Dispute Asset Acceptance LLC - How do I proceed?

[Anonymous]

I disputed Asset Acceptance LLC with all 3 of the credit bureaus as "no knowledge of account".  It doesn't correspond to anything on my reports.  EQ and EX deleted, but TU verified.  I received a letter from FMS Inc. on behalf of Asset Acceptance LLC that says (I abbreviated and truncated unnecessary info),

"This letter is in response to your recent inquiry regarding the above referenced account.  We aske that you complete this form and return it to the address listed above.  While you are not required to provide this information, it will help us resolve this matter more quickly.  In any event, we will not be contacting you further until we have verified your debt."  (Bold added by me for emphasis)

Option 1.  "I dispute the entire account for reasons of possible fraud.  (Attach documentation that includes your signature, ssn, name, dob, copy of police report, etc)

Option 2.  "I am disputing an individual charge on my account" (Provide detailed dispute letter)

Option 3.  "I made a payment which has not been applied to my account" (Attach the front and back copy of your cancelled check or other evidence of payment)

Please sign this letter and return it with the requested documentation to:

FMS Inc.

Can I send a copy of this letter to TU with another request that they delete?  Isn't this an admission by them that they can't verify the debt?  I assume that I should NOT provide them with my ssn, signature, etc?!

Please advise how to proceed.  I'm fairly new to all of this and don't want want to screw it up.

[Anonymous]

Have you ever DV'd this account?

If this account was to turn out to be yours and you have just overlooked it, is it within SOL or can you PIF?

What is DOFD?

I would send MOV to TU and see what they respond with.

[Anonymous]

No, I've never DV'd it.  I just disputed with the CRA's and it was deleted off 2 of 3 last month. Then today, I got this letter.

I don't know what DOFD is.  According to TU, the DOLA on it is 02/05 so it would be past SOL since my state is 3 years for open ended.  It shows the original creditor as HSBC Best Buy. 

It's a little over $1000 so I couldn't PIF right now with other obligations that are more pressing.  They sent a letter a couple of weeks ago offering a 50% settlement, but I ignored it since I don't believe it's mine and I already disputed and they shouldn't be able to verify. 

[Anonymous]

Did you have a Best Buy?

I certainly wouldn't send SSN and signature.

I would send MOV to TU.

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headoutofsand wrote:

No, I've never DV'd it.  I just disputed with the CRA's and it was deleted off 2 of 3 last month. Then today, I got this letter.

I don't know what DOFD is.  According to TU, the DOLA on it is 02/05 so it would be past SOL since my state is 3 years for open ended.  It shows the original creditor as HSBC Best Buy. 

It's a little over $1000 so I couldn't PIF right now with other obligations that are more pressing.  They sent a letter a couple of weeks ago offering a 50% settlement, but I ignored it since I don't believe it's mine and I already disputed and they shouldn't be able to verify. 

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[SaveMeFromDebt]

I've been having an issue with Asset Acceptance for awhile now.  I've disputed the debt with them multiple times, but I get their standard cookie cutter reponse that they purchased this debt from an original collector (in my case AMEX).

I recently disputed this with all the CRAs as well, wanting further verification of this debt being valid.  It isn't valid, if for no other reason than the Statute of Limitations.  I just received a follow up letter from Asset Acceptance (probably due to the prompting from the CRAs), and reading it closely I HOPEFULLY found a way out.

At the bottom of the correspondence from Asset Acceptance to me it states:   The law limits how long you can be sued on a debt.  Because of the age of your debt, we will not sue you for it, and we will not report it to any credit reporting agency.

I am making copies, highlighting the appropriate sentence, and sending one to each of the CRA's with a request to remove this from my credit report.  Let's see how that works.

[RobertEG]

They are acknowledging that the debt is now outside of SOL, and thus will not be initiating any legal action.

That is not basis for credit report deletion.  It does not state that the debt is not valid, only that they have lost their ability to seek a judgment from the court.

Theri prior response, likewise, is not a statmement that they cant verify the debt, only that they have not yet done so.

As such, I dont see basis for dispute with the CRA.

In either a request for debt validation or a dispute of accuracy of their reporting, they are not required to provide docementation or prove the issue.

You can pursue verification by way of a DV or a dispute.

If you pursue by way of a DV, the result is only that it will impose a cease collection bar on them until such time as they have provided verification of the debt.

It will not require verification.  And a DV must be timely to invoke a cease collection bar.  If they sent dunning notice more than 30 days ago, any DV at this time would be untimely, and thus impose no cease collection bar.  They could choose to ignore it.

If you pursue a dispute under the FCRA, they must respond within 30 days.  So use of a dispute will give you a time period for their verification.

If they then formally verify, the dispute is concluded.

If they have reasonable documentation leading them to conclude that you are the responsible party, they can legitimately verify.

They need not provide documentation supporting their verification or prove the issue.

Neither the DV nor FCRA dispute processes have provision for substantive  revew of contested views of verification.

If your basis for dispute is that the account/debt is not yours and was never authorized by you, the path under the FCRA is to get their reporting blocked under the identity theft process, which avoids any showing of proofs on your part.  Difficlult to prove a negative.

If willing to put your assertion that you did not authorize the debt into a sworn police report, you can send that report to the CRA and get their reporting blocked from your credit report under the provisions of FCRA 605B.