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Violation Tracker Individual Record

Company: Asset Acceptance LLC
Current Parent Company: Encore Capital Group
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $2,500,000
Year: 2012
Date: January 30, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: debt collection abuses
Violation Description: One of the nation's largest consumer debt buyers agreed to pay a $2.5 million civil penalty to settle Federal Trade Commission charges that it made a range of misrepresentations when trying to collect old debts. In addition, the company, Asset Acceptance, LLC, agreed to tell consumers whose debt may be too old to be legally enforceable that it will not sue to collect on that debt.
Level of Government: federal
Action Type: agency action
Agency: Federal Trade Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: debt recovery
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.