One common reason that consumers often turn down an Asset Acceptance settlement offer is they feel Asset Acceptance overcharged them in the first place by adding excessive interest or collection fees.
After all, this creditor was not the original lender, but rather is a debt buyer that purchased the account after the consumer defaulted in payment.
However, if an Asset Acceptance lawsuit is filed against you in court, failure to respond will likely result in the court awarding Asset Acceptance default judgment against you in an even higher amount.
Entry of a money judgment against you will also complicate the goal of obtaining an affordable settlement.
Be proactive! Send us your Asset Acceptance debt collection documents and let us tell you if it looks like an unlawful collection notice.
We can help you seek a resolution of your debts for less than the amount owed, and less than the amount collectible from you if a judgment is entered in court.
If the judgment creditor locates your assets, they may have very little incentive to offer you a discount of any kind.
After serving a wage garnishment, Asset Acceptance can sit back and wait to collect the full judgment balance from you, plus interest that accrues during the garnishment period. The New York City Marshal will also add his poundage, which gets debited from your paycheck in addition to the judgment amount.
If Asset Acceptance restrained bank account funds belonging to a judgment debtor, they are able to send the NYC Marshal to withdraw the money and turn it over to the creditor.
An unpaid judgment remains collectible in New York for a period of 20 years, and continues to accrue interest at 9% during that time.
Don’t be afraid to face your debt head on. Our Asset Acceptance defense firm is ready to provide you with a free legal consultation regarding how to protect your rights. Please contact us for a free case review.