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Asset Acceptance LLC

March 14, 2012 by  
Filed under Blogs, Collection Agencies

by: Michael Creditfirm.

Asset Acceptance
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Asset Acceptance collections


Asset Acceptance, LLC. (AA) is one of the biggest collection agencies in the United States.  Asset Acceptance works under the umbrella of Asset Acceptance Capital Corporation (AACC) which was founded in 1962.  The company specializes in the purchasing defaulted consumer debt and settling the accounts for the original creditor.

AACC Contact Information

Phone number: (800) 545-9931
Asset Acceptance Capital Corp.
P.O. Box 2036
Warren, MI 48090-2036

How AACC buys debt

Asset Acceptance purchases this debt for a significant discount, sometimes as little as 2% of the original amount owed.  Once the debt is purchased, Asset Acceptance proceeds to report the new collection account to the 3 major Credit Reporting Agencies (Experian, Equifax, and TransUnion), and contacts the consumer in an attempt to settle the account.

AACC Complaints

Asset Acceptance has been known to use predatory business practices to collect on their debt and has had 769 complaints filed through the BBB in the last 36 months.  The FTC has also recently levied a $2.5 million dollar fine against Asset Acceptance Capital Corporation for “Abusive Practices”.  The company has been known to Re-Age Debt, report incorrect balances, and continue collections after the expiration of the statute of limitations.

Suzanne Martindale, staff attorney for Consumers Union, a non-profit organization based in New York and the publisher of “Consumer Reports” magazine says, “Some debt collectors unfairly target consumers even when the statute of limitations has passed or when they don’t have the proper documentation to prove the debt is owed.”

AACC Solution

Credit Firm.net has helped thousands of their clients delete Asset Acceptance collection accounts from their credit reports as well as stopping the abusive calls.  If you have been contacted by Asset Acceptance or have an Asset Acceptance Collection Account reporting on your credit report, contact Credit Firm.net to improve your credit.

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8 Comments on "Asset Acceptance LLC"

  1. Maki on Wed, 21st Mar 2012 6:17 PM 

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  2. Brandi on Thu, 22nd Mar 2012 8:04 AM 

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  3. Leila Rochlitz on Tue, 10th Apr 2012 12:50 AM 

    I’d have to check with you here. Which is not something
    I usually do! I enjoy reading a post that will make people
    think. Also, thanks for allowing me to comment!

  4. Merrill Kamaunu on Fri, 13th Apr 2012 8:17 PM 

    Good day, dear sir, great site!

  5. Anna on Sat, 28th Apr 2012 12:14 AM 

    Some genuinely fantastic info , Gladiola I discovered this.
    “I know God will not give me anything I can’t handle.
    I just wish that He didn’t trust me so much.” by Mother Theresa.

  6. Grace on Fri, 8th Jun 2012 1:47 PM 

    You might click on my profile and click on the naca
    link I have lsited (National Association of Consumer
    Advocates)Look for an attorney in your area that
    works in the consumer credit field.Many lawyers give
    free first consults, be sure to ask about that when
    you call to set up an appointment.If you are past the
    collecting SOL (6 years in NY) you might file a
    counterclaim for them filing on a time barred debt.
    You might also be able to counter sue under the FCRA
    if the collector is reporting incorrectly and you can
    prove that you have suffered damages because of their
    reporting denied credit, required to pay a higher
    interest rate, etc.NY also has their own version of a
    FCRA that you may be able to claim on.Take your credit
    reports and any other info (denial letters, etc) with
    you when you speak to an attorney.Under the FTC FDCPA,
    collectors must cease all collections (including suing)
    when verification/validation is requested within the
    first 30 days of the first contact from the collection
    agency.If it is requested outside of the first 30 days
    then collectors do not have to cease collections until
    they respond.NY has it’s own version of a FDCPA that may
    require a collector to cease collections when verification/
    validation is requested.Bring that point up if the lawyer
    does not mention it.Collectors must be licensed in NY to
    collect. Check and see if they are licensed.Call the New
    York City Deparment of Consumer AffairsLegal Department and
    ask.Take everything with you when you see the lawyer.Copies
    of your credit reports, if you disputed with the CRA’s then
    take copies of your disputes, copies of every letter the
    collector has sent you (never know, there may be a violation
    in the letter), if you’ve suffered damages because of the
    reporting then take whatever proof you have of that, if you
    filed complaints with any agency (BBB, AG, FTC) take copies
    of the complaints, etc., etc., etc.

  7. BRIAN on Mon, 13th Aug 2012 12:49 AM 

    Asset Acceptance are just a bunch of junk debt buying criminals.
    They blatantly report incorrect information in order to get you
    to pay even after the statute of limitations has passed.
    These guys are CRIMINALS!

  8. Chris Stark on Wed, 10th Oct 2012 12:20 PM 

    AAC is a terrible company. They stole money out of my bank account
    without my authorization. I can’t believe that companies like
    this are allowed to do business in this country.
    Arent there laws that are supposed to protect us from these animals?

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