Asset Acceptance in Kentucky

[flyersgirl65]

What is the name of your state? Kentucky
Hi,
I found this post while searching this site and was wondering if any one could provide me with more info about this case or about the gentleman it mentions. I am having a similar problem with Asset Acceptance here in Kentucky and think this info might help.
This was the post :

"ladynred05-04-2005, 06:38 PM
The main problem is that most of these types of cases are not tried in a court of record and that means there is no case law. A guy from KY was here not too long ago and was being sued by ASSet Acceptance on an SOL debt. He fought it, and won, ASSet backed down and dismissed.

I don't know if I bookmarked that thread, if I didn't I'll have to search for it. You may want to contact the guy yourself, he may have something to offer you."

I have searched all pages and posts available to me and could not find this thread.
Ladynred-if you're out there and can help I would greatly appreciate it.
Thanks in advance.
Flyersgirl65

[Ladynred]

I'm here

I'd have to search myself, that's been quite a while.

What is your issue with ASSet ?? ASSet loves to sue on out of statute debts. However, they count on winning judgments by default because people don't know how or won't fight them. The numbers show that if you give ASSet a fight, 99% of the time they will back down. They don't want a fight, they want the easy victims.

[flyersgirl65]

Hi LadynRed,
My issue with ASSet is...ex-husband charged up a fortune while we were separated on a General Motors Credit Card and when we divorced b(I was young and stupid) I didn't make sure that the divorce decree said the debts were his. Long story short-he filed bankruptcy and they have been after me for years (one collection agency after another). I have finally gotten my credit back to where it was before this all happened-remarried and have a child and still they are after me for $11,500.00 which frankly I don't just have lying around and truthfully even if I did I don't feel that I should foot the bill for his trips to Puerto Rico or his T-Fal pots.. (No I'm not bitter
So I went to our lawyer and he wrote them a cease and desist letter and they responded, 1 year later mind you, that I have until April 30, 2006 to decide if I will settle or they will sue me.
This debt was charged off on 3/1/99 and in October 1998 it was 180 days late.
I lived in NY at the time (statute there 6 years) and have lived in Kentucky for the past 8 years (where I belive the statute is 5 years though I think they want to argue that it's a written contract and therefore 15 years.)
I am composing a letter which I plan to send to my attorney explaining that this is the tack I want him to take and hoping they will finally just leave me alone-but I'm also sweating blood at the idea of them taking our house or putting a hold on our bank accounts (I have though switched all but a nominal amount of our money to an account in just my husband's name).
I can send you a copy of the letter I have drafted if you would like-just let me know and thanks so much for listening and for your help.
Flyersgirl

[Ladynred]

when we divorced b(I was young and stupid) I didn't make sure that the divorce decree said the debts were his.

Even if you had it wouldn't make any difference. If your name was on the account, the creditor/collectors will come after you regardless of what a divorce decree says.

According to your dates, the debt went delinquent around May of 1998 - that would start the SOL clock.

You should stick to your guns regarding the SOL of 5 years. It's your absolutel defense and, like I said, Asset doesn't want a fight, they want easy pickin's. If you cost them time and money, they are nore likely to drop the whole thing. Hammer them for proof of the debt. If you haven't demanded validation, do it to protect your rights. ASSet can't prove squat, they never have the backup documentation. Don't let them get away with bogus affidavits if they send you one. If they sue, run them thru the discovery process. They will ALWAYS try for the longer SOL, not all judges will agree.

As for taking your house, that's not likely to happen. It costs far too much money and effort. They may get a lien on it and they can certainly go after bank accounts.. IF they sue and win only.

You can send me a copy of the letter if you'd like.. PM me.