SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

REITZEL RUFUS H JR

(Last)

(First)

(Middle)

28405 VAN DYKE AVENUE

(Street)

WARREN

48093

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ASSET ACCEPTANCE CAPITAL CORP [ AACC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/28/2006

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $0.01 par value per share	02/28/2006		S		29,430	D⁽¹⁾	$20.0035	2,603,432	D
Common Stock, $0.01 par value per share	03/01/2006		S		8,595	D⁽¹⁾	$20.0051	2,594,837	D
Common Stock, $0.01 par value per share	02/28/2006		S		3,270	D⁽¹⁾	$20.0035	195,343	I	By Lisa R. Bradley Trust⁽²⁾⁽³⁾
Common Stock, $0.01 par value per share	03/01/2006		S		955	D⁽¹⁾	$20.0051	194,388	I	By Lisa R. Bradley Trust⁽²⁾⁽³⁾
Common Stock, $0.01 par value per share	02/28/2006		S		3,270	D⁽¹⁾	$20.0035	195,343	I	By James H. Reitzel Trust⁽²⁾⁽³⁾
Common Stock, $0.01 par value per share	03/01/2006		S		955	D⁽¹⁾	$20.0051	194,388	I	By James H. Reitzel Trust⁽²⁾⁽³⁾
Common Stock, $0.01 par value per share	02/28/2006		S		3,270	D⁽¹⁾	$20.0035	195,343	I	By Stacey Reitzel James Trust⁽²⁾⁽³⁾
Common Stock, $0.01 par value per share	03/01/2006		S		955	D⁽¹⁾	$20.0051	194,388	I	By Stacey Reitzel James Trust⁽²⁾⁽³⁾
Common Stock, $0.01 par value per share	02/28/2006		S		3,270	D⁽¹⁾	$20.0035	195,343	I	By Traecy Merle Reitzel Trust⁽²⁾⁽³⁾
Common Stock, $0.01 par value per share	03/01/2006		S		955	D⁽¹⁾	$20.0051	194,388	I	By Traecy Merle Reitzel Trust⁽²⁾⁽³⁾
Common Stock, $0.01 par value per share	02/28/2006		S		3,270	D⁽¹⁾	$20.0035	195,343	I	By Heather Reitzel Irrevocable Trust⁽³⁾⁽⁴⁾
Common Stock, $0.01 par value per share	03/01/2006		S		955	D⁽¹⁾	$20.0051	194,388	I	By Heather Reitzel Irrevocable Trust⁽³⁾⁽⁴⁾
Common Stock, $0.01 par value per share	02/28/2006		S		19,620	D⁽¹⁾	$20.0035	1,890,844	I	By Heather Reitzel Revocable Living Trust⁽³⁾⁽⁵⁾⁽⁶⁾
Common Stock, $0.01 par value per share	03/01/2006		S		5,730	D⁽¹⁾	$20.0051	1,885,114	I	By Heather Reitzel Revocable Living Trust⁽³⁾⁽⁵⁾⁽⁶⁾
Common Stock , $0.01 par value per share	03/02/2006		S		5,265	D⁽¹⁾	$20	2,589,572	D
Common Stock , $0.01 par value per share	03/02/2006		S		3,510	D⁽¹⁾	$20	1,887,334	I	By Heather Reitzel Revocable Trust⁽³⁾⁽⁵⁾⁽⁶⁾
Common Stock , $0.01 par value per share	03/02/2006		S		585	D⁽¹⁾	$20	193,803	I	By Heather Reitzel Irrevocable Trust⁽³⁾⁽⁴⁾
Common Stock , $0.01 par value per share	03/02/2006		S		585	D⁽¹⁾	$20	193,803	I	By Lisa R. Bradley Trust⁽²⁾⁽³⁾
Common Stock , $0.01 par value per share	03/02/2006		S		585	D⁽¹⁾	$20	193,803	I	By James H. Reitzel Trust⁽²⁾⁽³⁾
Common Stock , $0.01 par value per share	03/02/2006		S		585	D⁽¹⁾	$20	193,803	I	By Stacey Reitzel James Trust⁽²⁾⁽³⁾
Common Stock , $0.01 par value per share	03/02/2006		S		585	D⁽¹⁾	$20	193,803	I	By Traecy Merle Reitzel Trust⁽²⁾⁽³⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The sale of stock has been made pursuant to a previously agreed to 10b5-1 sales plan.

2. The trust is for the benefit of Mr. Reitzel's adult child and Mr. Reitzel is co-trustee with his spouse.

3. Mr. Reitzel disclaims beneficial ownership of these shares and the filing of this report is not an admission that Mr. Reitzel is the beneficial owner of these securities for the purposes of Section 16 or for any other purpose.

4. Mr. Reitzel and his spouse are co-trustees.

5. Mr. Reitzel's spouse is the sole trustee.

6. The trust is for the benefit of Mr. Reitzel's spouse.

Remarks:

	Mark A. Redman, under power of attorney for Rufus H. Reitzel, Jr.	03/01/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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