Sued by Asset Acceptance LLC? We'll Negotiate to Reduce What You Owe
Asset Acceptance LLC is a debt buyer that purchases defaulted consumer debts and pursues collection through lawsuits and other means. Asset Acceptance was acquired by Encore Capital Group and has been involved in significant regulatory actions. The FTC obtained a $2.5 million settlement against Asset Acceptance for making false statements in debt collection and failing to disclose that debts were time-barred.
Type
Debt Buyer
Parent Company
Encore Capital Group
Common Debt Types
credit card, medical, personal loan
Common FDCPA Violations by Asset Acceptance LLC
Collecting on time-barred debts without disclosing the statute of limitations had expired
Making false statements about the legal status of debts
Filing lawsuits with fabricated or insufficient documentation
Threatening legal action on debts they could not legally enforce
Failing to properly investigate and respond to consumer disputes
Your Situation With Asset Acceptance LLC
If Asset Acceptance LLC Has Not Sued You Yet
You have more leverage. Act now — this is the best time to negotiate.
- Pre-suit negotiations typically get better settlements
- If you are within 30 days of first contact, we send a debt validation letter
- Statute of limitations may bar the debt entirely
If Asset Acceptance LLC Has Already Filed a Lawsuit
Do not wait. The collector expects 70-80%, but we still push for less.
- You typically have a 30-day response deadline
- Missing the deadline can result in a default judgment
- Attorney negotiation still reduces the amount significantly
How We Handle Asset Acceptance LLC Cases
- Free case review. Tell us about the debt and whether you have been sued. We check the statute of limitations, screen for FDCPA violations, and determine if debt validation applies — at no cost.
- Debt validation (if applicable). If you are within 30 days of Asset Acceptance LLC's first contact, we send a debt validation letter via certified mail. This forces them to pause collection and prove the debt is valid.
- We evaluate your defenses. Common defenses against Asset Acceptance LLC include statute of limitations, lack of standing (they cannot prove they own your debt), incorrect amount, and FDCPA violations.
- Our attorney negotiates directly with Asset Acceptance LLC. We contact the collector, present your financial hardship, and negotiate a reduced settlement. We start at 40-50% and push for the lowest amount possible.
- Written settlement agreement. We get everything in writing before you pay — exact amount, payment deadline, dismissal with prejudice (if sued), and full release of claims.
- FDCPA counterclaim if applicable. If Asset Acceptance LLC broke the law, our attorney can countersue at no cost to you — the collector pays.
Your Rights When Sued by Asset Acceptance LLC
Right to demand proof they own the debt
Right to dispute the amount claimed
Right to raise statute of limitations defense
Right to countersue for FDCPA violations
Sued by Asset Acceptance LLC in Your State?
Frequently Asked Questions About Asset Acceptance LLC
Who is Asset Acceptance LLC?
Asset Acceptance is a debt buyer now owned by Encore Capital Group. They purchase defaulted consumer debts and attempt to collect the full balance.
Has Asset Acceptance been in trouble?
Yes. The FTC obtained a $2.5 million settlement against Asset Acceptance for making false statements in debt collection and collecting on time-barred debts without proper disclosure.
Is my debt too old for Asset Acceptance to collect?
It may be. Check your state's statute of limitations for the type of debt. If it has expired, you have a strong defense — but you must raise it in your Answer.
Can I sue Asset Acceptance?
If Asset Acceptance violated the FDCPA, you can sue for statutory damages up to $1,000, actual damages, and attorney fees. Common violations include collecting on time-barred debts and making false statements.
Reviewed by Ariella, Esq. This information is for educational purposes and does not constitute legal advice.
Get Your Free Asset Acceptance LLC Case Review
Our attorney negotiates directly with Asset Acceptance LLC to reduce what you owe. Free consultation — no obligation.
Free case review. No obligation. No upfront cost.