I have two items on my credit report from what I assume is a collection agency called, "Asset Acceptance LLC." It appears Asset Acceptance is reporting that I owe almost $25K on two credit cards that I paid and closed around 4 years ago. Asset Acceptance's numbers are nonsense. I have no credit card debt and paid off all cards years ago. I have reviewed the FAQ, the links for "newbies," and a number of messages. But I am still a bit confused on the initial steps to take, in part because the FAQ is unclear to me regarding the first steps to take with a collection agency. Frankly, I'm not sure if I need to ask the CRA to "validate" first, or if my first letter should be to Asset Acceptance demanding validation and/or removal. If anyone can provide a brief response with the initial steps to take, I'd be much obliged. Also, is Asset Acceptance known to make these kinds of errors? I recall generally hearing derogatory information about them, but I have no specifics. Thank you.
1. Send a letter to AA demanding Validation of teh debt. In this letter you will also (a) dispute it and (b) notify them that they are not to contact you in any way except by mail. 2. 30 days later dispute the TL with teh CRA. 3. When the CRA notifies you that the TL was verified by teh creditor and remains, send AA a summons for $1000 for failing to report the account as disputed and another $1000 for reporting known false information to the CRA, a third $1000 for failing to get Validation from the OC and a 4th $1000 for continued collection activity without Validating. 4. That should get their attention. If it doesn't, wait the 30 days after service and get your Default Judgment. 5. Wait 30 days and repeat the process.
I agree with the above. Do your credit report account numbers agree with your records of this account? Do your credit reports show the accounts closed, $0 balance by the original creditors? Have you checked with the original creditors and verified that their records show the accounts closed with $0 balance? Either AA posted someone else's debts to your account, or the original creditors sold accounts you had paid off, or they improperly credited your payments. What records do you have or can you get to prove the accounts were paid in full and closed, and if the "debts" are within SOL and AA decides to file suit are you ready?
Re: First Steps w/ Collection Agenc Thank you for both responses, esp. the bullet points on the steps to take. That clears it up quite a bit and yes, am gathering the requisite documents to challenge AA. Thank you.
