• Report: #384240

Complaint Review: Asset Acceptance

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  • Submitted: Thu, October 23, 2008
  • Updated: Fri, October 24, 2008

  • Reported By:Norristown Pennsylvania
Asset Acceptance
P O Box 2036 Warren, Michigan U.S.A.
  • Phone: 800-545-9931
  • Web:
  • Category: Lawyers

Asset Acceptance Stolen Identity 4 years ago. Asset Acceptance is taking me to arbitration!! Warren Michigan

*Consumer Suggestion: ARBITRATION IS BS

*Consumer Suggestion: ARBITRATION IS A SCAM - DESIGNED TO STEAL YOUR MONEY ONLY

*Consumer Suggestion: Carolyn, get a different "lawyer"...the one you spoke to is an IDIOT!!

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I am absolutely at my wits end! My identity was stolen at least 4 years ago. I filed all of the necessary fraud forms. Now I receive a notice of arbitration from Asset Acceptance. Apparently they bought the debt written off by MBNA and now they are pursuing collection. I advised them in writing that it was a fraud write-off but they said that I have to go to arbitration. Of course the arbitration company is their company. I contacted an attorney and he said that if they hold this arbitration hearing and I am found owing, which is a probability since AA owns the company, then they can get a judgement against me. Then they could take my car or other possession. Having a judgement against me will also ruin my credit. Which is another matter since now AA has reported this debt to the credit agencies. The lawyer wants $4000.00 to take my case. Why should I have to pay $4000.00 to prove them wrong! My husband is retired and we don't have that kind of money! Can someone give me some solid advice?

Carolyn xxxxxxxx
Norristown, Pennsylvania
U.S.A.

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This report was posted on Ripoff Report on 10/23/2008 04:02 PM and is a permanent record located here: http://www.ripoffreport.com/r/Asset-Acceptance/Warren-Michigan-48090/Asset-Acceptance-Stolen-Identity-4-years-ago-Asset-Acceptance-is-taking-me-to-arbitration-384240. 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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Updates & Rebuttals

#1 Consumer Suggestion

ARBITRATION IS BS

AUTHOR: Laurie - (U.S.A.)

GO TO www.budhibbs.com IMMEDIATELY
you can also find NACA attorney list there as well Many will work on contingency

Bud has a lot of information on how and why Arbitration only benefits the collection agencies - not the consumer and what you need to do to help yourself
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#2 Consumer Suggestion

ARBITRATION IS A SCAM - DESIGNED TO STEAL YOUR MONEY ONLY

AUTHOR: Laurie - (U.S.A.)

go to www.budhibbs.com and read what Bud has to say -
HE WANTS TO HEAR FROM YOU!!!!

Read the information he has posted on Arbitration and contact him about your situation.
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#3 Consumer Suggestion

Carolyn, get a different "lawyer"...the one you spoke to is an IDIOT!!

AUTHOR: Steve - (U.S.A.)

Carolyn,

First, and most important. STAY OFF THE PHONE!!
Second, DO NOT respond to ANY arbitration agreement!
Third, use ONLY an NACA attorney, who specializes in debt collections matters.

Most attorneys are *ABSOLUTELY clueless* in collections matters, and will cost you money for no reason.

Go to the FTC website and print ot the FDCPA. This is the FEDERAL LAW that governs THIRD PARTY DEBT COLLECTORS. And, each state has additional laws regarding collections.

Remember, STAY OFF THE PHONE!! I cannot stress this enough. NEVER call, or speak to any debt collector or debt attorney on the phone! This will NEVER produce positive results for you, and will not protect your rights if you end up in court.

Asset Acceptance are LOWLIFE and cannot be trusted. AND, they CANNOT force you to go to arbitration. Unless you respond to the arbitration request and agree to arbitration, the arbitration process is powerless against you, and CANNOT get a judgement against you [legally].

Arbitration is only the process to handle disputes on an account regarding the terms and conditions. It is NOT a legal tool for enforcing collections.

Been there. Done that. I have told these creeps to shove thier arbitration where the sun doesn't shine.



***OK***Let's get started***

*Note: ALL communications MUST be in writing, and should be sent by CERTIFIED MAIL, return reciept requested. be sure to put the certified # at the top of the letter itself, and keep a copy for your records. This procedure is VERY important as it proves EXACTLY what you sent.
*And, most important, NEVER sign anything you send to a bottomfeeder, as your signature could end up on a contract.

1. By the means above, send a "DEBT VALIDATION REQUEST" and DISPUTE as per the provisions of the FDCPA.

In this letter, CLEARLY dispute the debt.

Then, DEMAND to see whatever evidence they have to substantiate the alleged debt. DEMAND to see something with your signature on it and a full account history with a full itemization of charges.

They would need this in court to sue you and win, and they know it.

NOW, with this done, ALL collections activity must cease until the requested validation is provided. They are LEGALLY done collecting at this point until they prove thier case to you for collections.

2. By the means above, send your DISPUTED ITEM letter to each affected credit bureau.

Keep it short and sweet. Simply tell them the debt is NOT yours, and DEMAND proof of the validity of the reported item under the provisions of the FCRA.

DEMAND to see whatever communications transpire in this validation process, as this is your legal right.

Also inform them that failure to comply 100% with your request WILL result in a civil lawsuit for damages.

Inform them that you will expect results within 30 days from the reciept of your letter. On the 31st day you file the lawsuit.

...

You have to be very bold, and very firm with both collection agencies and credit bureaus, as they will trample your rights if you don't stick it to them. You MUST be aggressive with them.

Document everything. Then sue when they fail to respond.
Follow through.

Good luck!!



>>>
Submitted: 10/23/2008 4:02:49 PM
Modified: 10/23/2008 4:03:00 PM
Carolyn baxter
Norristown, Pennsylvania


I am absolutely at my wits end! My identity was stolen at least 4 years ago. I filed all of the necessary fraud forms. Now I receive a notice of arbitration from Asset Acceptance. Apparently they bought the debt written off by MBNA and now they are pursuing collection. I advised them in writing that it was a fraud write-off but they said that I have to go to arbitration. Of course the arbitration company is their company. I contacted an attorney and he said that if they hold this arbitration hearing and I am found owing, which is a probability since AA owns the company, then they can get a judgement against me. Then they could take my car or other possession. Having a judgement against me will also ruin my credit. Which is another matter since now AA has reported this debt to the credit agencies. The lawyer wants $4000.00 to take my case. Why should I have to pay $4000.00 to prove them wrong! My husband is retired and we don't have that kind of money! Can someone give me some solid advice?

Carolyn xxxxxxxx
Norristown, Pennsylvania
U.S.A.
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