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Frequent Contributor
Posts: 309
Registered: ‎09-06-2011
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Re: Asset Acceptance won't accept payment!

If you are in North Carolina the new law states that no collection company can collect a debt if it's past the NC SOL. Very nice law and should be everywhere as JDBs wont be able to lie to customers and hassle them. Asset will delete the tradeline, however your BOA tradeline will stay. It will show $0 as it was charged off or sold. BOA will also not able to take a payment. Basically Asset bought it from them in hopes of getting the money from you and now that they can't they lost and moved on. This will stay on your credit and you can goodwill BOA and see if they remove the tradeline, however it should say $0 Charged Off so that should not affect your FHA Loan...I believe only UNPAID Balances affect it...however Im not an expert on mortgages so not sure about that.

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Registered: ‎04-15-2011
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Re: Asset Acceptance won't accept payment!

I agree with guiness.  There is no valid debt anymore so it won't affect your mortgage.  You will just have a CO with a $0 balance.



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Frequent Contributor
Posts: 278
Registered: ‎12-10-2012
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Re: Asset Acceptance won't accept payment!

[ Edited ]

Thanks for the comments everyone. Just staying on top of these collectors and hounding them really seems to work. Im wondering where this new law comes from?  I would like to read up on it because I have old old medical collections that are still on my credit report and if this is a new law should I dispute with them since it is past NC SOL???

 

Thanks and yes I made a complaint to the Michigan Attorney General because that it where Asset Acceptance HQ is located


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Frequent Contributor
Posts: 278
Registered: ‎12-10-2012
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Re: Asset Acceptance won't accept payment!

Asset Acceptance deleted from all but Transunion! Im assuming they take the longest. So being very excited about removing that collection I pulled my Equifax score and it only boosted 5 points! wow how dissapointing. The OC reporting the charge really holds all the weight I assume. Showing 3 90 day lates on a debt that is unpayable. All I do is keep plugging away. I think I may file a complaint on Bank of America


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Frequent Contributor
Posts: 278
Registered: ‎12-10-2012
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Re: Asset Acceptance won't accept payment!

Filed complaints with the Comptroller and the BBB for selling the debt to a buyer who will not accept payment. I asked them to accept payment or delete tradelines in error. They are reporting a 0 balance so I hope this doesnt bring asset acceptance back in the picture!??? Was this a bad idea?

 

 

 


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
New Member
Posts: 2
Registered: ‎05-24-2013
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Re: Asset Acceptance won't accept payment!

Whatever happened with BOA and Asset?

New Visitor
Posts: 1
Registered: ‎04-01-2014
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Re: Asset Acceptance won't accept payment!

I have resarched this all day and can't find it.

 

I have an old retail debt...5+ years since it has been paid on...with Asset Acceptance that has disappeared from my credit report. And I can't rememebr the last time I heard from them.  There on my credit report in June, gone now.  Do you think the above has to do with it?  I don't want to call them for fear of reactivating the 3 year SOL in North Carolina...

Frequent Contributor
Posts: 309
Registered: ‎09-06-2011
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Re: Asset Acceptance won't accept payment!


girlsully77 wrote:

I have resarched this all day and can't find it.

 

I have an old retail debt...5+ years since it has been paid on...with Asset Acceptance that has disappeared from my credit report. And I can't rememebr the last time I heard from them.  There on my credit report in June, gone now.  Do you think the above has to do with it?  I don't want to call them for fear of reactivating the 3 year SOL in North Carolina...


Only way to reset SOL is to make a payment on debt. Do not make a payment and do not admit debt is your and you will be fine

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