SUBMITTED: Friday, August 15, 2008
POSTED: Friday, August 15, 2008
Hi,
As you know Asset Acceptance is a company that trains their employees to be con artists and attempt to take money from inocent people on old outdated debts.
Asset Acceptance buys old accounts for pennies on the dollar and attempt to collect in most cases over double of what the original debt amount was.
They add on super high interest from dates years ago that they say they purchased the debt.
That is Illegal what they attempt to do on charging interest for past years.
Consumers have legal rights protected by Federal Consumer Laws.
In a lot of cases the debts are actually outdated and cannot legally be collected on even though Asset Acceptance will attempt to collect those debts and make the consumer believe that if they do not pay that they will collect one way or the other.
Do research on the internet and you will find sites that have info on how many years back a debt can be collected on. Debts expire after a certain number of years and after that they cannot legally be collected.
Asset Acceptance will do whatever it takes to violate Consumer Protection Laws and most people not knowing their rights will actually pay Asset Acceptance because of the phone threats and letters they get stating they owe on the debt.
Summed up, Do research on the internet on Consumer Protection Laws and the dates on when a debt cannot be collected on.
The courts will take your side when you do your research and state that Asset Acceptance is trying to rip you off and violating consumer protection laws.
Do all communication with Asset Acceptance by mail, best way is certified mail so you have proof of mailing and also make copies of all letters you send them.
Do nothing by phone with Asset Acceptance
Do not give them any bank or checking account information as they will use that to take all your money to pay a debt off you may not even owe.
If you do end up having to pay them do it by Money Order and make a copy of the money order and keep the receipt for proof in the future.
Asset Acceptance is nothing but a rip off company ripping consumers off.
Write the Federal Trade Commission, Better Business Bureau, and the Attorney Generals office in your state asking them to make Asset Acceptance close their doors for good.
There are almost 300 complaints on ripoffreport just on Asset Acceptance. I am sure that is just a small percentage of the thousands and thousands of consumers that got rippped off or were attempted to be ripped off by Asset Acceptance.