Asset Acceptance is a debt buyer. Its primary business is the purchasing of defaulted debts from lenders and subsequent collection of those debts through normal debt collection activities. The corporation is headquartered in Warren, Michigan. Asset Acceptance is a trade name used by several companies owned by the parent corporation Asset Acceptance Capital Corporation (AACC), which has existed since the formation of the predecessor company in 1962. Asset Acceptance Capital Corporations's main revenue-generating subsidiary is Asset Acceptance, LLC. Asset Acceptance Capital Corporation, a publicly traded company, was one of the largest debt buyers in the United States. The company quadrupled its revenue to $252.7 million from 2001 to 2005.