Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jan 29, 2020

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The publicly traded Asset Acceptance Corporation is a junk debt buyer whose collection tactics have been deemed some of the worst in the nation. According to debt collection consumer advocate Bud Hibbs, Asset Acceptance Corporation “lies, steals, cheats, misrepresents, files bogus claims, creates phony documents and commits perjury in the court system just to increase their bottom line.” While these are bold statements, consumer comments posted on the site seem to agree that Asset Acceptance Corporation indeed subjects consumers to debt collection harassment.

Debt Collection Gone Wrong

While no one likes to become delinquent on their debts, it happens to millions of Americans every year. Debt collection companies attempt to collect that debt and often succeed in coming up with amicable solutions to consumers’ debt issues. However, debt collection companies known as junk debt buyers or zombie creditors – those who purchase uncollected debts at pennies on the dollar – often use scare tactics and harassment to collect debts from unsuspecting consumers. It’s what many consumer advocates call “debt collection gone wrong.”

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Debt Collection Consumer Advocate Bud Hibbs

Bud Hibbs, a debt collection consumer advocate and consultant for over 25 years who has written several books, is approved to teach CLE (Continuing Legal Education) courses through the State Bar of Texas and has appeared in numerous radio and television programs including The Oprah Winfrey Show, says that companies like Asset Acceptance Corporation, “purchase old portfolios of mostly worthless charged-off accounts for pennies on the dollar. Once owned, they appear to inflate the value of the portfolio, send out dunning notices and try to collect at a ridiculous profit.”

Consumer Comments

Hibbs’ website, lists comments from actual consumers who were duped by AAC. Here are some of those comments:

  • I was sued by these people in 2006 after making payment arrangements with them. I made arrangements to settle the account in November of 2005, but I requested everything in writing. Of course, that never happened. When I tried calling them to pay the debt, they came up with many reasons why they could not accept a payment. I kept calling and they kept refusing to talk to me. Why? No clue. They responded to my last phone call by serving me with papers!
  • This company has been calling me at all hours of the day and night. I tried at the beginning to deal with them because the debt they are trying to collect is not even mine, it belongs to my ex husband. My name was not even on this credit card even as an authorized user. The last person I actually talked to told me that if I didn’t pay the over $8K credit card bill that they were going to, 1) Repossess my vehicle, 2) Garnish my wages, 3) Freeze my credit – and the kicker was 4) Put a lien against my home. (I live in a rental!!)
When I tried to explain to them that the debt they were trying to collect belonged to my ex husband and that he had in fact filed bankruptcy that the debt was no longer owed. They obtained my name AND social security number from my ex husbands credit report. The agency could not explain to me why my information was showing on his credit report. Since my last conversation with them they have called me up to 5 times a day. The last time they left a very nasty message on my cell phone number. They have even called my work number 3-4 times a day.
  • Asset Acceptance used false “Affidavit of Service” to get the default judgment against me. They froze my multiple bank accounts. I am now dealing with them and fighting off in court.

If you’re being harassed by a junk debt buyer, contact an experienced debtor’s right attorney to discuss your situation. Consultations are free, without obligation and are strictly confidential.