Asset Accept update -LKH, your view

They've obviously received some sort of communication from one of the agencies you sent complaints to. It looks like they are trying to cover their rears. Unless you have received something from someone you sent a complaint to stating it is being resovled, then I would continue as if nothing has changed.

 

I would dispute it myself. Now may actually be the best time, if, they are a little on the nervous side, they may not verify it.

 

No problemo. Good luck.

 

Mindcrime, plus if you dispute it and it comes back verified, that's more violations for you. They've done it twice to me (it was deleted off TU, but I think that's just because TU doesn't really do verifications LOL). I sent the estoppel on the 6th, got my green card and am just waiting to send the intent to sue with my small claims form. Keep us updated!

 

Laurie,

Are you suggesting that it is a violation of the FDCPA for a CA to varify to the CRA while we are still within the 30 day validation period? I know the law says they cannot "report" but I think they CAN varify to the CRA that their existing data is correct.

If so, what would stop us from sending a demand for validation to the CA and then the following day send a request for varification to the CRA, knowing that the CRA CANNOT varify from the CA because the CA is "restricted" by the 30 day validation period. So CRA has no choice but to remove?

That really wouldn't make sense and it would be successfully argued that this was not congreeses intent. The CRA would have NO CHOICE but to delete or the CA is "entrapped" into a FDCPA violation.

Please advise, ANYBODY?

 

The FDCPA says that if validation is requested within the initial 30 day period, all collection activity must cease until validation is provided. FTC opinion letters have stated that reporting to the cra's during the time validation is requested and provided, is continued collection activity.

http://www.ftc.gov/os/statutes/fdcpa/letters/cass.htm

 

Have you received Asset's response to your compliants?

I got one from BBB and it said they would delete if it wasn't verified. I waited 30 days (I knew they didn't have the validation) and then I faxed the intent to sue with a copy of the Wollman opinion letter and the response that they sent to BBB saying they would delete. They deleted within 72 hours.

I took my time and built up a long paper trail. Because it was in the SOL and it was for a large amt. over $4k. I really wanted to show I had tried everything, and I had. I really didn't want to go to court but I was prepared if I had to.

Don't be surprised if they verify again. They verified 3 times after they received validation and the estoppel. I then faxed the letter and the UDF to the CRAs and that's what got it off.

 

Howdy Friends,

I'm dealing with AA myself. I have sent a total of 5 letters to them since 3/5 asking for validation. They have sent me the following:

1) Computer Printout
2) Copy of original application from 1994
3) Proof of their authority to collect this debt

I'm still waiting on statements showing that the amount of the debt is valid...they have yet to provide this documentation. My position is that while they have provided an imaged application (which is not a good thing), that only proves that this account once existed, or that 8 years ago I had applied for an account. It doesn't support the amount of the debt, which I see as being one of the bigger issues.

So, I continue to send letters. I have been working directly with Nathaniel F. Bradley out of Warren, MI on this.

First, they verified with all 3 CRAs after I had sent a validation letter. They also verified the status of the account as "unable to locate consumer...". The account was never noted as disputed, until I escalated the issue to Mr. Bradley, who notified 2 of the 3 CRAS that it was in dispute. EQ still doesn't show this.

EQ and EX verified during dispute #2, however, I'm still waiting on the TU results. They expire on 5/19, which actually means 5/17 (Friday). I'm crossing my fingers (okay, double-crossing) that it's deleted. As you all probably know, I'm in the process of trying to get an auto loan and the CU I'm working with pulls TU.

I'm at my wits end with these morons, and I will file AFTER this auto loan stuff blows over and I don't have to worry so much about further damaging my reports (I feel like I'm walking on eggshells).

Good luck Mindcrime with your stuggles with AA and let us all know what the end result is. I'll surely be interested to hear.

 

I too have a collection reporting from Asset Acceptance. I don't undersand why they note my account status as: UNABLE TO LOCATE CONSUMER. What does this mean and how does it affect our credit report?

Thanks

 

What do you think of mine? On EQ it says "unknown dispute-resolution pending" and has said that for I don't know how long. On Exp. it says "no status". Do you think these are neutral or still derog.? I hate this stupid company.....

 

Re: Asset Accept update

Is funny, seems like when ever anyone disoute w/ them or CRA, they list NO STATUS..same with mine..even I havent send any val to them,,,

 

Mindcrime, I was thinking it must be neutral because my FICO score was the same when it was in dispute and after it came back verified. They don't even list any amount or anything. Hopefully they'll get the idea once they get the intent to sue and just be gone forever.

 

O n e M o r e D a y . . . . . . . . . . .

AA has one more day to verify with TU. I have been checking my TU incessantly hoping they delete it early.

If my memory serves me correctly, when day 30 of the dispute lands on a weekend, then they close the dispute the Friday before, right? I'm hoping someone can verify this.

As soon as I get the results from this dispute, I'm printing/faxing my TU to the CU for the auto loan. My score at present is 577...I'm hoping this will push it over the 600 mark if it's deleted. My Eloan score is 603 at the moment.