A JDB such as Asset Aceptance is a Collection Agency. They would have identified themselves to you as such as well. IMO, They ARE NOT a FACTORING COMPANY as they would claim. Factoring companies buy accounts in GOOD STANDING (NOT IN DEFAULT) albeit with an intent to collect on the account. But thats the distinction. The debt is not in default. It could go in default later on but thats the risk the Factoring companies dopt. They also verify the account with the consumer before they acquire the same.
The JDBs might claim that the CDIA Metro2 Manual states that they are a Factoring company since they are collecting on a debt. But in my books, thats not accurate and IS a violation. The only reason that I can think of that they do this is so that they do not have to adhere to the FDCPA as they would claim they are not a CA.
I will try and post the pertinent excerpt from the CDIA metro2 manual but you could google it.
Listing the a/c type as an Installment a/c (Guessing on EX?) is also IMO a violation.
But you would need more and more such violations to formulate a case. One or two could be dismissed as bona fide errors. But probably not if there are numerous violations of all sorts. Keep diggin i'd say. I am dealing with Asset as well and am into the 5th month now.
