Re: Asset Acceptance / Arrow - Response

Posted by Additionally......Updates!! (138.26.42.210) on March 20, 2003 at 17:48:18:

In Reply to: Re: Asset Acceptance / Arrow - Response posted by scott on March 20, 2003 at 15:57:57:

I'm in Alabama. Could Asset remove their entry from my credit reports all together (if they wanted to)? They are telling me that they can NOT. Here's my problem, I need to work this out within the next few months. My plans are to try and purchase a home within the next 6 months or so.

They finally sent me the fax that I asked for and it didn't say at all what I asked. I wanted something stating that they purchased the account from Providian and if I paid the full amount of $XXXX that the acount would be paid in full and that upon receipt of my money order that they in turn would send me a paid in full letter and report payment on the CRs.

However, the letter I got is this "Per our phone conversation , we came upon a SETTLEMENT agreement of $2,000 to SETTLE the above mentioned account....upon receipt of said funds Asset Acceptance LLC will send you a paid account letter". In addition, the letter still doesn't say that they purchased the account from Providian like I asked.

Notice the word "SETTLE". I called a while ago and told him that this was NOT what I wanted and I WOULD NOT accept this. It's too vauge and gives them the right to report it on my CRs as a "settlement" when it's not. He kept telling me that I was trying too hard to see something that wasn't there. He says that they will only report it as being "paid" - he says that he can't give me anything but this in writing.

What do you do in these situations. I want to do the honest thing, but I want the right results. Why won't these stupid people just work with me? The mortgage person has told me that I have to clear the collection and I simply don't know how to do it. Should I tell him that I need to see proof that they purchased the account from Providian (I guess validation), but even if he can send that to me, what gives them the right to collect? Could there have been a clause in Providian's contract about them selling deliquent accounts?

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