19 August 2008, 4:36 pm
I just tried to negotiate a lump sum with Asset Acceptance with an old debt (2000 or 2001). I thought it would have fallen off by now but they continue to sell the debt to other companies and the other companies bring it back to Asset Acceptance. They did not agree to my terms. I was told by a non-profit agency that I could send in a payment and that 20% of the time, they would accept it, especially because of today's economy. The debt collector refused to give me the address, and was extremely hostile. (I found it on Wikipedia: Assets Acceptance LLC is located @ 28405 Van Dyke Avenue, Warren, MI., 48093). I know that in sending a lump sum, I must write the following on the back of the check: "Endorsement of this check constitutes P.I.F. of Account number _____. Letter of Deletion to be issued." Should I try it? I am concerned that they won't take it and will start harassing me. This debt did not show up on my last credit report but I don't want it to continue to pop up as it has, especially now that my credit is good and I've repaired it. If anyone can tell me if they tried this strategy, that would be great! Thanks. I read the link but I understand my above tactic to be one that many use... If the creditor accepts the check, they are legally bound to the terms. Of course, I keep copies of the check and the letter, that I am to send the letter certified mail with delivery confirmation. The company usually will not provide a letter of deletion; but then I will call transunion and the other agencies, and provide them with the copies of the check and they must take it off (as long as the company has cashed the check).... read more
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