What to do about Asset Acceptance

[Anonymous]

Hello All,

I've been following these forums for about a year now, but now I need some help that I can't seem to find in any previous threads.

Ok, trying to keep this short:

I had a Target card (Target National Bank) from 2004 that I defaulted on...  They Closed the account and apparently sold it to Asset Acceptance Corp.  I just received a call today from MCM trying to collect that same debt.  On my credit reports, it says that my AAC account is closed, but I have a past due amount of $1,197.  On my Scorewatch, AAC is listed as open with a past due amount of $1,298. 

 My questions are:

- Do I DV AAC, MCM, or both? 

- Do AAC and MCM have a reputation for being able to validate or are they just completely JDB?

I've received offers for a discounted settlement, and I can PIF, but I'd rather not if I don't have to.

ANY opinions will help!  Thanks!

[llecs]

If MCM hasn't yet sent you a dunning letter, then I'd wait for that. In the meanwhile, if you have the $$$ to PIF or if SOL expired, then I'd send a DV to AAC.

[RobertEG]

This scenario is a mess.

All I see as a fact is that Target was the OC, and that AAC posted a collection account to your CR.

Did AAC ever send you dunning notice?

If ACC closed their collection account because they passed it on to another CA, AAC must delte their CA from your CR once MCM posts to your CR.  You can have only one CA reporting on an OC acount.

If a new CA, who you designate as MCM, called you today, that call triggered their requirement under FDCPA 809(a) to provide you formal, written dunning notice under FDCPA 809(a), within five days of that call, in which they must tell you the name of the creditor from whom they are attempting collection (who owns the debt), the amount of the debt, and who to respond to within 30-days to request validation of the debt. 

MCM, unless and until they post to your CR or send you dunnning notice, has no legal standing other than a telephone call.

Send a DV letter to CAA,  They are the legal entity in your CR, giving you the right to DV them under the FDCPA based on their "initial contact wth you" due to a posting in your CR,

Letr the CAs then tell you the facts.

Message Edited by RobertEG on 09-11-2009 12:01 AM

[Anonymous]

llecs, I have not received anything in writing from MCM, but in my conversation with them yesterday, they basically threatened that unless I settle, they will then report to the CRA's. 

RobertEG, I'm sure AAC sent me a dunning notice, but it was at least 3 years ago when I was still dodging debt collectors.  MCM has not yet reported to any CRA's, just starting the phone call game. 

I will DV AAC and see what plays out from there...

[llecs]

Never talk to a CA.