Who is Asset Acceptance?
Asset Acceptance, LLC, also known as Asset Acceptance Capital Corp. and Encore Capital Group, Inc., is a debt collection agency based in Warren, Michigan. They specialize in purchasing and managing charged-off consumer debt portfolios.
If you have an unresolved debt, you may see Asset Acceptance listed on your credit report as a collections account, indicating they now own your debt.
Who does Asset Acceptance collect for?
Asset Acceptance is a debt buyer and collector of charged-off consumer debt. They collect debt for credit card issuers, consumer finance companies, retail merchants, utility companies, and others.
Is Asset Acceptance legit or a scam?
Asset Acceptance is a legitimate debt collection company. However, their communication methods can often be persistent and include frequent calls, texts, or emails in their attempt to recover the debt.
How can I remove Asset Acceptance from my credit report?
Collection accounts can impact your credit score for up to seven years, so it’s essential to address them promptly. To remove collections from your report, start by disputing any errors related to the account with the credit bureaus.
If the information is accurate, consider negotiating a “pay-for-delete” agreement, where you offer payment in exchange for the account’s removal. Another option is to work with a credit repair service that specializes in challenging collections.
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Asset Acceptance Capital Corporation/Encore Capital Group Contact Information
Address:
Encore Capital Group
28405 Van Dyke Ave
Warren, MI 48093
Phone number: (312) 294-0100
Should I contact or pay Asset Acceptance?
Before contacting a collection agency, verify that the debt is legitimate and accurately reported. Credit reports can contain errors or list debts that are no longer valid. Also, be aware that making payments on a debt can reset the clock and potentially harm your credit.
The most effective way to deal with Asset Acceptance is to work with a credit repair professional. They help remove millions of negative items every year from companies like Asset Acceptance, LLC on behalf of their clients.
Will Asset Acceptance sue me or garnish my wages?
Asset Acceptance could potentially sue or garnish your wages as a way to collect outstanding debts. However, such actions are typically a last resort and depend on various factors, including the size of the debt, the state laws where you reside, and whether the debt is within the statute of limitations.
Some states allow wage garnishment, while others do not. If you are in a state that does not allow wage garnishment, it is illegal for a debt collector to threaten to garnish your wages.
It is also illegal for Asset Acceptance to make any claims they cannot or will not follow through on. This includes threatening to sue you or foreclose on your home.
Asset Acceptance Complaints
Many collection agencies have numerous complaints filed with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you are being harassed, consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). These rights include disputing credit reporting errors and being treated fairly and respectfully by debt collectors.
Your Rights When Dealing with Asset Acceptance
Debt collectors must follow state and federal laws. The Fair Debt Collection Practices Act (FDCPA) prohibits abusive, unfair, or deceptive practices and ensures your rights are protected:
- It is a violation of federal law for Asset Acceptance to report inaccurate or incomplete information about you.
- You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. They have 30 days to prove the debt is yours and the amount is accurate.
- Asset Acceptance cannot threaten or harass you, call repeatedly, swear at you, or publicly publish a list of debtors.
- Asset Acceptance must be honest about who they are and their purpose. They must notify you in writing and verbally that they are a debt collection agency.
- Asset Acceptance cannot threaten to have you arrested or imprisoned for unpaid debts.
Remove Asset Acceptance From Your Credit Report Today!
Credit Saint offers assistance with disputing Asset Acceptance accounts. With over 15 years of experience, they have worked with clients to address incorrect entries on credit reports.
If managing collection accounts feels overwhelming, working with a trusted credit repair company could be a helpful step toward improving your credit.
Visit their website or call (855) 281-1510 for more details.
