Asset Acceptance Pays Nearly 3 Cents Per Dollar to Control $2 Billion in Consumer Debt

– Posted in: consumer news

Asset Acceptance Capital Corp. (NASDAQ: AACC), the parent company of the increasingly familiar “Asset Acceptance, LLC,” is a publicly-traded junk debt buyer located in Warren, Michigan.  Through its predecessors, it has been in existence in one form or another since 1962.  Asset Acceptance is one of the few debt collection agencies where ownership can be [...]

Debt Collectors Reported Most by Consumers, FTC Says

– Posted in: consumer news
FTC Sues Asset Acceptance for Stale Debt Deceptions

For the last known year, 2010 was the worst year for consumers dealing with debt collection agencies.  According to the Federal Trade Commission (FTC), complaints about debt collectors are up 25% since 2008.  There were about 104,000 complaints in 2008 and about 140,000 in 2010.  All the while, debt collectors are aggressively lobbying Congress to [...]