Asset Acceptance Corp is a leading collecting agency that is located in Warren, MI. This third party collection agency has been in business since 1962 and has 1400 associates and 10 offices that are spread across 9 States. Their business modus operandi goes like this.
First of all they purchase charge offs from creditors at the lowest price possible. Next Asset Acceptance Corp will locate the debtors and inform them that they no longer owe any money to their
original creditor and all monetary transactions will be henceforth conducted exclusively between the debtor in question and Asset Acceptance Corp.
The twist in this situation is that Asset Acceptance Corp has to regain its cost price of the charge off and also
make substantial amount of profit from this entire transaction. Who else will bear the brunt of the extra charges other thanthe hapless debtor? The entire process of squeezing the outstanding debt and the extra charges from the debtor is quite turbulent.
Almost all of the third party debt collection agencies endorse the ‘by hook or crook’ method. No wonder that debtors are harassed with threatening phone calls, rude letters, scare tactics, emotional blackmail etc and made to believe about impending lawsuits on failing to pay up. All such methods utilized to collect outstanding debts from debtors are branded as illegal and non-permissible by Federal law. Little surprise that majority of these debt collection agencies have come under the scanner after lawsuits being filed against them by harassed debtors.
Debtors who land in this situation where they are being called repeatedly, sometimes event 3 or 4 times in a day and abused or threatened to pay up even when they have no means of doing so have many a times been forced to take extreme steps like attempting or committing suicide. That’s the most terrible outcome of having to deal with such pesky debt collection agencies.
Well, there would actually be no need to put up with all this heartburn if debtors could seek professional assistance in dealing with such collection agencies. Credit repair agencies are not only skilled at freeing debtors from the trap laid by the collection agencies but can also repair their battered credit reports with all 3 bureaus.
The Lexington Law Firm is one such credit repair agency that has helped over half a million debtors in getting their credit reports straight. Based in Salt Lake City, UT, the Lexington Law Firm executives focus on swiftly disputing all of the negative entries with all 3 bureaus and thus successfully get such entries removed and the debtor’s score gradually rises from the base level upwards.