|
|
old debt-"Asset Acceptance"
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by Kmon
(204.39.211.196) on February 25, 2003 at 20:05:46:
About 8-9 years ago I went into deliquency with and made no further payments to Discover card. About 5 years ago I recieved a letter from Asset Acceptance Corp. telling me that they were attempting to collect a debt and that I owed them about 1800.00. I began making payments to them of 100.00 however each month the balance would go up, I contacted the rep. and he blew me off saying that I had no right to question such an old account. Discouraged, I decided that I would continue payments (fearing court) of 5.00 per month. Now the debt is at about 3500.00. I called and asked if it would be possible to arrange for a better scenario and this is what I was told would happen: my debt would revert to the original 1800.00 less the 700.00 in applied payments leaving me with a balance of 1100.00, the only stipulation for me was to increase my payment from 5-15. I figured sure, that sounds great. This month I recieved a 'statement' that still reflected 3500.00 plus the accrued intrest. When I called to question the statement I was told that my agreement was still in effect and that they were making note of my payments, but that I would still recieve the other statement because that was the only way that they were able to do this. I told him that I had no problem with the arrangement, however I simply wanted a statement verrifying what we had agreed upon: the rep said "why would we bend over backward for 15.00, now if you showed us more commitment." We went back and forth for a little while until he had verbally hit me in every corner. My question is this, even though the debt has been purchased by a seperate company and I have made payments since my delinquency and charge off with Discover am I still covered by the SOL for Michigan (6yrs) or did it start fresh with the purchase of the account by AAC? Do they have any legal grounds at this point? Also I did hope to pay this debt, but without a statement reflecting my progress, I am worried that when I have paid them 1800.00 they will just say sure you paid that but you still owe xxx. Any suggestions????
Follow Ups:
Post a Followup
|
