-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Rm9RCHzC2NKFum1N30sgpc1Akm44JYqnPzbg42Ohv+zErqL2daZSPbEHXagKTNr8
 Np0xymuYFslNXswCFN6egg==

<SEC-DOCUMENT>0001181431-09-010941.txt : 20090224
<SEC-HEADER>0001181431-09-010941.hdr.sgml : 20090224
<ACCEPTANCE-DATETIME>20090224143045
ACCESSION NUMBER:		0001181431-09-010941
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090223
FILED AS OF DATE:		20090224
DATE AS OF CHANGE:		20090224

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASSET ACCEPTANCE CAPITAL CORP
		CENTRAL INDEX KEY:			0001264707
		STANDARD INDUSTRIAL CLASSIFICATION:	SHORT-TERM BUSINESS CREDIT INSTITUTIONS [6153]
		IRS NUMBER:				800076779
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		28405 VAN DYKE AVENUE
		CITY:			WARREN
		STATE:			MI
		ZIP:			48093
		BUSINESS PHONE:		(586) 939-9600

	MAIL ADDRESS:	
		STREET 1:		28405 VAN DYKE AVENUE
		CITY:			WARREN
		STATE:			MI
		ZIP:			48093

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Pickard William
		CENTRAL INDEX KEY:			0001308434

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50552
		FILM NUMBER:		09630494

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(313) 297-6676

	MAIL ADDRESS:	
		STREET 1:		2627 CLARK STREET
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48210
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd234496.xml
<DESCRIPTION>PICKARD, WILLIAM (2-23-09)
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-02-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001264707</issuerCik>
        <issuerName>ASSET ACCEPTANCE CAPITAL CORP</issuerName>
        <issuerTradingSymbol>AACC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001308434</rptOwnerCik>
            <rptOwnerName>Pickard William</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2627 CLARK STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DETROIT</rptOwnerCity>
            <rptOwnerState>MI</rptOwnerState>
            <rptOwnerZipCode>48210</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Deferred Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2009-02-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>906</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $0.01 par value per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>906</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>906</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each deferred stock unit converts to shares of common stock on a one-to-one basis.</footnote>
        <footnote id="F2">The reporting person has received Deferred Stock Units (&quot;DSU&quot;) under the Company's 2004 Stock Incentive Plan, as amended.  The reporting person has elected to receive DSUs in lieu of part of the annual retainer fees payable for services on the Company's Board of Directors.  The DSUs are immediately vested and a settlement will occur in a single lump sum as soon as practicable after the earliest of the following events:  (1) death of reporting person; (2) disability of reporting person; (3) change in control of Asset Acceptance Capital Corp.; (4) other separation of reporting person's service to Asset Acceptance Capital Corp.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Mark A. Redman, attorney-in-fact for William Pickard</signatureName>
        <signatureDate>2009-02-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----