Asset Acceptance is a trade name used by several companies owned by the parent corporation Asset Acceptance Capital Corporation, which has existed since the formation of the predecessor company in 1962. Asset Acceptance Capital Corp's main revenue-generating subsidiary is Asset Acceptance, LLC. Asset Acceptance is a debt purchaser, which means that its primary business is the purchasing of defaulted debts from lenders and subsequent collection of those debts through normal debt collection activities. The corporation is headquartered in Warren, Michigan.
Per a press release of January 30, 2012, the Federal Trade Commission accepted a settlement against Asset Acceptance that included a $2.5 million penalty over several charges including Asset Acceptance's practices regarding time-barred debt.
- Asset Acceptance Sees Gains in Collections, Revenue, Income in Q3; Debt Buying Up - insideARM.com | November 3, 2010
- Under FTC Settlement, Debt Buyer Agrees to Pay $2.5 Million for Alleged Consumer Deception - Firm Also Will Notify Consumers with "Time-Barred" Debt That It Will Not Sue to Collect - http://www.ftc.gov/opa/2012/01/asset.shtm | January 30, 2012
- Reuters UK (6 March 2013). "Encore Capital buys Asset Acceptance Capital for $200 million". Reuters UK.
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