Asset Acceptance trying to collect old debt

[yanni72]

I live in California.

Situation: I have a credit card that went to charge-off almost 4 years ago and is now in the hands of Asset Acceptance. The Statute of LImitations expires on 6/1/05 (I believe state of Calif. SOL is 4 years). The original charge-off amount was $3500 -- somehow Asset Acceptance has let it blossom to over $8500. My question is, do you think they will try and sue me at this late date or should I keep my fingers crossed and nope nothing happens in 3 months. I have never spoken to any of the harassing representatives from Asset Acceptance.

Please advise as to what I should do. Thanks!

 

[Debt Guy]

Q. The Statute of LImitations expires on 6/1/05 (I believe state of Calif. SOL is 4 years).

A. You are correct about the 4 years. However the SOL does not run from the date of charge-off. It begins on the date of default -- which is generally 30 days after your last payment and usually several months before charge-off. You need to get a copy of your credit report and find the entry for the original creditor and see what is in the DOLA column. DOLA means date of last activity. It is possible they are already past SOL.

Q. The original charge-off amount was $3500 -- somehow Asset Acceptance has let it blossom to over $8500.

A. Happens all the time.

Q. My question is, do you think they will try and sue me at this late date

A. My Oujia board is down for maintenance right now. Try some tea leaves.

Q. or should I keep my fingers crossed and nope nothing happens in 3 months.

A. Cross your fingers, arms, legs and eyes.

Q. I have never spoken to any of the harassing representatives from Asset Acceptance.

A. OK. Have they tried to contact you? Do they know where you live? If so, a summons is not very hard.

Final thoughts: Just because SOL has passed does not mean you are out of the woods. They can still sue you. All SOL means is that you can raise SOL as an affirmative defense to their suit. Never, ever ignore a summons -- always open your mail to see what it says. Ignorance is not bliss in this case. If you mess up and fail to respond to a summons, even if SOL is past, then they will get a judgment and you will have a major problem.

 

[jrogers99]

Asset Acceptance Co.

I live in California.

Situation: I have a credit card that went to charge-off almost 4 years ago and is now in the hands of Asset Acceptance. The Statute of LImitations expires on 6/1/05 (I believe state of Calif. SOL is 4 years). The original charge-off amount was $3500 -- somehow Asset Acceptance has let it blossom to over $8500. My question is, do you think they will try and sue me at this late date or should I keep my fingers crossed and nope nothing happens in 3 months. I have never spoken to any of the harassing representatives from Asset Acceptance.

Please advise as to what I should do. Thanks!

undefined
Hi, I recently dealt with Asset Acceptance mine account was an fraudulent account and they took care of it immediatly. My advice would be to give them a call I spoke with a Debbie Tadlock she was very nice and understanding. On my account the the amount went up also...although im not sure if it was Asset but the reason it went up was because they send it to debt collector after debt collector and the debt collector's charge you. Yeah confusing! Call them and find out why what can it hurt? Oh, she did not call me 50 times a day...she did once and then after that I was the one getting in touch with her. You can at least try to keep the amount from rising again....debt collectors can be theives!!!!

 

[Debt Guy]

jrogers --

Wonders will never cease to amaze me. You are the first person I have ever heard say anything nice about Asset Acceptance.

 

[jrogers99]

jrogers --

Wonders will never cease to amaze me. You are the first person I have ever heard say anything nice about Asset Acceptance.

Maybe I was just one of the lucky ones. They actually handled my case very well, and within 30 days erased the file from my credit.undefined

 

[Ladynred]

Actually ASSet is notorious for suing on out-of-statute debts, they just love to brag about how much they win by doing this too. You need to watch these scumbags, they are NOT NICE people at all.

In CA it is ILLEGAL for them to sue you for an out-of-statute debt. You need to check the CA version of the FDCPA, you can have THEM paying YOU for the debt.

You most likely ARE already past the SOL. If that turns out to be the case, you can send ASSet a cease and desist letter telling to get lost, the debt is time-barred.

 

[preson]

irogers
yours was fraudulent hers isn't

 

[jrogers99]

irogers
yours was fraudulent hers isn't[/QUOTE]


yes I know....I was just telling her about my experience with themundefined