Asset Acceptance LLC

Asset Acceptance LLC

Have you been getting missed calls and letters from a company called Asset Acceptance LLC? An overdue bill is likely the culprit.

They are a collection agency that has been hired by the original owner of the debt in order to collect payments from you.

They are persistent and will not yield their collection efforts until you pay your debt. Unfortunately, this can do more harm than good in the long run.

In order to legally collect payments from you, they must open a collection account on your credit report.

This entry shows that you have had a bill that has moved to collections in the past. It will negatively impact your credit score and affect your loan prospects for years to come.

The best way to prevent these negative effects on your credit history is to remove Asset Acceptance LLC’s entry as soon as possible.

What is Asset Acceptance LLC?

Asset Acceptance LLC is a medium-sized debt collection agency that was founded in Delaware in 1994.

However, they are connected to a company called Encore Capital Group and is a part of Asset Acceptance Capital Corporation, which has been in business since 1962.

Currently headquartered in Troy, MI, they collect a variety of consumer commercial debts.

This includes credit card, retail, auto, utility, telecommunication, and health care debt.

How to Deal with Asset Acceptance LLC

Dealing with Asset Acceptance LLC is difficult but not impossible.

With the right steps, you can remove the collection from your credit report and stop their calls for good.

These are the four critical steps to take in order to deal with Asset Acceptance LLC and bring your credit history back to its former glory.

Send a Debt Validation Letter

The most important and time-sensitive step when dealing with a debt collector is requesting debt validation.

This is how you can make sure that Asset Acceptance LLC is collecting the debt based on legitimate information.

Legally, a debt collector cannot pursue payment without having the proper paperwork. They may not always have this because of the quick transition of debt acquisition from the original creditor.

If you can get them to admit that they don’t have the proper paperwork, you can have the debt removed from your record without paying a cent.

To begin, write a letter to them within 30 days of the first contact asking them to provide you with details about the debt.

This includes information like how much you owe, who the original creditor or lender is, and the date of last account activity.

Asset Acceptance LLC should respond within 30 days with documents that prove the account belongs to you.

If they cannot, they are required to contact the three major credit bureaus and remove the debt from your credit report.

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Request Goodwill Deletion

If you have already paid for the debt, you still have a chance at getting it removed. You can ask Asset Acceptance LLC for a goodwill deletion.

Goodwill deletions are typically reserved for people that have an otherwise clean record and have already paid the balance of the debt without any issues.

If this describes your situation, you may benefit from asking Asset Acceptance LLC for a goodwill deletion.

Write a letter to them explaining why you were late on your payments in the first place.

If there was a legitimate barrier, such as a job loss or sudden medical emergency, this will lend to your narrative.

It’s important to always be polite and honest in the letter.

Asset Acceptance LLC is good at detecting lies, and they will likely ask you to back up your story with documentation.

Make sure that whatever you tell them is the whole truth.

Negotiate a Pay-For-Delete Agreement

Debt validation and goodwill deletions don’t always work when it comes to removing a collection entry from your credit report.

Your next best option is to negotiate a settlement with the agency. Specifically, you will want to make a pay-for-delete agreement.

A pay-for-delete agreement works in favor of both you and Asset Acceptance LLC.

You get the negative entry deleted from your credit report, and they get payment on the debt.

While it may sound like a win-win situation, pay-for-delete agreements can be difficult to strike with a debt collector.

That is because they would essentially be falsifying credit records by deleting the entry. However, they may go for it if they are desperate enough for your money.

Start by offering them somewhere between 30% to 50% of the total amount.

Negotiate with them until you reach an amount that they feel is enough to delete the account from your credit report.

It’s important that you get this agreement in writing. Have Asset Acceptance LLC send you the terms through U.S. Mail before you make any payments on the debt.

Once you receive this document and approve of the terms as written, submit your first payment to them.

It will take about one month after your first payment for the changes to take effect. Monitor your credit report to ensure that Asset Acceptance LLC deletes the account.

If they do not, reach back out to them and remind them of your agreement.

Hire a Professional

If you have a number of collection entries that you are trying to get removed, you might have more success by working with a credit repair professional.

Credit repair companies are credit professionals that specialize in cleaning up credit reports.

They use their industry expertise to remove a number of damaging entries from your report, such as bankruptcy and collection accounts.

They will negotiate and communicate with debt collectors on your behalf so that you don’t have to. You may not even have to deal with another call from Asset Acceptance LLC ever again.

If you are considering hiring a credit repair company to help you deal with Asset Acceptance LLC, check out our comparison list of the top companies.

This will help you compare top professionals so that you can choose the best one for you.

Ask Lex Law for Help

Does Asset Acceptance LLC Have Any Complaints?

It’s pretty common for debt collectors to have complaints with oversight bureaus, and Asset Acceptance LLC is no exception.

Since their founding, they have had 128 complaints filed with the Consumer Financial Protection Bureau (CFPB) and 7 complaints filed with the Better Business Bureau (BBB).

These complaints are mostly due to harassment from customer service representatives, failure to validate debts, and reporting inaccurate information to the credit bureaus.

No one wants to have a negative experience with a debt collector, but sometimes it’s out of your control.

The best thing you can do to stave off abuse from Asset Acceptance LLC is to familiarize yourself with the Fair Debt Collection Practices Act (FDCPA).

The FDCPA outlines what a debt collector can and cannot do when trying to collect payments on a debt. Asset Acceptance LLC may neglect your FDCPA rights under the assumption that you aren’t aware you have rights.

The best way to prevent this is to read up on what is and isn’t allowed under the FDCPA and let them know that you are aware of your rights.

If you still experience abuse from them, you can consider filing a complaint as well.


Dealing with debt collectors is a daunting affair, but it is possible to remove them from your credit report and regain control of your credit history.

Follow the steps outlined above, and you can get rid of Asset Acceptance LLC on your credit report once and for all.

We are always looking for new and better ways to deal with pesky debt collectors.

Prevent Loan Scams

About Prevent Loan Scams

Prevent Loan Scams provides guides, reviews & information to help consumers through every restorative step of their financial journey.

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