Acquired Assets, Ltd. Debt Collection Harassment❓
Is Acquired Assets, Ltd. Harassing you over a debt? If you have recently received a call from a collection agency, saying you owe a particular amount, you have three options; seek to know more about the agreement, pay the debt immediately, or ignore the debt collector. The first option is the best.
Choosing to ignore a debt collector is a bad idea because it can lead to ugly future events like surprise lawsuits. Immediately paying a debt collector who calls you is also a bad idea because you may be paying a debt that isn’t yours, a debt that doesn’t exist, or a debt that already been settled or discharged in bankruptcy.
When you get a call from a debt collector, the wise thing to do is to seek to know more by seeking validation or verification. This will help you know if you should pay the debt or not.
While you do this, the debt collector is prohibited from calling you or making any attempts to collect on the debt. The Fair Debt Collection Practices Act is a law that guides debt collection and it frowns against any form of debt collection harassment.
If a debt collector is making you feel uncomfortable or insecure, please contact us now.
Understanding Debt Collection
Debt collection is the process of recovering payments from individuals or businesses that have failed to pay their debts. This can include debts from credit cards, loans, and other financial obligations. Debt collectors, like Acquired Assets, Ltd., are hired by creditors to recover these debts. In some cases, debt collectors may purchase the debt from the original creditor, giving them the right to collect the payment. Debt collection can involve various strategies, including phone calls, letters, and legal action. It’s essential for consumers to understand their rights and protections under the law, including the Fair Debt Collection Practices Act (FDCPA), which regulates the behavior of debt collectors. Knowing your rights can help you navigate the debt collection process more effectively and ensure that you are treated fairly.
What is a Debt Validation Request❓
The Fair Debt Collection Practices Act mandates debt collectors to honor a debtor’s debt validation request. A debt validation request as the name implies is a letter that requests for debt verification/validation. Debt collectors must ensure compliance with the Fair Debt Collection Practices Act when responding to a debt validation request.
Debt validation can save you from paying debts you shouldn’t be paying or debts that the collection agency is not authorized to collect from you.
A debt validation request must be sent within 5 days of the first contact from the debt collector.
After you have requested for a debt validation request, the collection agency is expected to cease contacting you until they respond by sending you a debt validation letter. This letter should contain vital information like a copy of the original contract, proof that you owe the debt, the original creditor, and your contact information.
Who is Acquired Assets, Ltd.❓
Acquired Assets, Ltd. is a third-party debt collection organization located in Mineola, New York. The company was established as a domestic business corporation in Nassau county, on March 28, 1994, 26 years ago, and specializes in collecting defaulted debt on behalf of financial institutions.
Contact Information
🏛️ Address: 147 WILLIS AVE MINEOLA, NY 11501
📞 Phone: (516) 746-1040
Is Acquired Assets, Ltd. a Scam❓
No, they are a legitimate collection agency. Acquired Assets, Ltd. Although now accredited by the BBB as at the time of this writing, the agency as received 21 complaints from distressed consumers with the CFPB. In one case, a consumer reported receiving multiple calls from Acquired Assets, Ltd. despite having settled the debt.
Acquired Assets, Ltd Phone Numbers
📲 Are you receiving any harassing phone calls from any of the following numbers?
- 516-746-1040
If the answer is yes, then you are receiving calls from a known Acquired Assets, Ltd number. You may be a victim of Acquired Assets, Ltd phone harassment. Call us now on 877-700-5790
Rights and Protections
Consumers have several rights and protections when it comes to debt collection. The FDCPA prohibits debt collectors from using abusive, harassing, or deceptive practices to collect debts. This includes making false or misleading statements, using threats or intimidation, and contacting consumers at unreasonable times. Consumers also have the right to dispute debts and request verification of the debt from the collector. Additionally, the FDCPA requires debt collectors to provide consumers with certain information, such as the amount of the debt and the name of the creditor. Consumers can also stop debt collectors from contacting them by sending a cease and desist letter. It’s crucial for consumers to be aware of these rights and protections to avoid being taken advantage of by debt collectors. Understanding your rights can empower you to take control of the situation and seek the support you need.
Debt Collection Process
The debt collection process typically begins when a creditor hires a debt collector or sells the debt to a collection agency. The debt collector will then attempt to contact the consumer to recover the debt. This may involve phone calls, letters, or emails. If the consumer disputes the debt or requests verification, the debt collector must provide evidence of the debt, such as contracts, documents, or records. If the debt is valid, the consumer may be able to negotiate a payment plan or settle the debt for a reduced amount. In some cases, the debt collector may take legal action to recover the debt, such as filing a lawsuit or obtaining a court judgment. Consumers should be aware of the debt collection process and their rights under the law to ensure they are treated fairly and protected from abusive practices. By understanding the process and their rights, consumers can better navigate the situation and make informed decisions about how to proceed. Acquired assets, such as intellectual property, patents, and trademarks, may also be involved in the debt collection process, particularly if the debt is related to a business or commercial transaction.
About Us
Consumer Rights Law Firm PLLC a law firm that specializes in helping clients who are facing harassment from debt collectors. If you suspect that your debt collection rights are being trampled upon, contact our office to begin the process to stop the harassment you may currently be receiving from Acquired Assets, Ltd. Our office has been assisting consumers since 2010, and we have an A+ rating with the Better Business Bureau.
Call us at (877) 252-0795 for immediate assistance.
