cancel
Showing results for 
Search instead for 
Did you mean: 

Asset Acceptance won't accept payment!

tag
MarcinXP
Frequent Contributor

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.

NFCU Visa Sig $30k / Amex Blue Cash $25.5k / Fidelity Amex $25k / Chase Freedom $14.5k / Citi Double Cash $5k / Capital One Quicksilver Visa Sig $5k / Citi Best Buy MC $3K / Barclay Rewards MC $2.95k / BOA - BBR $2.5k / SY Lowes $15k / SY Amazon $6k / Target RedCard - $300
Message 21 of 28
Shogun
Moderator Emeritus

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.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 22 of 28
rightcoast
Frequent Contributor

Re: Asset Acceptance won't accept payment!

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


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
Message 23 of 28
rightcoast
Frequent Contributor

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
Message 24 of 28
rightcoast
Frequent Contributor

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
Message 25 of 28
mham7
New Member

Re: Asset Acceptance won't accept payment!

Whatever happened with BOA and Asset?

Message 26 of 28
girlsully77
New Visitor

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...

Message 27 of 28
MarcinXP
Frequent Contributor

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

NFCU Visa Sig $30k / Amex Blue Cash $25.5k / Fidelity Amex $25k / Chase Freedom $14.5k / Citi Double Cash $5k / Capital One Quicksilver Visa Sig $5k / Citi Best Buy MC $3K / Barclay Rewards MC $2.95k / BOA - BBR $2.5k / SY Lowes $15k / SY Amazon $6k / Target RedCard - $300
Message 28 of 28
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.