I mentioned this account a few days ago, but got too distracted by Mycroft's "sermon of the day" and "just call them and be nice" routine... =) Anyhow, I know not to call them, but still a little unsure of how to proceed since they've never contacted me, never ever. Here's what's on EQ: Company Name: Asset Acceptance Account Number: WFNNB EXP-438 Whose Acct: I Months Reviewed: 3 DOLA: 12/96 High Credit $678 Balance: $690 Past Due: $690 Status: O Date Reported: 04/02 Comments: Customer has now located consumer I've disputed this with all 3 CRAs (no response yet) & read posts about Asset and I was all set to send a validation letter. But, what's tripping me up is the fact that they've never contacted me - not by phone, mail, pony expres, nothing. They've had the account since 12/01 so they've had plenty of time. I guess they can do this - ruin my credit with a collection yet not make any attempt to actually collect? I've read FDCPA and it makes several statements about what happens AFTER INITIAL CONTACT by CA, but haven't seen or heard anything about what happens when the CA never makes initial contact. Do I just go ahead and send a letter requesting validation? Or... do I just wait until December when it should fall off (really want it off before that). Sorry to be sooooooo long-winded, but on this one, I'm stuck!!!
The first thing you do it lock that credit report in a safe place because asset is famous for reaging accounts. I talked to a michigan attorney the other day and he files reaging suits against them on a near daily basis. They have also been blasted in federal court over this. Before you send anything what state are you in? If the rest of your credit is clean then validation would not be a bad start. However, if it is already messed up then waking the beast, and an illegal scummy beast they are, is not a thing I would do and just wait it out.
I'm in Oklahoma, I don't know what the SOL is here. My report is NOT great shape, but getting better. I have 4 positive accounts on EQ & TU, 3 on EX, but also about 3 charge off, 3 paid collections, and 1 30 day late on each. I've got a mortage, but they don't report to any CRAs. One of the main reasons I'm wanting to get this off is it seems to be one of the top neg factors bringing down my FICO (631), because, although the account is old, apparently it matters that it was a recently assigned collection (the OC is not on any of my CRs). But, would it be better to work on the other derogs, and just and let a sleeping dog lie? Since they haven't reported since 4/02, it looks like they forgot I exist - although my disputing w/ CRAs will probably change that...
First, deciding whether to let sleeping dogs lie will depend upon the SOL, for Okla. Try: community-2.webtv.net/Y-Chat/WhyChatsCredit/ WhyChat has links, by state, that will help you.IMO, you need to "know where you're at" before deciding where to go. Good luck.
STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 3 Written Contract: 5 Domestic Judgment: 5 renewable Foreign Judgment: 3 You are in a tiny SOL state. Credit cards are open accounts just for your information. Look how tiny those judgement SOLS are LOL. My state has a 21 year sol that is renewable. ewwww.
Be careful how you joke about your State's SOL-- It just SEEMS like 21 years (renewable) even though it is only 4, because NO ONE seems to be able to read the printed statutes for Oh. (except me) LOL!
I also have an account with Asset Acceptance. Its a credit card, DOL activity is 11/98, they reported it last on 3/2003, I live in South Carolina. I disputed it with the CRAs in Jan. 2003 as "Not mine" and they all came back verified. I started the Validation process on 30 Dec 2002 w/ a 30 day validation letter, I got NO response. On Feb 1st 2003 I sent a 2nd Validation also No response. Both where sent via Fax I saved the transaction reports. On the 2nd Validstion letter I sent it through CRRR also, guess what? I never got a Delivery card back. My question is the account is pasted SOL and I dont think AAC can Validate, what should be my next step? I have and Intent to Sue letter, how do you think they will respond to that? I'm not sure how the actually go through with the lawsuit can anyone help? thanks, Lucas
Re: Re: HELP!! w/ Asset Acceptance Lucas, I am very new to this board and have a very similar situation with Asset Acceptance. How did this turn out for U? I have sent validation request and still have not received my green card back??!! Do you have the fax # still?
