Has anybody had any dealings with Asset Acceptance Corp, out of Michigan. Prepping a validation letter to them for a cc debt they bought over 6 years old. I am going to work and clean up the wifes credit that has charge offs mostly over 4-6 years old. Anyone??
Never mind guys, I just did a search with their company name and they seem to have plenty of history around here, LOL
Find out what the SOL is for your state (and state contract was signed in, if different) and if the SOL expired, just tell them to go away. Debts that are 4-6 years old are easier to work with, i.e. they probably won't be able to validate, more willing to accept payment for deletion (if unpaid)...
Mindcrime I live in NV ( 4 years SOL) and it was signed in TX (4 years SOL). The last activity showing on the account in CRA is 11/95. I sent them a validation today ( My first time trying this. ) I really just wanted to see what I get back. Actually the letter they sent "Welcomed me to their family" LOL They know the statutes up, they just want to see how much they might get. NONE !!!
#1. Never lose your report which shows the DLA as 11/95. They may attempt to get the debt re-aged (illegal, BTW) and your report is all the proof you need to stop them in their tracks. Okay, so the debt is 6yrs & 3mnths old. You only have 9 months to go if you can't get the CRA to delete beforehand. They probably can't validate a debt that old. And as you already know (and I'm sure they do to) they can't collect on you for this debt. You're in good shape. Update me when they reply. BTW, what part of NV do you live in? I'm outside of Las Vegas.
I knew about keeping the credit report, never know when DLA may change. I am new to this, I got their letter Thursday, Jan 24th, 2002 and have learned as much as I have about validations, SOL's , estoppals, etc in the last four days. Now I am not only going to fight them but all the others taht are on my report over 6 years old. I live in North Las Vegas, about 5 miles from the strip, by the way.
Good luck with your journey. If all or most of your derogs on your reports are 6+ years old, you're in a very good position for deletions, validations, etc. keep reading the board, you'll get some really good suggestions, and ideas. I'm a couple of miles from the new Green Valley Ranch Station Casino (in Henderson).
mindcrime, Thanks! The more I read the more I pretty much know I can clear these out. Just going to take some time and writing. By the way, just in case I need it, do you know what Court handles lawsuit claims of this type in Clark County. I have only been here a couple of years and this law suit stuff is new to me. Thanks for the encouragement though.
SOL is the amount of years they can legally take you to Court and hope to get a Judgement from you if you show up. 7 years is how long bad credit, other than BK's stay on your credit report.
You're welcome dakota. Sounds like you've got a good understanding already about how the process works. I've only been in Vegas a couple years myself. I did call the justice court once (in Henderson) which also handles small claims. Clerk wasn't that helpful though, and I haven't yet gotten to the point just yet where I need to be sueing a CA or CRA. Lizardking is the one to ask about lawsuits, he knows exactly what he's talking about.
Why do they permit anything to report over the SOL.? When the sol expires it's a dead issue. Why are they allowed to list a dead horse?
