Asset Acceptance!!!! What should I do?

[servin89]

I have a collections of my CR for $923 from Asset Acceptance (AA). They are reporting as a Factoring Company Account ( debt buyer). From what I read they are not suppose to do that. 

DofD is 11/2009

I live in TN.

I am not sure should I pay a settlement amount and then file a complaint with the BBB, bc i have read that AA does not do PFD.

Could someone give me advice or tell me what they did to get the TL deleted?

[Shogun]

Actually listing themselves as a "factoring company" isn't in itself a violation.  It's wrong in my opinion, but not a violation.  It does give them the ability to post as an OC and include some information that should not be.  That is where the problems lie.

[kstmommy]

Shogun, could you clarify?

[servin89]

So does anyone have advice on what I should do?

[Shokk]

Filing with the BBB won't do anything at all.  As was mentioned, they are allowed to list as a factoring company.  I'm not familiar with TN laws or finance codes.  You could send a DV letter, but if there are no TN laws that require them to respond, they may or may not.

You could contact them and ask for a PFD.  If they refuse, see  if they will settle for less.  Get this in writing.  Pay it.  Wait a month and then dispute the TL with CRSs.  Once they have their money, there's a chance they won't respond to the dispute.

[guiness56]

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@Shokk wrote:

Filing with the BBB won't do anything at all.  As was mentioned, they are allowed to list as a factoring company.  I'm not familiar with TN laws or finance codes.  You could send a DV letter, but if there are no TN laws that require them to respond, they may or may not.

You could contact them and ask for a PFD.  If they refuse, see  if they will settle for less.  Get this in writing.  Pay it.  Wait a month and then dispute the TL with CRSs.  Once they have their money, there's a chance they won't respond to the dispute.

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What would be the basis for a dispute? 

[Shokk]

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@guiness56 wrote:

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@Shokk wrote:

Filing with the BBB won't do anything at all.  As was mentioned, they are allowed to list as a factoring company.  I'm not familiar with TN laws or finance codes.  You could send a DV letter, but if there are no TN laws that require them to respond, they may or may not.

You could contact them and ask for a PFD.  If they refuse, see  if they will settle for less.  Get this in writing.  Pay it.  Wait a month and then dispute the TL with CRSs.  Once they have their money, there's a chance they won't respond to the dispute.

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What would be the basis for a dispute? 

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Lol, you had to get technical.  Not mine?  I read somewhere its a good tactic to get paid collections removed, because once they get paid, they don't care and won't respond to a dispute from CRA.  Legal?  No idea.

[guiness56]

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@Shokk wrote:

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@guiness56 wrote:

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@Shokk wrote:

Filing with the BBB won't do anything at all.  As was mentioned, they are allowed to list as a factoring company.  I'm not familiar with TN laws or finance codes.  You could send a DV letter, but if there are no TN laws that require them to respond, they may or may not.

You could contact them and ask for a PFD.  If they refuse, see  if they will settle for less.  Get this in writing.  Pay it.  Wait a month and then dispute the TL with CRSs.  Once they have their money, there's a chance they won't respond to the dispute.

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What would be the basis for a dispute? 

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Lol, you had to get technical.  Not mine?  I read somewhere its a good tactic to get paid collections removed, because once they get paid, they don't care and won't respond to a dispute from CRA.  Legal?  No idea.

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Lol.  That is me, miss technical.

If the TL is reporting accurately it shouldn't be done.  You aren't supposed to dispute accurate information and is against the TOS of the forums to do so or tell others to do it.

I know it is a tactic used often but it can backfire and be updated also.