In 2003, I defaulted on a credit card with Chase Bank. Earlier this year, they charged off the debt and sold it to Asset Acceptance LLC. I ignored them, never called back, never wrote back for months. In June of this year, I received paperwork from them, stating they had field suit in civil court against me. I had done a lot of research, and stumbled upon the Statute of Limitations regarding Credit Card debt. In my state of Virginia, the SOL is 3 years for CC's. Apparently, they filed suit a week or two before the SOL expired, so it looks as though that won't work for me. In the paperwork they sent me, they openly admit that the original note/contract was either "destroyed" or had been lost.

On June 25th, I showed up to the pre-trial hearing. When I approached, the judge asked me "Are you disputing that you owe this money?". I said yes. The judge proceeded to discuss when would be a good date for the trial to begin, and wasn't really going to give me a chance to speak. He seemed to be in a hurry. I respectfully interjected and said “Your Honor, I’d like to ask that this case be dismissed.” The Asset lawyer rolled his eyes and looked irritated, and the judged looked at me kind’ve shocked. He said “On what grounds?” I said “Well, I believe the Statute of Limitations may have expired on this account.” He said “Please explain.” I said “My last payment was sometime around May in 2003, and it’s now June of 2009. The Statute of Limitations in Virginia is 3 years for Open Accounts.” The judge looked at the lawyer and asked what he had to say to that. The lawyer pulled out some paperwork and showed the judge and said that they had filed suit in April, and therefore he was under the belief that they had beat the clock. The judge told me “The Statute of Limitations would be a valid defense, but you’d need to bring that up in the court hearing. Based on what you’ve told me, I’m not willing to dismiss the case. However, they (Asset) have to show payment records to prove that this account is, in fact, not past the Statute of Limitations (and then he smirked and said), which they MAY or MAY NOT be able to do.” At that point I asked him to dismiss based on the grounds that I did not believe they had any evidence to prove I owed them anything. I told him that I had no business relationship with them, I had not contract with them, and I had proof, in writing from Asset that they do not own the original note or contract. He told me that that also would be a valid defense, but would be something I’d need to bring up in the actual trial, and not worthy of him dismissing.

I have until August 7th to file my defense and send it to the court and to Asset’s lawyers. I keep hoping every day that they will call or write me saying they’re dropping the case. I really figured they just thought I wouldn’t show, and would hope for a default judgment, and when they found out I was going to put up a fight, they’d back off. I can’t afford a lawyer, and don’t know what to do. I’d love any advice you guys have to give.

Thanks!

~Kevin

I had all but forgotten about Asset Acceptance… During the time period from approximately 2007-2009, they began claiming that I owed them $1, 500+ for a "loan" from National City Bank. The only reason I knew they were claiming this was because a "Mr. Abrahamson" called my parents house repeatedly trying to collect the money. I moved out of my parents house in 1999 when I was 17 yrs old and have never used their address or phone number for any financial transactions. Also, I've never taken out a loan in my life. The only connection I've ever even had with National City Bank (now PNC) was a checking account that I closed in 2002 and I did not have any outstanding checks or transactions and owed them nothing. My mother, who answered the phone when they called HER house looking for me, was going to just pay them (yes, I know not very smart of her to do without even checking with me first). She even got her purse and was ready to give them her credit card information, but lo and behold, they would not accept a credit card payment. They insisted that it could only be paid with an electronic debit from her bank account or with a debit card. At that point she finally got suspicious and told them she was going to have to talk to me first. She even gave them my correct address and phone number so they could contact me directly (which they never did). She then called me to ask about the situation. I told her that I knew nothing about this "loan" they were referring to. I told her that the fact that they would only take a debit or EFT was suspicious to me. It sounded like a scam to either get her bank information or to just get the money without her having the same protections you get when you pay for something with a credit card? They continued to harass her for two years (saying they were with the *** county District Attorney's office, among other things). Finally my Dad talked to them and sent a letter from his attorney ordering them to stop calling their phone.

Neither I nor my parents had heard anything from them since…until today. I got a letter in the mail from Michigan Department of Treasury Unclaimed Property Division saying that they may have some money that is owed to me. The letter directed me to the State's website where you can search for money that has been turned in to them that is owed to you. So, I went to the site (Michigan.gov address so it is a legit site) and there were three entries for me. One of which is Asset Acceptance LLC. This makes no sense—I never have given them a dime (nor has anyone on my behalf), so why would they turn money over to the State that belonged to me. None of the three companies that came up in the search results specified an amount. I am afraid to pursue getting my money now because I'm wondering if this is some new scam (I.e. turn in a small amount of money that they "owe" you and then if you claim it, either that somehow acknowledges that you had a debt with them at some point, or possibly once you try to claim it, they say it was an "error" and then try to charge you a ridiculous amount of fees+interest to pay them back). Is that just being overly paranoid? After my prior experience with Asset Acceptance and from reading these message boards, I wouldn't put anything past them.

Does anyone have any thoughts on this?