I recv'd a letter from this company on 04/13/04. In a nutshell AA is offering me a 50% discount off my debt. It says that my current balance is $680.82 and they are offering $340.41 as a settlement. They are saying that they are sending this letter in an effort to liquidate as many files as possible, so they are making me this offer. If I should take this offer I will receive a paid Account letter and they will report appropriately the credit bureaus. This offer expires on 05/08/04. and of course I do not have the money to pay this. Here is the thing, I have not heard from this company in years. The last credit report I pulled as recent as last month stated that this company can not locate me. This was as of 03/05/04. Does the SOL freeze since they could not locate me? AA bought this debt from the OC FCNB/Speigel. I don't know when but the date of last activity for the OC is 02/99. this cc was allegedly opened on 12/98 and has since been charged off. I don't recall making any payments but it says I have 1 Time 30 days late; 1 time 60 days late and 3 times 90 days late. this means I have allegedly made five payments in a two month period? I think this debt is passed the SOL as I got this card in FL and sol for open accounts is four years there, which means that sol is up as of 10/2003? right. I now live in TX and sol here is 4 yrs as well. My question is this. Should I dispute this date or request validation from AA? Or what should I do.
Re: Settlement Offer /Asset Accepta Since you sound sure of the SOL dates, what's your worry? (lol) I mean there's nothing they can do to legally collect from you. If they were ignorant enough to take this to court for a judgment, you'd simply use SOL as your defense. Does this make sense?
Re: Settlement Offer /Asset Accepta just a question is AA american agencies if so they may be offering a settlement because they were just slammed by the FTC and I think they will be going out of business.
Re: Settlement Offer /Asset Accepta I was using AA as an abbrevation for Asset Acceptance. Sorry for any confusion this may have caused.
Re: Settlement Offer /Asset Accepta I dont think the SOL has anything to do if they cant find you. the SOL runs from the date of late payment or activity. I would presume you go by the state of resident where the contract was signed. Im sure others on here could go into more details as to the laws and codes but im pretty sure they can not pursue you for collections but dont you want this to be deleted off your report? that another matter in itself that why we all look for violations easier way to get the accts off.
Re: Settlement Offer /Asset Accepta The account is mine, however. I do not have an agreement with Asset Acceptance corp to pay them anything. Should I just wait it out until it falls off my credit or can I do something to make them delete it?
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Re: Settlement Offer /Asset Accepta Yes I would like this deleted off my report. What should i do? terrinel ===================== Validation Letter to CA CRRR. Rack up some violations on them and use them to force the CA to delete.
Re: Settlement Offer /Asset Accepta How much is this account hurting your score? I've been getting settlement offers for 3 years. The don't really seem to expire.
Re: Settlement Offer /Asset Accepta would Assett Acceptance be considered as a CA even though they bought from the OC?
Re: Settlement Offer /Asset Accepta Normally I would argue with Lbrown about the validaiton period being expired because they have been "collecting" for "years" as the poster suggested. BUT, this is an interesting case. If the courts have ruled the collection agency MERELY NEEDS TO SEND the validation rights notice, and the COURT ASSUMES it is received "shorty there after" as in the Mahon case.... Doesnt that fact that the collection agency has reported "cant find", take away this arguement???? In my mind, the effective validation period probably HAD ALREADY expired long ago. BUT FOR THEIR OWN COMMENT ABOUT NOT BEING ABLE TO LOCATE the consumer, the collection agency RE-SET the validation period themselves LOL The new 30 days starts from 04/13/04... READ THE NOTICE CAREFULLY. BECAUSE THIS IS the new INITIAL communication, they are required to include the validation rights notice contained in FDCPA 809. NOT JUST "this is an attempt to collect the debt" I can almost assure they did not, and they will probably continue to send collection notices after receipt of the validation request from the consumer WOW>..I agreed with Lbrown! LOL This is cool.. Yes, validation
Does the SOL freeze since they could not locate me? terrinel ================ What do you mean by freeze??? ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <>
