Asset Acceptance Capital Corp. (AACC) is a purchaser and collector of defaulted or charged-off accounts receivable portfolios from consumer credit originators in the United States. Charged-off receivables are the unpaid obligations of individuals to credit originators, such as credit card issuers, consumer finance companies, retail merchants and telecommunications and other utility providers, as well as from resellers and other holders of consumer debt. Since these receivables have been subject to multiple collection efforts, AACC is able to purchase them at a substantial discount to their face value. Unlike many of its competitors, the Company does not collect on a commission or contingent fee basis. Rather, AACC purchases and collects charged-off accounts receivable portfolios for its own account.