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Asset Acceptance deleted without payment!

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goldenyears
New Contributor

Asset Acceptance deleted without payment!

On the fourth I received a credit alert that my score had jumped 20 points! WOOT!!!  I've been getting nowhere with GW or PFD and could not find the source.  I finally broke down and pulled fresh reports today.  Asset Acceptance has deleted a collection account from my credit reports.

 

The odd story:  I have been e-mailing and snail-mailing PFD letters to AA and have heard not a peep.  I don't know why they deleted and didn't request the money, but I'm not going to ask and draw attention to myself.  29 more points and I can refinance my car at a much, much lower interest rate.

 

So excited to finally be getting past my first milestone and closing in on the next: 660 here I come!  Thanks for all the great information I have gotten on this board, I had no idea how incredibly uninformed I was until I found this place.


Starting Score: 523 TU: 3/15/2012
Current Score: 732 EQ 09/03/2014
Next Goal Score: steady 750 by Jan 2017


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Message 1 of 10
9 REPLIES 9
RobertEG
Legendary Contributor

Re: Asset Acceptance deleted without payment!

Chances are that they have had their collection authority terminated, and thus no longer have a dog in the hunt.

That could have come about due to the current creditor terminating their authority to secure another debt collector, or a decision by AA to withdraw on their own.

Or, if AA was the owner of the debt they were attempting to collect, they most likely sold it to another debt collector.

 

Either way, they have good reason to delete once they are no longer in the game.  It eliminates any need to update prior reporting, and eliminates any ability of the consumer to dispute the accuracy of their prior reporting.  A prudent business decision on their part.

 

A new debt collector could report.

Message 2 of 10
Shogun
Moderator Emeritus

Re: Asset Acceptance deleted without payment!

+1  I would watch for another CA to pop up on this one.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 3 of 10
goldenyears
New Contributor

Re: Asset Acceptance deleted without payment!

Darn it, and I was so excited about it. 

 

Would either of you recommend I contact the OC and try to PFD with them during the lull?


Starting Score: 523 TU: 3/15/2012
Current Score: 732 EQ 09/03/2014
Next Goal Score: steady 750 by Jan 2017


Take the FICO Fitness Challenge
Message 4 of 10
Shogun
Moderator Emeritus

Re: Asset Acceptance deleted without payment!

You could.  So you have no idea why it fell off?  How old was it?  Did it age off?

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 10
goldenyears
New Contributor

Re: Asset Acceptance deleted without payment!

It was due to age off in November 2013, and the OC is still there, so I'm sure that is not the cause.  I have just been trying to get PFD for the past several months - they had just sent me an offer to settle four months ago.  I only mentioned I wasn't acknowledging the debt, but wanted to move forward in my credit repair so their not being able to confirm the debt should not have been an issue.  Since they bought from the OC, I can't imagine that would have been an issue for them in any case.

 

I have gotten no acknowledgement of my offer or any additional contact from them at all in the past six months.  I am wondering if Chase (OC) will GW, since they sold the debt, I don't think a PFD is even possible with them.


Starting Score: 523 TU: 3/15/2012
Current Score: 732 EQ 09/03/2014
Next Goal Score: steady 750 by Jan 2017


Take the FICO Fitness Challenge
Message 6 of 10
Shogun
Moderator Emeritus

Re: Asset Acceptance deleted without payment!

If Chase is showing a $0 then the account was sold and they don't have any claim anymore.  If so, then yes, send a GW.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 7 of 10
RobertEG
Legendary Contributor

Re: Asset Acceptance deleted without payment!

If the OC still owns the debt, they can accept payment.  Settling the debt would certainly preclude a future debt collector, provided you pay prior to their receiving collection authority.

 

Does the OC account show a $0 balance, which would indicate they no longer own the debt?

Message 8 of 10
goldenyears
New Contributor

Re: Asset Acceptance deleted without payment!

The balance on the OC is 0 with a status of sold. I'll GW them.

If another CA pops up, they will hopefully be willing to remove since there is little time for them to collect with the leverage of reporting to CRAs.

Thanks for the heads up, at least I will be prepared to possibly lose that 20 points again.

Starting Score: 523 TU: 3/15/2012
Current Score: 732 EQ 09/03/2014
Next Goal Score: steady 750 by Jan 2017


Take the FICO Fitness Challenge
Message 9 of 10
Cadillac-XTS
Established Contributor

Re: Asset Acceptance deleted without payment!

Congrats

Message 10 of 10
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