I need a little advice or information for my clarification. Just pulled my TU report 11/5/03 and I noticed a hard inquiry from none other than Asset Acceptance LLC dated just a couple weeks prior. The notation reads Permissable Purpose = Collection. Now the alleged collection could only stem from an account whose date of last activity was in 1996. I live in Oregon and the SOL is 6 years here. Asset Acceptance claims to have bought the old debt and now feels entitled to pursue collection activity on it for seven more years. Is this allowed? If so who the heck is writing these laws? Any information would be appreciated. I tried getting TU to delete the inquiry but would have had better luck beating my head against a brick wall. Thanks.
They may feel entitled to continue collection activity, but the judge won't think so. Let them sue you and use SOL for a defense. Or sue them for a non-PP inquiry and let them tell the judge that they think they can disregard the laws.
Well they haven't threatened to sue me because I have an iron-clad affirmative defense. They are time-barred. The annoying thing about it is the hard inquiry. And the guy I talked to, Steve "Summer's Eve" Camacho seemed to think it was perfectly okay to pull these hard inquiries and to keep pulling them. I need to have some snappy verbiage to send them a drop-dead letter. Mainly I just need to know where I stand in regards to the law or opinion letters, etc. Thanks for any info.
Since they're time barred and can't do anything to you, why not just send them and Intent to Sue? Say you're suing for a no permissible purpose inquiry, and if they delete it you won't sue. Otherwise, see them in court.
Maybe you should call Steve back and ask him why he thinks he can pursue collection when it's past SOL. Make him squirm.
As far as I understand they can do inquiries forever... even after the SOL has expired. What you do is: 1. Send 30 day validation letter 2. If no validation, send 15 day estoppel letter. 3. 72 hour ITS. 4. Sue for FDCPA and FCRA for non-pp inquiry. You can get them for an FDCPA violation in addition to the FCRA. Whenever a CA or any creditor pulls an app, they must certify to the CRA the purpose of the app. There is a clause in the FDCPA regarding transmission of false credit info, hence the sending of false certification, therefore you can nail them for that too.
It is important to report this agency to the FTC, the more reports the better , you can do that online : http://tinyurl.com/gpjc the more reports , the better !!
What I don't understand is how they can do inquirires forever. Here's my thinking. Negative information can only be reported on your credit report for seven years from the date of last activity. They can no longer show up on my credit report as a tradeline/collection account due to the 7 year rule. Pulling a hard inquiry and having the notation say "Permissible Purpose - Collection" is a negative action. They should be barred by the 7 year rule in reporting or having included on my credit report any negative information. Not to mention don't they need a legitimate reason for pulling a report in the first place. What purpose does it serve to pull my credit report? They have my name, my address, and know how to contact me. They don't need any other information to pursue any of the collection activities that they are allowed to conduct after the SOL has passed. I'm so p!ssed off right now.
Redress, you have to make asset prove to you that hey have a valid account thru validation. If asset does not have a valid account, no pp for collections purpose exhists.
