If you’ve found Asset Acceptance listed on your credit report, it likely means they’ve purchased an old debt of yours and are trying to collect. Here’s how to handle it—and potentially remove it for good.
Who Is Asset Acceptance?
Asset Acceptance, LLC—also known as Asset Acceptance Capital Corp. or part of Encore Capital Group—is a debt collection agency based in Warren, Michigan. They buy charged-off consumer debt from companies like credit card issuers, retail stores, utility providers, and other lenders. Once they purchase the debt, they start collecting on it.
If you see them on your credit report, it means they believe you owe money on an account they now own.
Is Asset Acceptance a Legitimate Company?
Yes, Asset Acceptance is a real debt collection agency, not a scam. That said, they’ve built a reputation for aggressive collection tactics. You might receive frequent phone calls, emails, or letters from them.
Even though they’re legitimate, you still have rights—and options for getting their account removed from your credit report.
How Long Can a Collection Stay on Your Credit Report?
Collection accounts can stay on your credit report for up to seven years from the date of the original delinquency. And even if you pay it, that doesn’t automatically remove it.
That’s why it’s important to act strategically if you want to clean up your report.
How to Remove Asset Acceptance From Your Credit Report
Here are a few ways to remove a collection account from your credit report:
- Dispute any errors: Start by requesting your credit reports from the three major credit bureaus (Equifax, Experian, and TransUnion). Look closely for mistakes—wrong dates, incorrect balances, or accounts that don’t belong to you. If you spot something, file a dispute directly with the credit bureau.
- Send a debt validation letter: Under the Fair Debt Collection Practices Act (FDCPA), you have the right to ask for proof that the debt is valid and belongs to you. If they can’t verify the debt, they must remove it from your report.
- Negotiate a pay-for-delete agreement: This is when you offer to settle the debt in exchange for the collection account being deleted from your credit report. Not all collectors agree to this, but it’s worth trying—and you’ll want to get it in writing.
- Work with a credit repair company: If you’d rather not handle it yourself, a reputable credit repair service can deal with companies like Asset Acceptance on your behalf. They know how to challenge inaccurate entries and negotiate removals.
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Should You Contact or Pay Asset Acceptance?
Before you call them or send any money, confirm that the debt is valid. Mistakes happen more often than people think. If the debt isn’t yours—or if it’s too old to be legally collected—you may not owe anything.
Also, be careful: Making a payment can reset the statute of limitations in some states. That could reopen you to lawsuits or other legal actions.
If you’re unsure how to proceed, talk to a professional before taking any action.
Can Asset Acceptance Sue or Garnish Your Wages?
Yes, they can—but only under specific conditions. Suing you is typically a last resort. It depends on how much you owe, the age of the debt, and your state’s laws. Some states allow wage garnishment, while others don’t.
It’s illegal for them to threaten to sue or garnish wages if they don’t intend to follow through—or if they aren’t allowed to do so under the law.
If you ever feel intimidated or harassed, remember: You have rights.
Your Rights Under the Law
Debt collectors have to follow strict rules under the FDCPA and the Fair Credit Reporting Act (FCRA). Here’s what you’re entitled to:
- Accurate reporting: They can’t report incorrect or incomplete information about you.
- Debt validation: You have the right to request proof that the debt is yours. They must respond within 30 days.
- No harassment: They can’t repeatedly call you, use profanity, or threaten you with arrest.
- Transparency: They must identify themselves as debt collectors and explain the purpose of their call or letter.
- No public shaming: They’re not allowed to publish lists of debtors or threaten your reputation.
If any of these rights are violated, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) or the Better Business Bureau (BBB).
Common Complaints About Asset Acceptance
Like many debt collectors, Asset Acceptance has received complaints—mostly for inaccurate reporting, failure to validate debts, and aggressive communication tactics.
If you feel they’re violating your rights, keep records of your interactions and consider taking legal action or working with a professional.
Contact Information for Asset Acceptance
Encore Capital Group (Asset Acceptance)
28405 Van Dyke Ave
Warren, MI 48093
Phone: (312) 294-0100
Need Help Removing Asset Acceptance?
If dealing with this feels like too much, you’re not alone. Credit repair professionals handle disputes like these every day—helping people challenge inaccurate items from agencies like Asset Acceptance.
Credit Saint can help you review your reports, prepare effective disputes, and work toward removing negative accounts. They also offer a 90-day money-back guarantee if you’re not satisfied.
Call (855) 281-1510 or visit their website for a free consultation.
Brooke Banks is a personal finance writer specializing in credit, debt, and smart money management. She helps readers understand their rights, build better credit, and make confident financial decisions with clear, practical advice.
