5840 W. I-20, Ste #100 Arlington, TX 76017 Phone: 888-533-4222  817-561-2600 Fax: 817-561-2288

Quick Analysis                         Consumer Comments Below

They have been around for a long time. A once decent reputation ended with the purchase of some very old portfolios.  It seemed to immediately change their collection style to include threats of lawsuits, wage garnishment and seizure.  Global Acceptance Credit Company. (GACC) is not able to legally validate all the claims on accounts they purchase.

Watch for them changing the DOLA (dates of last activity) on credit reports to bolster their portfolios.

The good news about GACC is that they are members of the American Collectors Association (ACA) and they appear to be in good fiscal shape, so paying off on consumer lawsuits should not be a problem.

Anyone seeking documents to validate debts in accordance with the Fair Debt Collection Practices Act (FDCPA) should be aware that they likely do NOT exist.  Their website contains a revealing Buy/Sell agreement:

(m) The Buyer acknowledges Seller was not the original credit grantor for the accounts, and generally will not have in its possession account documents that may be requested by the Buyer. Buyer further acknowledges that the failure of Seller to provide any account document requested by Buyer will not be a breach of this agreement. However, where media does exist, Buyer may request media for $15.00 per document until ________________. If media is not available, affidavits can be requested for $5.00 each.

As with the majority of bottom feeders, who purchase these old accounts for pennies, consumers are warned that validation documents don’t exist, so expect your requests will either be ignored, or bogus documents will be manufactured to give you the appearance they have them. These documents are usually disguised as in-house affidavits by their ‘media supervisor, and bogus pleadings if they sue.
 

CAUTION: I recommend you NEVER disclose your bank account or credit card information to a debt collector, as you risk them emptying your account, or maxing out your credit card. If you feel they are reporting on your credit bureau files in error or need assistance in dealing with them, email  the details w/your location.  Assistance and referral to a consumer legal specialist may be available.           Email for Assistance 

  Comments from consumer emails.  Messages edited for brevity.

  Consumers said... GACC