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Asset Acceptance

Asset Acceptance review: Scam and cheating 8

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12:46 pm EST
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Please help! My wages are being garnished but they are saying that they have contacted me but I can't remember. I tried making payment arrangements but was told only if I paid $745 but with what they are taking out of my check there is no way I can make that payment I asked if there was any other way they said call my payroll department to ask for an advance. Then they were basically to bad so sad.

I can't pay my rent and car note now.

I asked them if there was anyway I could pay on this account without having it go through my payroll and the legal department as AA said only if I pay it off.


The complaint has been investigated and resolved to the customer’s satisfaction.

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, US
Dec 04, 2008 12:37 pm EST

Out of nowhere my husband was served with a Complaint from Asset Acceptance. They were suing him in a local court for a debt for which he had no knowledge. We relocated from PA 3 years ago to Nevada temporarily. We had never opened any credit cards or loans in the state of Nevada. I am assuming that this alleged debt was an old PA account. I checked the company (Asset Acceptance) online and found hundreds of complaints. These guys are real ###.

I answered the complaint (using forms found on the net) and filed them with the courthouse. I sent copies to the 'Attorneys' at the above address. The information included a formal 8 page document requesting verification of the debt before I would communicate further.

Now I just received another letter from the attorney's, stating that their client does not want to cause further 'hardship and expense' to either of us and they would like him to contact them so that there may be an amicable solution to the matter! What part of 'please verify the alleged debt' don't they understand? This last time in writing I told them that I would no longer communicate with them under the Fair Debt Collection Practices Act until they verify the debt.

The reason that I even started working with these clowns is that I had read on here that they can garnish my husbands salary. It may be legal to do that in Nevada but if this alleged debt was contracted in another state which does not allow wage garnishment, which state takes precedence?

These guys are nightmares preying on people through intimidation and the courts. Report them to all the agencies possible.

Tomball, US
Mar 01, 2011 10:39 pm EST
Verified customer This comment was posted by a verified customer. Learn more

The real scam is congress passing legislation enacting collection laws for crooks like assetacceptance. Assetacceptance is a criminal activity with congressman in their pockets; the collection process is two mafia bosses buying old notes for diddly and getting reimbursed by hounding someone out of thousands. It's a legal business, folks. Now you know where the money laundering crews put up their tents and went into business. Here's a for instance: my wife owed B of A 3, 000. We didn't have it. 6 years later the statute of limitations to collect ran out. Asset buys the note for about 20 bucks and wants the 3, 000 in return. Not a bad scam. You try buying a car and selling it to a sucker for 3, 000. But they can't collect from us legally; only if we are stupid enough to pay them. If you pay these idiots, they pocket the money, pay commissions to the greaseball that called you, and go to Tahiti with the rest. All the while you suck on dirt clods.

Madashell in Michigan
Inkster , US
Feb 17, 2010 7:27 pm EST

You are absolutely right. I received a court summons from a case from 1996 that they sent to an address from 1996. My credit report and everything else has the correct address they purposely send judgements to old addresses in an attempt to get a default judgement. Once they do that they can offset your income taxes, garnish your wages and your bank accounts. My suggestion to you is to go to the court that filed the motion. Fill out a form objecting to the garnishment and a form to request an installment plan. Theres a nominal fee for the payment plan, check with the court before you go. If you have a free debt credit counseling agency in your city go have them fill out a free budget for you listing every bill that you are responsible for. When you go to court show the judge that and explain your hardship and most often you will get a payment arrangement. They may even make them give back any wage assignment wrongfully taken. The sad thing is that this same company has offered settlements of 40% off the cost of debts but they want you to have a lump sum. This equates to roberry. If it is not illegal at best it is unethical and someone should file a class action suit against them and their methods. There also should be laws in every state forbidding these strong arm tactics. If any lawyers are out there you could get rich going to bat for all the people this company has done wrong.

Asset Acceptance Victim
Dallas, US
Jan 27, 2010 7:05 pm EST

I would like to get with other victims of Asset Acceptance Asset and sue them!

Here is my story: it is 2010 and Asset Acceptance LLC has just stolen $5000 from my bank account. They claim it is from an old $900. visa from 1995. They severed someone with my last name in an other state. That person discarded the summons and Asset Acceptance automatically got a default judgment against me. They then used a Domestic Interstate Transference to transfer the judgment to the state of my residence and take the money plus 15years worth of interest from my account. They are cowards and crooks and they purposely sneak cases through courts without giving you the chance to fight it. Asset Acceptance knows that the only way to win is by default. You often need a lawyer to fight them which is so costly that most people just "give in to them".

I have learned that they constantly troll these blogs because they DO NOT want us to know about each other and they especially do not want us talking to one another. If you see any comments that support their tactics I can guarantee you it is just one of there "employee ### plants"

Organizing together is the key (just "Google" their name and you can see that they MUST be stopped)

I have no legal expertise I am just a another victim who is determined to stop them...I have created an email address just for this fight so feel free to write me at

Victims and Lawyers interested in representing a Class Action case against Asset Acceptance are always welcome to email me.
Sincerely Victim X.

Addison, US
Aug 20, 2009 3:36 pm EDT

This company if maddening to deal with! !

I spent several hours on the phone this morning attempting to request documentation for a supposed debt they say I owe. While they want me to pay the debt, they are unable or unwilling to provide documentation to substantiate what the supposed charges are for. One woman in their Transferring Department could only tell me 'she thought the debt was valid and I should pay it to get it off my Credit Report'. She said I would have to go back to the original company who issued the credit card to get the back-up I wanted. Then when I asked her name, she hung up. I would not pay anything based on a 'letter' unless there's documentation.

When I called the original company who issued the credit card, they stated that the account had been sold and all account information, including charge and payment history, is now held by Asset Acceptance.

Several more calls to Asset Acceptance sent me on a wild goose chase. I thought I was getting somewhere when someone said they were transferring me to their Compliance Department. I got on a recorded continuous loop that does not allow you to talk to a live person no matter what option you choose - believe me - I chose them all! I reached the "After Hours Mailbox for the Compliance Department" at 11:20 a.m. CST and then again several more times during the day. They are in Michigan, so what are their hours? All options leave YOU doing all the work - sending a letter to them so they can get back to you. This is a Catch 22.

Make sure you document every single phone conversation. They are not about to provide info, but they expect you to pay up . Beware! I am writing a letter to them and my State's Attorney's Office, the Department of Consumer Affairs and the FTC.

Tacoma, US
Apr 30, 2009 4:00 pm EDT

No wonder I havent been able to get ahold of anybody in the compliance department. Or as I would assume, they are avoiding my calls as successfully as I had avoided theirs for so long. Now that the tables have turned, I wonder what its going to take to get them to comply. Hiring an attorney might be the next logical step, but I'm going to continue to try and work towards some sort of resolution for the next couple weeks and see what happens. Thanks for the names though, that should make for some fun...

, US
Mar 29, 2009 7:31 pm EDT

I am a former employee of Asset Acceptance. I don't know if this will help you out, but on April 1, AA is set to lay off around a dozen employees in the Compliance/Legal department. Many of them are expected to be workers in the Quality Assurance Department. In other words, these are the very SAME people who are supposed to be monitoring the collectors so that they will not continue to violate your rights!
Also, you should all know that people in the QA department have REPEATEDLY complained that their reports against offending collectors have gone unanswered! In other words, the QA folks say, "Here are the violations we found!" and the supervisors and various powers that be basically say, "We can't hear you!"

, US
Mar 29, 2009 7:30 pm EDT

This is the Asset Acceptance managerial hierarchy as of March 26, 2009. This information was sent to all associates of the company on this date by CEO Rion Needs via email. These names are being mentioned for informational purposes only.

Rion Needs President/CEO

Mark Redman Senior Vico Pres./CFO
Sharon Koenig Vice Pres and Controller
Jeff Bankowski Director Business Planning and Financial Analysis
Karen Dumas Director and Assistant Controller
Kathy Rodes Director Tax
Jeff Reese Director Internal Audit

Ambrish Sundaram Vice Pres Information Services
Jennifer Allen Director Applications Support
Shravan Kotha Director Data and Information Services
Jay Shell Director Infranstructure Services
Subra Sundaramurthy Director Strategy, Planning, Governance and Support

Darin Herring Vice Pres Legal
Bryan Jeffrey Director Legal Collections
Mike Beach Director Legal
Lynmarie Glowski Director Legal Support
Shawn Thomas Director Business Transformation

Phil Allen Vice Pres Collections
Dan Chapman Director Collections Strategy
Pat Dangel Director Collections
Chuck Hilson Director Collections
Greg Schlaff Director Medical Collections
Thom Whitten Director Collections

Deanna Hatmaker Vice Pres Human Resources
Tammy Hanton Director Human Resources
Moira Morgan Director Training and Development

Edwin Herbert Vice Pres General Counsel
Ken Proctor Director Compliance
Rob Horowitz Director Litigation Counsel

Deborah Everly Senior Vice Pres CAO
Jim Reitzel Direct Marketing
Scott Johnston Director Marketing and Acquisitions
Ken Frazier Director Marketing and Acquisitions

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