Asset Acceptance LLC Sued Arizona Consumer for Navy Federal Credit Union Account which is Past the Statute of Limitations

Recent client inquiries reflect that Asset Acceptance LLC, a large national debt buyer who claims to have purchased a large portfolio of debts originating with the Navy Federal Credit Union, is suing Arizona debtors on these debts. In a recent case I investigated, it appears that the Navy debt is well beyond the applicable statute of limitations in Arizona for credit card debt which is now 6 years. Calls from other Arizona consumers confirms this may be happening on a regular basis.

Despite the underlying debt being stale (past the statute of limitations), Asset has filed suit using one of its Arizona law firms Fulton, Friedman & Gullace. It is common knowledge that many debt buyers file suit hoping that Arizona debtors will ignore the law suit and the debt buyer will obtain a default (meaning uncontested) judgment. Once the judgment is entered, the claim becomes valid and the debt buyer can garnish wages or bank accounts to collect the debt.

Not only are these stale debts completely defensible, the federal Fair Debt Collection Practices Act (FDCPA) prohibits such actions. Under the FDCPA, an Arizona consumer wrongfully sued by Asset can seek recovery of damages from the illegal lawsuit.

Protect Your Rights. If you are an Arizona consumer who has been sued by Asset Acceptance LLC on a Navy Federal Credit Union account, please contact Floyd W. Bybee at the BYBEE LAW CENTER, PLC (480) 756-8822 for a free phone consultation.