Collins Asset Group: Who They Are and Your Rights

Type

Debt buyer

Also known as

Collins Asset Group, LLC; CAG

Headquarters

Austin, TX

Collects

consumer installment loans, auto loans, credit card receivables, second-lien mortgage loans

32 debt collection complaints were sent to the Consumer Financial Protection Bureau about Collins Asset Group, LLC from November 13, 2023 to November 12, 2026. A complaint is a consumer's account, not a finding that the company broke the law. Read the complaints in the CFPB database.

Who Is Collins Asset Group?

Collins Asset Group, LLC (CAG) is a Texas debt buyer with a mailing address of PO Box 91059, Austin, Texas 78709, according to its BBB business profile. It bought loan accounts from banks, finance companies and fintech lenders.

The company's status changed in 2025. According to an April 7, 2026 announcement by Garnet Capital Advisors, CAG filed a voluntary Chapter 7 bankruptcy petition on June 4, 2025, and a trustee was appointed on August 1, 2025 to dispose of the estate's assets. Garnet reported that it sold the estate's loan portfolio, about $2.9 billion in face value, to a single investor on the trustee's behalf, and called the sale a full liquidation of the estate's loan assets. The buyer was not named. The company's website was not loading when we checked in November 2026. We did not find a CFPB enforcement action against Collins Asset Group.

Why Collins Asset Group May Be Contacting You

Garnet described the portfolio as consumer installment loans, auto loans, credit card receivables and second-lien mortgage loans, ranging from accounts still paying to accounts already reduced to judgment. If CAG owned one of your accounts, three things may now be true:

• The account has likely been transferred to the investor that bought the portfolio, which may use its own servicer or collection agency.
• A judgment CAG won against you may now be held by a new owner. Ask for proof that the judgment was assigned before paying on it.
• Letters naming CAG may come from a servicer still working the account during the transition. Ask who owns the debt today.

Because the owner may change hands, the name on a letter may be unfamiliar; see why a company you've never heard of may sue you.

How to Check a Debt Collins Asset Group Says You Owe

• Get the validation notice from whoever is collecting now. It must name the current creditor, the original lender and an itemized balance (15 U.S.C. § 1692g; 12 C.F.R. § 1006.34).
• Dispute in writing within the validation period, and ask for documents showing the chain of title from the original lender to CAG and from CAG's bankruptcy estate to the current owner.
• Compare the balance to your last statement from the original lender. Interest or fees added after the sale should be explained.
• Check the dates. Texas allows four years to sue on most debts (Tex. Civ. Prac. & Rem. Code § 16.004), and a debt buyer can't sue on time-barred consumer debt (Tex. Fin. Code § 392.307). An existing judgment follows different rules. Limitation periods vary by state.

What Collins Asset Group Can and Can't Do

A company whose principal purpose is collecting debts is a "debt collector" under 15 U.S.C. § 1692a(6) even when it owns the accounts it collects. Henson v. Santander, 582 U.S. 79 (2017), held that a buyer collecting its own debts isn't covered under the "owed to another" prong, but the principal-purpose prong can still apply to a business built on buying and collecting defaulted debt. Whoever collects a former CAG account:

• May not misstate who owns the debt or how much is owed (15 U.S.C. § 1692e(2)(A)).
• Must stop collecting a disputed debt until it sends verification (15 U.S.C. § 1692g(b)).
• May not sue in Texas on a time-barred consumer debt it bought (Tex. Fin. Code § 392.307).
• Must prove it owns the account if it sues; see how debt buyers work.

If you're sued, see what to do first.

We Sue Debt Collectors That Break the FDCPA

Texas Debt Law files Fair Debt Collection Practices Act lawsuits against debt collectors in federal court for consumers in Texas, California, Illinois, Georgia and Colorado. If Collins Asset Group or anyone collecting for it harassed you, misstated what you owe, threatened action it could not take, or told others about your debt, you may have a claim. A court can order a collector that violated the FDCPA to pay your actual damages, up to $1,000 in additional statutory damages, and your attorney's fees and costs (15 U.S.C. § 1692k(a)). An FDCPA claim generally must be filed within one year of the violation (§ 1692k(d)), so keep your letters, call logs, voicemails and screenshots, and talk to us early. Texas residents may also have claims under the Texas Debt Collection Act. Learn more from our FDCPA attorneys.

Free FDCPA Case Review(214) 851-2250

Or start your free case evaluation online. No lawyer can promise a result; every claim depends on its facts and proof.

Sources

• Garnet Capital press release: $2.9 billion loan portfolio liquidation for Chapter 7 trustee (Apr. 7, 2026)
• BBB business profile: Collins Asset Group, LLC (address only)
• CFPB enforcement actions (full list reviewed)
• CFPB Consumer Complaint Database: Collins Asset Group, LLC, debt collection

This profile is general information compiled from public sources, not legal advice, and it does not state or imply that Collins Asset Group has violated any law. Company details change; tell us if something here is out of date.