Re: old debt-"Asset Acceptance"

Posted by Keyser Soze (205.188.209.12) on February 25, 2003 at 23:35:49:

In Reply to: Re: old debt-"Asset Acceptance" posted by Kmon on February 25, 2003 at 21:32:26:

Asset Acceptance is another company known for highly questionable practices. This company is owned by the Reitzel family of Wayne County, Michigan. Rufus "Bud" Reitzel is the founder of this company. He is frequently quoted in Credit & Collections Magazine and is nicknamed "The Dean of Bad Debt."
Mr. Reitzel's family is heavily involved in this business. The 'legal' director is one Dianne Kondrat. This company would mislead you into thinking that their legal director is a lawyer. As with so many other aspects of these collection agency carrion bird operators, it is all smoke and mirrors.
Mr. Reitzel spends quite a bit of time in the Lakeland, Florida area, near his 'new office' in Brandon, outside of Tampa. His lawyer at that office is Rodolfo Miro, about whom little can be discovered. Typical. Tedious. Mr. Reitzel has quite a few property holdings in central Florida, purchased with funds taken from his victims by the team of gibbons he employs.
Public records indicate not one but two lovely properties in Grosse Pointe, Michigan, no less, owned by one Rufus Bud Reitzel. Exploitation of the misery of others pays well apparently. After all, these collectors pay what, a whopping one percent of the original amount owed and by this example frequently pull every trick in the beelzebook to obtain several times the original amount? Nice people.
Mr. Reitzel is quoted on his website as saying that this business of bullying debtors into submission is 'fascinating'. Given the level of his prosperity, one would indeed have to agree.
Another neat trick of late, filing time barred suits on out of statute debt. Also, that old standby, 'running the statute', something about which the FTC always needs to be apprised.
"Running the Statute' means that Asset Acceptance will get together with the CRA's to advance your date of last activity and/or chargeoff dates. They seem to do this perhaps for spite in cases where they file actions only to have them dismissed. This allows them the opportunity to bring the case again in the future when the original - and legal - date would forbid such action. They hope you don't notice. Their hopes are in vain.
Mr. Reitzel's 'fascinating business' is proving to many to be more tiresome than anything, thanks to the internet ever greater amounts of light are shining on these cockroach enterprises. Good riddance to bad cess.

Keyser Soze

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