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Mysterious Asset Acceptance Deletion

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Leadberry
Established Contributor

Mysterious Asset Acceptance Deletion

As of this week, Asset Acceptance is gone from all three of my credit reports!

 

I had previously disputed the account with the CRA's:  each dispute came back verified.  I filed a complaint with the BBB:  Asset Acceptance insisted they did nothing wrong.  I contacted a lawyer:  last week he reviewed my report and suggested I just wait it out.  Then a few days ago I notice the TL is gone from both EX and EQ!  TU followed suit a couple days later.  Now I'm left wondering if the lawyer said something or if this was something they initiated after the BBB complaint.  Either way, it was my last CA!  The only negative TL I have left is an old paid CO from Chase, and that falls off in less than a year.

 

Woot!

   
FICO Scores 800+
Message 1 of 8
7 REPLIES 7
guiness56
Epic Contributor
Message 2 of 8
RobertEG
Legendary Contributor

Re: Mysterious Asset Acceptance Deletion

I do not know the basis for your dispute of their reporting, but most likely they are no longer collectiing on the debt, either because they or the OC terminated the collection agreement (if the OC still owns the debt), or they sold the debt to another (if they had previously purchased the debt).

 

It is prudent business on their part to delete once they are no longer authorized to collect on the debt, as it eliminates any need on their part to either update prior reporting, or to address any dispute under the FCRA.  No reporting, no issue of inaccuracy.

 

If the debt still lives, then a new debt collector can report.  If the prior dispute was resovled by verification of the debt, then a new debt collector would have no restriction on reinsertion, such as having to provide pre-certification of accuracy.

Message 3 of 8
drkaje
Senior Contributor

Re: Mysterious Asset Acceptance Deletion

Pretty much seems like a window to pay the debt without any credit damage.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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Message 4 of 8
Leadberry
Established Contributor

Re: Mysterious Asset Acceptance Deletion


@guiness56 wrote:

Congrats!


Ty!

   
FICO Scores 800+
Message 5 of 8
Leadberry
Established Contributor

Re: Mysterious Asset Acceptance Deletion


@RobertEG wrote:

I do not know the basis for your dispute of their reporting, but most likely they are no longer collectiing on the debt, either because they or the OC terminated the collection agreement (if the OC still owns the debt), or they sold the debt to another (if they had previously purchased the debt).

 

It is prudent business on their part to delete once they are no longer authorized to collect on the debt, as it eliminates any need on their part to either update prior reporting, or to address any dispute under the FCRA.  No reporting, no issue of inaccuracy.

 

If the debt still lives, then a new debt collector can report.  If the prior dispute was resovled by verification of the debt, then a new debt collector would have no restriction on reinsertion, such as having to provide pre-certification of accuracy.


I would hope they wouldn't be attempting to collect on the debt in question--I guess I should've mentioned this debt has been paid and the account closed for some time.  The disputes were based on multiple inaccuracies in their reporting, most notably regarding balances.  I certainly wouldn't be celebrating a deletion if this were an active debt that could possibly be sold to another CA and relisted.

   
FICO Scores 800+
Message 6 of 8
Leadberry
Established Contributor

Re: Mysterious Asset Acceptance Deletion

To anyone who may be interested, and I know it's a bit late to the game, but I just recently received a letter from the Michigan AG's office, and it looks like they're the ones responsible for the AALLC deletion.  Cheers.  Smiley Tongue

   
FICO Scores 800+
Message 7 of 8
proudnavymom
Regular Contributor

Re: Mysterious Asset Acceptance Deletion

I had an account listed with Asset Acceptance a few years ago and tried to get them to agree to a PFD, but they refused.  They offered me a good settlement, so I paid it and was just going to wait it out and try GW'ing them in a few months.  A couple of months after I paid the settlement it was deleted from all CRA's that had it listed without me contacting them again and it has not reappeared. As a side note,  for the last few months I have been receiving phone calls several times a day from them on my home phone, but they have never left a message and they are not reporting.  I sent them a letter this week, so we will see what happens.   

Starting Scores TU 7/30/09 FICO 493 EQ 9/5/10 FICO 477 EX 11/14/2011 (lender pull) 575
Current Scores TU 10/19/2018 FICO 671 EQ 12/21/2018 FICO 614 EX 5/31/2014 FICO 658
Goal Scores 700 across the board
Message 8 of 8
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