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October 06, 2015 4:37 PM ET

Diversified Financial Services

Company Overview of Asset Acceptance LLC

Company Overview

Asset Acceptance LLC purchases and collects defaulted or charged-off accounts receivable portfolios from consumer credit originators in the United States. Asset Acceptance LLC was formerly known as Lee Acceptance Corp. and changed its name to Asset Acceptance LLC in September 2002. The company was founded in 1962 and is based in Warren, Michigan. Asset Acceptance LLC operates as a subsidiary of Encore Capital Group, Inc.

28405 Van Dyke Avenue

Warren, MI 48093

United States

Founded in 1962





Key Executives for Asset Acceptance LLC

Chief Executive Officer and President
Age: 53
Compensation as of Fiscal Year 2015.

Asset Acceptance LLC Key Developments

Asset Acceptance LLC Reaches Settlement in Class Action Lawsuit

A Settlement has been reached in a class action lawsuit alleging that Asset Acceptance, LLC violated the Telephone Consumer Protection Act, by calling, or allowing other companies to call on its behalf, cell phone numbers between April 17, 2009 and September 4, 2014, using a dialer without prior express consent. The Court did not decide in favor of Plaintiff or Asset. Asset denies any violation or liability. To settle the case, Asset will provide a Common Fund totaling $1,000,000.00 composed of an $800,000.00 Debt Forgiveness Component and a $200,000.00 Cash Component. The "Class" includes all persons whose cellular telephone numbers were called using a dialer by Asset, or someone acting on behalf of Asset, without consent, during the period from April 17, 2009 through September 4, 2014. Subject to final Court approval, each Class Member who submits a valid Claim Form will be entitled to recover from the Common Fund.

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