FTC v. Asset Acceptance LLC (2013)
The Federal Trade Commission fined debt buyer Asset Acceptance $2.5 million for collecting on old, unverified debts. The company bought debts for pennies and pursued consumers without proof they owed the money.
Asset Acceptance paid the fine and stopped the challenged practices.
Set a precedent that debt buyers must verify debts before collecting them.
Similar to Metcalf's case: both involve debt buyers pursuing stale debts with aggressive tactics.
