Asset Acceptance - How To Get Them Off Your Back
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Asset Acceptance is one of those collection agencies that purchases the debt that you failed to pay off at some point. It is one of the largest collection agencies in the U.S. To avoid a lawsuit, you need to negotiate with Asset Acceptance to settle your debt. Try to follow the suggestions listed below to avoid any unpleasant situations.
1. It is important for you to find out if your debt is outside of the statute of limitations. If the statute of limitations has expired by any chance, you have the option of leaving the debt unpaid and you do not have to face any legal consequences. So find out from your state Attorney General's office, the statute of limitations in your state.
2. If you do not recognize a debt, it is of utmost importance to request a debt validation. Every collection agency is required by Fair Debt Collection Practices to provide written proof to consumers that the debt is really valid. They are obligated to do this even if the debt is legitimate. You can certainly place a request for it.
3. Make a list of your assets. If you can afford to pay off the debt by paying a lump sum amount, then that is the way to go. You should also know that collection agencies often settle for a lower amount when a lump sum amount is paid rather than making payments in installments.
4. You should always talk to a supervisor at Asset Acceptance to discuss your debt. Only supervisors have the authority to negotiate the terms of a debt settlement with a consumer. Customer service representatives can discuss your debt but they are in no position to discuss the terms of a debt settlement.
5. You need to be patient while negotiating the debt settlement amount with the supervisor at Asset Acceptance. Always keep in mind that you should propose a lower amount than the amount you can afford. That way you can leave some room for negotiation.
6. Once you have had the discussion with the supervisor about the terms and conditions of the settlement of debt, request him to send you the terms in writing. It is extremely important to have all the documentation in writing in case the supervisor fails to provide you the documents and Asset Acceptance ends up demanding the full debt amount once you agree on and meet the terms of the settlement.
7. Avoid making a payment with a bank draft or check since they contain checking account information. Make a payment via money order. This way you can avoid any additional money to be pulled out from your checking account by mistake without your permission. Make it a point to remind Asset Acceptance to remove negative information on your credit report as part of the settlement agreement. You do not want a collection amount on your credit report by any means. Having a collection amount can damage your credit score for as long as it remains on your credit report.
Make sure with Asset Acceptance in writing that the remaining balance of the debt will not be sold to any other collection agency under any circumstances. Only when you get this assurance, enter into an agreement with them. If you do not ensure this, it is likely that you might be contacted again and harassed by Asset Acceptance about the same debt again.
Article Source: Articlelogy.com
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