Who is Asset Acceptance?
Asset Acceptance, LLC. (AA) is one of the largest collection agencies in the United States. Asset Acceptance works under the umbrella of Asset Acceptance Capital Corporation (AACC) which was founded in 1962. The company specializes in the purchasing of defaulted consumer debt and servicing defaulted accounts for the original creditor.
How Asset Acceptance buys debt
Asset Acceptance purchases debt for a significant discount, sometimes as little as 2% of the original amount owed. Once the debt is purchased, Asset Acceptance proceeds to report the new collection account to the 3 major Credit Reporting Agencies (Experian, Equifax, and TransUnion) and begins contacting the consumer in an attempt to settle the account.
Asset Acceptance Complaints
Asset Acceptance has been known to use predatory business practices to collect on their debt and has had 769 complaints filed through the BBB in the last 36 months. The FTC has also recently levied a $2.5 million dollar fine against Asset Acceptance Capital Corporation for “Abusive Practices”. The company has been known to re-age debt, report incorrect balances, and continue collection activity after the expiration of the statute of limitations.
Suzanne Martindale, staff attorney for Consumers Union, a non-profit organization based in New York and the publisher of “Consumer Reports” magazine says, “Some debt collectors unfairly target consumers even when the statute of limitations has passed or when they don’t have the proper documentation to prove the debt is owed.”
Asset Acceptance Contact Information
Phone number: (800) 545-9931
Asset Acceptance Capital Corp.
P.O. Box 2036
Warren, MI 48090-2036
Asset Acceptance Solution
CreditFirm.net has helped thousands of their clients remove Asset Acceptance collection accounts from their credit reports as well as stop the abusive and harassing collection calls. If you have been contacted by Asset Acceptance or have an Asset Acceptance Collection Account reporting on your credit reports, speak to one of our credit consultants at 800-750-1416 or sign up today to start your journey toward improving your credit scores.