Asset Acceptance is a purchaser and collector of charged-off consumer debt and was formed in Asset Acceptance has 1, associates across 10 offices in nine states. In Phillips v. The relevant facts were that Asset Acceptance is in the business of purchasing defaulted debts from businesses and then seeking to collect those debts from the debtors. On December 15, , Phillips defaulted on a debt owed to Nicor Gas Company for the purchase of natural gas.
Consumer-Phillips raised the statute of limitations as an affirmative defense on October 23, Asset Acceptance voluntarily dismissed the suit on December 17, The parties agreed that a collection suit accrues when the underlying account becomes delinquent, and therefore that Nicor Gas's collection claim against Phillips accrued on December 15, The parties further agreed that Asset Acceptance, upon purchasing Phillipa's debt from Nicor Gas,stepped into Nicor Gas's shoes for purposes of the accrual date.
The parties disagreed, however, about the applicable statute of limitations for the collection suit. Asset Acceptance filed its collection suit against Phillips more than five years after its collection claim accrued. The Court found that the suit was untimely regardless of whether the limitations period is four or five years. The Court held that Asset Acceptance, LLC presented no binding authority that it had standing to pursue the case and the Court ruled in favor of the consumer.
If you are being sued by Asset Acceptance, LLC or its representatives, or are suffering debt collection abuse or harassment at the hands of Asset Acceptance, contact me at Asset Acceptance has been in business since and specializes in the collection of charged-off consumer debt. Most, if not all of the debts they collect have been purchased by another company under the Asset Acceptance Capital Corp.
They have over employees and have offices in nine states. Asset Acceptance has been involved in various lawsuits brought forth by consumers throughout the years ranging from: Fair Debt Collection Practices Act, and the Fair Credit Reporting Act.
At the present time, the Better Business Bureau lists over complaints having been filed against this company within the last 3 years. Upon completion, you can either print the completed forms and mail in the hard copies to the courts or you can pay SoloSuit to file it for you and to have an attorney review the document. SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!
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