Asset Acceptance Capital Corp., LLC (AACC) is a third-party collection agency based in Michigan. AACC has received consumer complaints alleging violations of the Fair Debt Collections Practices Act (FDCPA) such as failing to verify debts and attempting to collect debts not owed. If you have been contacted by AACC, understand your rights before taking action.
The harassing company pays our fees.
They’re legit. According to the Better Business Bureau (BBB), Asset Acceptance Capital Corp., LLC is a legitimate collection agency initially founded and incorporated in 1962. The BBB opened its file on AACC in 1994. AACC is listed as a collection agency, financial planning consultant, and credit service. The BBB lists 10 alternate phone numbers for AACC and 12 alternate business names, including AAC; Asset & Lee Acceptance; Asset Acceptance; Asset Acceptance Capital Corp.; Asset Acceptance Corp.; FCC; Financial Credit, LLC; Lee Acceptance Corporation; RX Acquisitions; and Asset Acceptance, LLC (AALLC).
According to its website, AACC provides “credit originators such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt.” Originally formed as Lee Acceptance Company in 1962, a 2002 merger with Asset Acceptance, LLC and relocation of its headquarters resulted in the founding of AACC in 2003.
In July 2013, AACC was purchased by Encore Capital Group, Inc. and now operates as a wholly owned subsidiary. Encore Capital Group and Midland Credit Management have recently been involved in litigation with the federal government and the state governments of New York and Colorado. Both Encore Capital Group and Midland Credit Management, another subsidiary of Encore Capital Group, were implicated in charges of illegal collection activity, including attempts to collect default judgements of time-barred delinquencies; using false statements and misrepresentation to collect invalid debts; and knowingly presenting falsified evidence at hearings.
The Financial Literacy tab of AACC’s website provides links to the MyMoney.gov website; the Jump Start Coalition for Personal Financial Literacy; and various credit-related pages on the Federal Trade Commission (FTC) website. It also contains the disclaimer, “Please understand this communication is from a debt collector. This is an attempt to collect a debt. Any information obtained will be used for that purpose.” However, there is no mention of the specific rights and responsibilities of consumers or collection agencies.
Who are we? We are Lemberg Law, a Consumer Law Firm
Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We are ranked A+ by the BBB. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors. Harassed? Abused? Misled by a collector? Call our Helpline today! There is no charge unless we win.
The BBB has closed 85 complaints against AACC in the past three years, with only 2 in the past 12 months. A search for Asset Acceptance Capital Corp in the Consumer Financial Protection Bureau (CFPB) consumer complaint database indicates that since March 2015, the CFPB has received 109 complaints, all of them attributed to Encore Capital Group. Justia lists at least 5 cases of civil litigation naming AACC as a defendant.
Asset Acceptance Capital Corp., LLC
P.O. Box 2036
Warren, MI 48090-2036
Telephone: (800) 545-9931
It is illegal for a debt collector to make empty threats to sue you or garnish your wages. It is also unlikely AACC would sue you for a debt you may not owe or they cannot validate. However, debt collection agencies are known to have summoned debtors to court and garnish wages after a default judgement. Contacting an attorney BEFORE this could possibly happen would be a smart move. We’ve helped thousands of consumers fight back against unscrupulous debt collection harassers. Find out if we can help you too today!
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Absolutely. Here are some Sample Cases
In August 2013, in United States District Court for the District of New Jersey, a judge issued an Opinion in a case seeking to certify a class of consumers in preparation of a class action lawsuit against AACC for alleged violation of the FDCPA. In the original case, the plaintiff alleged that Asset Acceptance Capital Corp violated FDCPA Sections 1692e(10) and e(14) which require a collection agency to “meaningfully disclose its identity to the recipient of…telephone call[s]”; and prohibits the use of “deceptive means to collect a debt…[including] the use of any business, company or organization name other than the true name of the debt collector’s business.”
Beginning in January 2005, AACC began efforts to collect a debt from a Sprint account that had expired in October 2003. The Plaintiff first spoke with AACC representatives in February 2011, and he informed AACC that he was unaware of the debt. Regardless, AACC continued to pursue its collection efforts, and on at least one occasion, AACC’s automated caller id system identified itself as Warranty Services rather than Asset Acceptance. During the trial, evidence was presented by AACC’s telephone technician contactor about the specifics of how caller id technology works to determine whether there was any negligence on the part of AACC with regard to misleading caller identification. The plaintiff also submitted testimony that despite arguments that AACC’s misrepresentation was unintentional, there was abundant evidence that that the lapses that did occur should result in liability for the violations.
Regardless of the liability of AACC for violations of the FDCPA against the individual plaintiff in this case, the decision at this hearing was about whether the plaintiff could legitimately certify the case a class action lawsuit. Class actions must pass four tests prior to certification: numerosity, typicality, commonality, and fairness of representation. The plaintiff identified the class as “[a]ll New Jersey consumers who, between October 7, 2010 and August 23, 2011, Asset Acceptance, LLC called using the telephone number” designated in the court record. Unfortunately, the court found that the plaintiff provided “no feasible method of ascertaining members of the class” that broad, and thus was unable to certify the class. Although not required, the judge in this case issued an analysis of all four points to ensure thoroughness for the record.
Federal laws protect you. The Fair Debt Collections Practices Act (FDCPA) regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt. The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).
But here’s the rub: If you want to enforce your rights, or recover money for violations — you need to sue. These laws provide individuals like you with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.
You may have a case, if…
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Sergei Lemberg is an attorney focusing on consumer law, class actions related to automotive issues, and personal injury litigation. With nearly two decades of experience, his areas of practice include Lemon Law (vehicle defects), Debt Collection Harassment, TCPA (illegal robocalls and texts), Fair Credit Reporting Act, Overtime claims, Personal Injury cases, and Class Actions. He has consistently been recognized as the nation's "most active consumer attorney." In 2020, Mr. Lemberg represented Noah Duguid before the United States Supreme Court in the landmark case Duguid v. Facebook. He is also the author of "Defanging Debt Collectors," a guide that empowers consumers to fight back against debt collectors and prevail, as well as "Lemon Law 101: The Laws That Lemon Dealers Don't Want You to Know."
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They are still trolling me online for something that is falling off of my credit report over 7 years ago