• Report: #1036194

Complaint Review: Asset Acceptance LLC

  • Submitted: Tue, March 19, 2013
  • Updated: Tue, March 19, 2013

  • Reported By: I Like Lampshades — Nashville Tennessee
Asset Acceptance LLC
Internet United States of America

Asset Acceptance LLC Fulton Friedman & Gullace, LLP Being sued by FF&G for debt outside Statute of Limitations. Internet

*Consumer Comment: These idiots are scum

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I am being sued by Asset Acceptance, represented locally here in Nashville by Fulton, Friedman, & Gullace.  The suit is for a debt that they're claiming from Chase bank, for around $2k.

At the first court date (December 2012), I spoke with their attorney and informed him that not only was I not aware of any such debt, but also that if it did exist, it's outside the statue of limitations, as I haven't dealt with any credit card company (except for 1, a different one) since 2006.  

The attorney said that if it's outside the SOL they'd just drop it, and that he'd look into it and follow up with me.  The case was reset to March 21, 2013 (2 days from now) and I never heard anything further about it (they never followed up).  I also just called the court, and they confirmed that nothing has changed, they have no new filings since that first court date, and the case has not been dropped.

So, as it stands, I'm going back to court again in two days and it seems I'm right back in the exact same position I started in.  I'm trying to get the specific attorney I dealt with to call me back. After my last court date, I attempted to follow the advice given in this thread: http://www.ripoffreport.com/collection-agency-s/asset-acceptance/asset-acceptance-taking-me-to-24x77.htm

Specifically, I tried to follow the advice given by Tom- Marquez (USA) regarding filing a "Motion for a more definite statement" or asking for a "Bill of Particulars", but the clerk looked at me like I was crazy, and had no idea what I was asking for. 

So, I'm not sure what my next step should be.  I know that I want to fight their claim, and go to trial if necessary, and I'm sure that involves formally denying their claim and possibly a motion or two, but I'm not sure if that needs to happen in court before a judge, or in writing submitted to the clerk, etc.

Any help would be greatly appreciated.  Thanks!

This report was posted on Ripoff Report on 03/19/2013 03:17 PM and is a permanent record located here: http://www.ripoffreport.com/r/Asset-Acceptance-LLC/internet/Asset-Acceptance-LLC-Fulton-Friedman-Gullace-LLP-Being-sued-by-FFG-for-debt-outside-St-1036194. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

These idiots are scum

AUTHOR: Stacey - ()

Find a Consumer Lawyer asap and most likely they will help you countersue for you or at least get a dismissal.  I am not an Attorney but I have had to sue a third party debt collection (which is what these morons are) and won (they never paid the judgement).  Good luck to you.

For Release: 01/30/2012

Under FTC Settlement, Debt Buyer Agrees to Pay $2.5 Million for Alleged Consumer Deception Firm Also Will Notify Consumers with "Time-Barred" Debt That It Will Not Sue to Collect

One of the nation's largest consumer debt buyers has agreed to pay a $2.5 million civil penalty to settle Federal Trade Commission charges that it made a range of misrepresentations when trying to collect old debts. In addition, the company, Asset Acceptance, LLC, has agreed to tell consumers whose debt may be too old to be legally enforceable that it will not sue to collect on that debt.

The proposed settlement order resolving the agency's charges also requires that when consumers dispute the accuracy of a debt, Asset Acceptance must investigate the dispute, ensuring that it has a reasonable basis for its claims the consumer owes the debt, before continuing its collection efforts. The proposed order also bars the company from placing debt on consumers' credit reports without notifying them about the negative report. The U.S. Department of Justice filed the proposed settlement order this week at the FTC's request.

Most consumers do not know their legal rights with respect to collection of old debts past the statute of limitations, said David Vladeck, Director of the FTCs Bureau of Consumer Protection. When a collector tells a consumer that she
owes money and demands payment, it may create the misleading impression that the collector can sue the consumer in court to collect that debt.  This FTC settlement signals that, even with old debt, the prohibitions against deceptive and unfair collection methods apply.

The FTC's action alleging that Asset Acceptance violated the FTC Act, the Fair Debt Collection Practices Act, and the Fair Credit Reporting Act is part of the FTC's continuing efforts to protect consumers adversely affected by the struggling economy. The agency today also issued a new publication for consumers, "Time-Barred Debts: Understanding Your Rights When It Comes to Old Debts".

Michigan-based Asset Acceptance buys unpaid debts from credit originators such as credit card companies, health clubs, and telecommunications and utilities providers, as well as other debt buyers, and attempts to collect them.

Asset Acceptance has purchased tens of millions of consumer accounts for pennies on the dollar. It targets accounts that other collectors have pursued and are more than a year past due, and in some cases attempts to collect debt that is
more than 10 years old. Some of this debt is too old to be legally enforceable state statutes of limitations cut off the right to sue to collect the debt after some period of time has passed, depending on the state and the type of debt. And many consumers do not know that making a partial payment of a debt may reset the state law's clock on the collector's ability to take legal action.

The FTC's nine-count complaint charged Asset Acceptance with:

misrepresenting that consumers owed a debt when it could not substantiate its representations;

failing to disclose that debts are too old to be legally enforceable or that a partial payment would extend the time a debt could be legally enforceable;

providing information to credit reporting agencies, while knowing or having reasonable cause to believe that the information was inaccurate;

failing to notify consumers in writing that it provided negative information to a credit reporting agency;

failing to conduct a reasonable investigation when it received a notice of dispute from a credit reporting agency;

repeatedly calling third parties who do not owe a debt;

informing third parties about a debt;

using illegal debt-collection practices, including misrepresenting the character, amount, or legal status of a debt; providing inaccurate information to credit reporting agencies; and making false representations to collect a debt; and

failing to provide verification of the debt and continuing to attempt to collect a debt when it is disputed by the consumer.

The proposed settlement requires that when Asset Acceptance knows or should know debt may not be legally enforceable under state law often referred to as "time-barred" debt it must disclose to the consumer that it will not sue on
the debt and, if true, that it may report nonpayment to the credit reporting agencies. Once it has made that disclosure, it may not sue the consumer, even if the consumer makes a partial payment that otherwise would make the debt no longer time-barred.

The order also prohibits the company from:

Making any material misrepresentation to consumers and making any representation that a consumer owes a particular debt, or as to the amount of the debt, unless it has a reasonable basis for the representation. To ensure it has such a basis, the order requires Asset Acceptance to investigate consumer disputes before continuing collection efforts;

"Parking" or placing debt on a consumer's credit report when it has failed to notify the consumer in writing about the negative report, and;

Violating the Fair Credit Reporting Act and the Fair Debt Collection Practices Act, in the ways alleged in the complaint.

The FTC has issued a new publication to help consumers understand how debt collectors attempt to collect old debts, along with their rights in these cases.

"Time-Barred Debts: Understanding Your Rights When It Comes to Old Debts" provides information on when a debt is too old for a collector to sue, what consumers should do if a debt collector calls about a time-barred debt, and whether a
consumer should pay a debt that's considered time-barred. It also provides advice on what consumers should do if they are sued for a time-barred debt, including defending themselves in court and asserting their rights under the Fair Debt Collection Practices Act. Finally, it has links to other FTC publications and videos about dealing with debt.

The Commission vote authorizing the staff to refer the complaint to the Department of Justice was 4-1, and the vote to approve the proposed consent decree, was 3-1, with Commissioner J. Thomas Rosch voting no for both. The DOJ filed the complaint and proposed consent decree on behalf of the Commission in U.S. District Court for the Middle District of Florida today. The proposed consent decree is subject to court approval.

NOTE: The Commission authorizes the filing of a complaint when it has "reason to believe" that the law has been or is being violated, and it appears to the Commission that a proceeding is in the public interest. The complaint is not a finding or ruling that the defendant has actually violated the law. This consent decree is for settlement purposes only and does not
constitute an admission by the defendant of a law violation. Consent decrees have the force of law when signed by the District Court judge.

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC's online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC's
website provides free information on a variety of consumer topics. Like the FTC on Facebook and follow us on Twitter.


Mitchell J. Katz,

Office of Public Affairs



J. Reilly Dolan,

Bureau of Consumer



Tracy S. Thorleifson,

FTC Northwest


206-220-4481(FTC File No.


(8:12-cv-182-T-27EAJ.  Judge Whittemore)

(Asset Acceptance.final)
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