When consumers become unable to return the debts they owe, the creditor may adopt one of two conducts in order to recover the debts.
Sometimes they charge-off the debts and give it to the collection agencies whereas in other cases they might take consumer in the court to get a judgment against the debts he or she owes.
Asset Acceptance Capital Corp (AACC) is a collection agency that buys charged-off debts from creditors and then initiates to collect them.
Asset Acceptance Capital Corp is working since 1962, to help creditors to recover the unpaid debts collection.
Whenever you encounter AACC on your credit report, it is a serious matter because it would not only add negative marks into your credit history but would also derail your credit worthiness.
It would become difficult for you to maintain your credit score and your credit score would keep on moving down.
If you want to erase AACC collections from your credit report, the first thing you need to judge is the legitimacy of the collections.
Identify the ownership of debts.
If you are not sure that you own debts then ask for validation.
At this point AACC would share information with your original creditor and would come out with the legitimate proofs that you owe the debts otherwise you have the rights to dispute the debt.
Another thing you should focus on is the duration of SOL.
If you come across with collection agency after the expiration of SOL according to your state then you should urge them not to contact you as you are well aware of the matter and would deal it yourself.
If collection agency comes after the period of seven years then you might put them in troubles because you hold the authority to take them in court for contacting you.
Credit bureaus will erase the collections that age more than seven years in response to the Fair Credit Reporting Act.
For any further assistance you could browse online websites and blogs or come in touch with some good credit repair firm.
Sometimes they charge-off the debts and give it to the collection agencies whereas in other cases they might take consumer in the court to get a judgment against the debts he or she owes.
Asset Acceptance Capital Corp (AACC) is a collection agency that buys charged-off debts from creditors and then initiates to collect them.
Asset Acceptance Capital Corp is working since 1962, to help creditors to recover the unpaid debts collection.
Whenever you encounter AACC on your credit report, it is a serious matter because it would not only add negative marks into your credit history but would also derail your credit worthiness.
It would become difficult for you to maintain your credit score and your credit score would keep on moving down.
If you want to erase AACC collections from your credit report, the first thing you need to judge is the legitimacy of the collections.
Identify the ownership of debts.
If you are not sure that you own debts then ask for validation.
At this point AACC would share information with your original creditor and would come out with the legitimate proofs that you owe the debts otherwise you have the rights to dispute the debt.
Another thing you should focus on is the duration of SOL.
If you come across with collection agency after the expiration of SOL according to your state then you should urge them not to contact you as you are well aware of the matter and would deal it yourself.
If collection agency comes after the period of seven years then you might put them in troubles because you hold the authority to take them in court for contacting you.
Credit bureaus will erase the collections that age more than seven years in response to the Fair Credit Reporting Act.
For any further assistance you could browse online websites and blogs or come in touch with some good credit repair firm.
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