Asset Acceptance Letters on OOS debt

[CG in TX]

I received two letters yesterday from Asset Acceptance. Both were settlement offers on old Providian Bank cards that are at least 14 years from DOFD. Asset Acceptance was subject to a FTC settlement in January 2012 that requires them to disclose that a debt is time-barred if in fact it is. There is no such disclosure in these letters.

 

My question is this: Is there a right to private action against Asset Acceptance for a violation of the FTC settlement?

 

Here is the link to the settlement:

 

http://www.ftc.gov/opa/2012/01/asset.shtm

[CG in TX]

Bump

[claytp]

This is a good question. I hate these people!

 

Can you file a complaint with the FTC? I'm dealing with these myself

[ICANHASMUNY?]

I received two letters yesterday from Asset Acceptance. Both were settlement offers on old Providian Bank cards that are at least 14 years from DOFD. Asset Acceptance was subject to a FTC settlement in January 2012 that requires them to disclose that a debt is time-barred if in fact it is. There is no such disclosure in these letters.

 

My question is this: Is there a right to private action against Asset Acceptance for a violation of the FTC settlement?

 

Here is the link to the settlement:

 

http://www.ftc.gov/opa/2012/01/asset.shtm

 

 

here's the actual consent order.

 

http://www.ftc.gov/os/caselist/0523133/120131assetconsent.pdf

 

there's case law floating about that settlement offers are not demand for payments which trigger the FDCPA, but the FTC consent order is fairly clear about all this

 

page 4 --- 5. "Debt collection" means any activity the principal purpose of which is to collect, or attempt to collect, directly or indirectly, debts owed, or asserted to be owed, or due.

 

 

page 13/

 

D. As required by Parts IV.A, B, and C, above, Defendant shall make the following disclosure(s), clearly and prominently, as applicable:

 

2. When collecting on debt where the debt is passed the date for obsolescence provided for in Section 605 (a) of the Fair Credit Reporting Act, 15 U.S.C. § 1681c:

 

The law limits how long you can be sued on a debt. Because of the age of your debt, we will not sue you for it, and we will not report it to any credit reporting agency.

 

 

E. Defendant shall not make any representation or statement, or take any other action that interferes with, detracts from, contradicts, or otherwise undermines the disclosures required in Part IV.D, above.

 

 

 

you do know that AA was just bought out by Midland funding?

 

the consent order still applies.

[claytp]

I did not know they were bought! I wonder if this means they will change their ways? Probably not!.

 

Bump also

[CG in TX]

I think I'll try an ITS letter, referencing the fact that they have violated the consent order, and see what happens. Who knows, maybe they'll send me a check...

[iH8cra]

I'll just add that Asset Acceptance is the debil.

[ICANHASMUNY?]

I think I'll try an ITS letter, referencing the fact that they have violated the consent order, and see what happens. Who knows, maybe they'll send me a check...

send the complaint to the FTC

[bware2010]

 

send the complaint to the FTC

Copy the complaint to your state AG. Seems they are continuing their deceptive practices.