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New Contributor
Posts: 61
Registered: ‎02-21-2008
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Asset Acceptance

Asset has been reporting a collection from a Walmart charge off since at least October when I began monitoring my reports. Today I get a dunning letter...clearly notates on it that this is "First Notice." They've been reporting for at least 7 months and I'm just now getting a dunning notice. I settled this account on Friday so obviously our communication crossed....but aren't they suppose to provide the notice prior to reporting?

Moderator
Posts: 16,006
Registered: ‎07-14-2009
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Re: Asset Acceptance


jacq wrote:

Asset has been reporting a collection from a Walmart charge off since at least October when I began monitoring my reports. Today I get a dunning letter...clearly notates on it that this is "First Notice." They've been reporting for at least 7 months and I'm just now getting a dunning notice. I settled this account on Friday so obviously our communication crossed....but aren't they suppose to provide the notice prior to reporting?


Placing this on your reports is considered an initial contact and legal but they are still required to send you that dunning letter within five days of doing so.

 

The problem is usually how do you prove a negative, i.e., how do you prove you never got a dunning letter? But if you have something that says "First Notice" it looks like you caught them in a violation.

New Contributor
Posts: 61
Registered: ‎02-21-2008
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Re: Asset Acceptance

Thanks MarineVietVet. Does that mean each of their monthly updates constitute additional violations? Guess I need to go back and refresh my memory :smileyhappy: thanks for your input.
Moderator
Posts: 16,006
Registered: ‎07-14-2009
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Re: Asset Acceptance


jacq wrote:
Thanks MarineVietVet. Does that mean each of their monthly updates constitute additional violations? Guess I need to go back and refresh my memory :smileyhappy: thanks for your input.

I'm not sure about that and so will remain silent instead of possibly giving you the wrong answer.

Frequent Contributor
Posts: 309
Registered: ‎09-06-2011
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Re: Asset Acceptance


MarineVietVet wrote:

jacq wrote:
Thanks MarineVietVet. Does that mean each of their monthly updates constitute additional violations? Guess I need to go back and refresh my memory :smileyhappy: thanks for your input.

I'm not sure about that and so will remain silent instead of possibly giving you the wrong answer.


I believe a violation applies to a tradeline period so that would be one violation of reporting prior to dunning notice which could be up to $1000..but not monthly...LOL..I wish.

 

Anyway did you say you settled this already and paid it?? if you did and you have that "First Notice" I would definitely use that to perhaps get that removed from your credit. Email their compliance department and scan the letter you received into PDF and then attach it in the email and write to them that clearly their letter states FIRST NOTICE, yet they have been reporting this for 7 months which is very conflicting and seems like violation has occured and stress that you would prefer to have this tradeline deleted based on their violation rather than get lawyers involved as clearly they are in violation of federal law.

 

I'm going to PM you an email addressed that I used and had a great success with them when I caught them in violation. the lady was very helpful and although we went few rounds, eventually she deleted it. Maybe she can help...she might have been nice to me since I emailed all their executives and CEOs..but you can try nonetheles.

NFCU Visa Sig $30k / Fidelity Amex $25k/ Amex Blue Cash $8.5k / Chase Freedom $14.5k / Citi Best Buy MC $3K / Citi Double Cash $3k / Barclay Rewards MC $2.95k / BOA - BBR $2.5k / SY Lowes $8.5k / SY Amazon $5k / Target RedCard - $300 / NO CAPONE IN MY WALLET!!
Frequent Contributor
Posts: 309
Registered: ‎09-06-2011
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Re: Asset Acceptance

PM'ed...keep us updated of you success!

NFCU Visa Sig $30k / Fidelity Amex $25k/ Amex Blue Cash $8.5k / Chase Freedom $14.5k / Citi Best Buy MC $3K / Citi Double Cash $3k / Barclay Rewards MC $2.95k / BOA - BBR $2.5k / SY Lowes $8.5k / SY Amazon $5k / Target RedCard - $300 / NO CAPONE IN MY WALLET!!
New Contributor
Posts: 61
Registered: ‎02-21-2008
0

Re: Asset Acceptance

I emailed an address listed on their notice for consumer complaints. I also reminded them that they are reporting this as an open account on one credit report, a retail account on another, and as an installment loan on yet another. I am giving them 10 days to decide how they are going to address these issues before I pursue "legal options available to me to resolve this inaccurate reporting."

Epic Contributor
Posts: 20,071
Registered: ‎03-19-2007
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Re: Asset Acceptance

It appears as if they have violated the timely dunning notice requirement of FDCPA 809(a).

However, violatation of the debt collection practices requirements of the FDCPA is not in and of itself basis for deletion of accurate information reported to a CRA under the FCRA.

You can file a complaint with the FTC, your BBB, state AG, or bring your own legal action.

I agree that you might have mutliple violations. 

If taking them to task for violating the FDCPA, and making them pay for such violations, is desired, I would pursue it.

But I would not expect mandatory deletion of anything reported to the CRAs to be a necessary part of the outcome.

Disputes over their reporting are based on their accuracy, not compliance with the FDCPA.

New Contributor
Posts: 61
Registered: ‎02-21-2008
0

Re: Asset Acceptance

They are so tiring. Today I got a receipt for my PAYMENT...it was a settlement that they agreed to in writing if I paid before their deadline, which I did. My Ex is still showing it as an installment account...I don't know what to do from here.

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