with them?

Despite having an excellent BBB rating of A+, this collection agency has a number of complaints against them. Given below are some of the complaints consumers have against them and the various ways to deal with them:

  • Collecting debts past SOL: A consumer complained in the DebtCC forums that Asset Acceptance collection agency (CA) tried to collect on a debt that was past the Statute of Limitations (SOL). This debt, almost 20 years old, did not even show up on his credit report and the original creditor had never contacted him to recover it! Know more.

    In case the collection agency is coming after you to collect a debt that has crossed the SOL, let them know that you are aware of expiration of the SOL on the debt. If required, you can also send them an SOL expiration letter. Collection agencies are not allowed to carry on with their collection activities on debts which are past SOL.
  • Unauthorized withdrawal: A customer says that the CA debited $773.80 from his girlfriend's account without prior authorization. When he contacted the company regarding this withdrawal, they admitted having taken the money out of her account without authorization. They also denied to refund the money. Get the details on this.

    To avoid such a situation, you need to make sure that you do not disclose your account information while talking to a company representative. In case they still manage to get your account information and withdraw money from the account, you should contact your bank immediately and fill out an Affidavit of Unauthorized ACH Debit to have your account re-credited. It is always advisable to close the account and open a new one because chances are that the CA may again withdraw money using the same account information.
  • Collection of non-existent account: A person says that Asset Acceptance collection agency contacted him regarding a Fingerhut account worth $25000. He claims that he never had any account with Fingerhut. When he contacted Fingerhut and they told him that he indeed had no account with them! But the Asset Acceptance representative was in no mood to listen to the customer and threatened to report the account to the credit bureaus. Find out more.

    If the CA contacts you for an account, the first thing you should do is to send them a debt validation letter. Let them first validate the account and prove that they indeed have the legal right to collect it from you. If they cannot validate the debt, you are not liable to make any payments to the CA.
  • Collection of a fraud account: A customer claims that Asset Acceptance LLC came after him to collect a fraud account. He says this account was wiped off his credit report and he even has a letter from the original creditor stating that he does not owe this debt. But the CA did not listen to him and insisted that he had to pay it off. Check it out.
    In case you've fallen victim to identity theft and fraud accounts have been opened in your name, you should file an Affidavit of Fraud. The company concerned will carry out an investigation to determine if your claim is true.

    If your claim is found to be true, you'll receive documents from the company stating that you do not owe this debt. Keep these documents handy so you can produce them if the CA comes to collect it from you. If the CA reports this account to the credit bureaus, you can have it removed from your credit report with the help of these documents.

To contact this collection agency, you can use the following details:

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

Phone number: (800) 545-9931

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So far I filed Asset Acceptance LLC complaints with the BBC and the FTC, but her is my story as short as I can make it.
In the beginning of June I received an Asset Acceptance collections letter stating they would meet me dollar for dollar on my credit card debt, so my girlfriend called the company and explained to them that this sounds like a good idea. Chris Sutton the representative handling the case said I needed $100 as intent to cooperate. So my girlfriend used her bank account to pay the $100 to get me going, Chris explained that I must pay $773.80 starting next month for 3 months. July came along and I received a letter stating they would be depositing $773.80 to their account from my girlfriends account. This was not authorized by her or me. So I called them and spoke to a representative named Marva who was filling in for Chris Sutton, I explained to her that I do not have the funds at this time and that we did not autorized any automatic transactions from my girlfriends account. Marva explained that they do not take the funds directly out of the account and that the letter should have been worded better. Happy with this answer I ended the call. Two weeks later we noticed the amount of $773.80 was take from my girlfriends account by Asset Acceptance without authorization. So I called on 8/1/2005 and was told by a supervisor Robert (Bob) Mills that they will not give me my money back after explaining that they took it from my girlfriends account without authorization, and that his representatives told me it would be directly taken out of her account. At this time I asked for the two recordings of the conversation he than stated their are none. So I asked how could he possibly know what was said from the representative without a recorded conversation which the representatives told me was being recorded.
So now my girlfriend is out of $773.80 of her hard earned money because of tactics used by this company. All I want is her money returned back to her account but I dont know where to begin to fight this. Asset Acceptance supervisor pretty much acted like We won you lost get over it bye!
Help me!

Posts: 4009
Credits: 55989.6

Sub: #1 Hi DMVinny Welcome to the forums. It is clearly evident that
Mon, 08/01/2005 - 16:06

Hi DMVinny

Welcome to the forums. It is clearly evident that the Asset Acceptance has withdrawn the money from your girlfriend's account without authorizing them for this purpose. Also, if it is your debt account, then the money has to be taken from your account and not your girlfriend's account.

They need to inform you about each and every step before they commit any action. Clearly, it is a violation of the law and you should take legal help of your attorney.
You should file a case against Asset Acceptance and the bank who have let the money go into their account without informing you.



Sub: #2 is asset acceptance llc scam company?
Mon, 08/08/2005 - 16:52

Hey DMVinny,
Is this even a real company or are the scammers?? I got a collection notice from them that I refused to pay because I was completely unaware I owed this. I havent heard back from them although this debt does show up on my credit score. Luckily its not enough to hurt it. But i was wondering if this was a real collection agency or if it is an asset acceptance scam? Anyone know? Thanks.

Debt Samaritan
Posts: 2034
Credits: 42636.2

Sub: #3 Sugarzee - Asset Acceptance LLC collection agency is mostly invo
Mon, 08/08/2005 - 17:00

Sugarzee - Asset Acceptance LLC collection agency is mostly involved in unfair practices while recovering the debts from the consumers.
Since it is appearing in your credit report, please obtain a credit report from the other two bureaus also and confirm this entry. You can dispute with the credit bureau reporting this entry. They will conduct an investigation and inform you after the change is done with a free copy of your credit report.
If proper steps have not been taken right now regarding the removal of this entry, it will hurt your credit file in the long run. Hope that you will do the needful for retaining your credit ratings.


Sub: #4 Asset Acceptance fraud account
Tue, 08/23/2005 - 11:12

I am cuurently in a dispute with this collection agency myself because they purchased a fraud account from Ameritech and slapped my name on it for the third time. I filled out a fraud affidavit in 2002 and this debt was wiped from my credit report, and now it is there again. I even have a letter from Ameritech stating that they concluded this was not my debt and they apologize for any inconvenience. When I called Asset Acceptance they want to get an attitude and speak to me like I don't want to pay this debt! Damn right I am not paying, hell it's not mine!

Posts: 4009
Credits: 55989.6

Sub: #5 Hi Micky Welcome to the debt consolidation Care forums. You s
Tue, 08/23/2005 - 11:58

Hi Micky

Welcome to the debt consolidation Care forums. You should write a letter to Asset Acceptance explaining this matter along with the photocopy of the letter from your creditors.

Once, a negative information is removed from your credit report, it cannot be put back again. Since the collection agency is trying to put the information back again, you should deal with it strongly and take legal help if required.



Sub: #6 Asset Acceptance LLC
Sat, 08/27/2005 - 09:54

I am writing because I have never received a letter or bill or anything from asset acceptance llc but a debt from them appeard on my credit report. I would like to request validation of the debt but from what I am reading it appears it would be a wasted effort. I believe it is an old bill from SBC and have no problems paying it but I want to make sure if I send them the money that it is resolves the debt. Any suggestions. I have never received a bill or statement so I have no account number or anything


Sub: #7 Asset Acceptance LLC
Fri, 09/02/2005 - 06:55

Is anyone going to respond with some advice on how to settle this. I never received anything from this company, how do I dispute it if I have nothing from them, just a black mark on my credit report.

Posts: 4009
Credits: 55989.6

Sub: #8 Hi Wtf, Welcome to the forums. I understand that you are not
Fri, 09/02/2005 - 11:50

Hi Wtf,

Welcome to the forums. I understand that you are not aware of the information that is appearing in your credit report. Since negative information appearing in your credit file can hurt you file in the long run.

You can compare your report with the other two bureaus and dispute with the one that is highlighting the entry requesting verification. The credit bureau will conduct verification with the information providers and update your file if your dispute is found to be legitimate.

You can also dispute with the creditors asking for verification and get the negative information removed from your credit file if it has been wrongly placed.

Make sure that you do all your correspondence in writing so that you can track it later. Send your letter through certified mail with return receipt requested.



Sub: #9 wtf
Fri, 09/09/2005 - 15:41

dear wtf, i have spent the last few months clearing up my husbands credit and the rest of mine. if it is SBC you can pay sbc directly then you feel safer also dispute the asset acceptance on your credit report as paid in full, they will find it paid and correct your file. easy as 1,2,3. :) hope this helps


Sub: #10 A letter from asset acceptanace LLC
Sat, 09/17/2005 - 16:08

After receiving a letter from this company today, saying I owed a company that they bought almost $2500.00. I decided to research the company and ended up here on your sight... I have no idea who this company is or how they got my name... they say they bought a company named fingerhut, I have never heard of them. After calling fingerhut, they determined that I did not have an account with them. I called this company back and asked for proof.. a name and shipping address... I told them somebody must be useing my name .... and they told me... Thats your problem... we don't supply proof, but we will supply the credit bureau with a report if you do not pay this debt... I have no idea how to handle this...

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