MI-based Asset Acceptance Capital reported that third quarter cash collections of $90.7 million were up more than 12% over 3Q/06. However, total revenues declined 11% to $52.6 million for the third quarter, compared to the year ago quarter. Third quarter purchased receivable revenue declined 12.8% to $52.0 million. The Company reported a net loss in the quarter of $1.7 million, compared to net income of $10.7 million in the third quarter 2006. AACC noted that the results were impacted by a sizeable impairment to purchased receivable revenue which it incurred following a comprehensive review of its collections forecasts and related models. During the third quarter, the Company spent $35.3 million to purchase charged-off consumer debt portfolios with a face value of $1.9 billion, representing a blended rate of 1.90% of face value. For complete details on Asset Acceptance Capital’s third quarter results visit CardData ([www.carddata.com]).