ACI collection?

dancing_star

Asking on behalf of a friend who is not internet savvy. She is being bled dry by her son who claims ACI  are taking control of his bank account and charging £30 a day from him for 'credit reports'. Which he is stinging her for. Sounds unlikely to me.

I have googled and they look like a fee paying debt management co.

Anyone have any further info? My friend just wants to know if her son is lying to her. I'm not getting involved, I just said I would have a look to see what they do.

sourcrates

Do you mean "Asset Collections and Investigations" ?

I can`t find a Debt mangement company under that name.

I can tell you that story is completly bogus, credit reports are free, and only update monthly, so why you would want one daily ?

And the £30 daily fee is anyones guess.

What is this in regard to ? are they running a debt mangement plan for him ? fee`s are charged monthly, not daily, all sounds very suspect to me.

dancing_star

I think your guess is right re Asset Collection and Investigations.

I was just guessing they were a DMC... It is hard to get a straight answer, he just told her to Google ACI and she isn't savvy, so she asked me.

I have no idea what ACI do but from what she said he is in some sort of repayment plan.

My guess is he's spinning a vulnerable person a line and is gambling or something but I did say  I would look up ACI.

sourcrates

Asset collections are a particulaly tenacious debt collector, they cannot have access to his bank account, unless he`s stupid enough to allow it, with regard to the money, any debt repayment plan he may or may not have, would be paid weekly/monthly, never daily, and never for credit reports.

I agree with your analysis, it sounds like a gambling or maybe a drug habit, he needs to be spoken too i think.

sharpe106

I think they need to find out more information as does not sound likely they will be taking money out each day. Sounds like hes spinning a lie as others have said. 

dancing_star

sourcrates said:

Asset collections are a particulaly tenacious debt collector, they cannot have access to his bank account, unless he`s stupid enough to allow it, .

I wouldn't bet against him being stupid enough to allow it!

Thank you - sorry if these are stupid questions but I don't have experience of debt collectors and my friend is clueless and not savvy at all, she is quite vulnerable, elderly and has impaired memory. I need to put it into simple words what ACI are and what they will be doing. So are they a third party debt collector who will have been assigned by whichever company he owes money to? Is it possible that they have agreed a payment plan with him and that's why he's saying he only has control of however much per month?

I was initially concerned it was a dodgy IVA set up but I am guessing ACI aren't an IVA selling company they are just debt collectors. And if they are a particularly tenacious one then I suppose they are hounding him if he misses payments. Or if he is dopy enough to let them have access to his bank account then who knows?

Thank you for replies. I agree he needs a boot up the proverbial, but I've never met him and it is absolutely none of my business other than to tell my friend what I can find out about the company and if they would be doing what he says they are. I told her to stop giving him all her money, and not listen to sob stories.

sourcrates

If its Asset Collections we are talking about, this bunch here -

https://www.assetcollections.uk/home

then they usually buy up old payday loans, car loans, that kind of thing, they are a debt purchasing company, basically a debt collector who collects debts they have themselves bought.

As i said, the bit about the bank account, and the £30 a day fee is unlikely to be true, most folk would agree say for example £30 a month, it would not be a daily thing, so you, or she, needs to find out whats really going on here, not easy i agree.