AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT

<PAGE>
                                                                   EXHIBIT 10.29
                                 AMENDMENT NO. 2
                                       TO
                              EMPLOYMENT AGREEMENT

      This AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT ("Amendment No. 2"), dated as
of December 23, 2005, is made between Asset Acceptance Holdings LLC, a
Delaware limited liability company (the Company") and HEATHER K. REITZEL (the
"Executive").

                                    RECITALS

      1. Prior to the date hereof, the parties hereto entered into that certain
Employment Agreement, dated September 30, 2002, along with one amendment thereto
(the "Employment Agreement"). Capitalized terms not otherwise defined herein
shall have the respective meanings set forth in the Employment Agreement.

      2. The parties hereto desire to further amend the Employment Agreement in
the manner set forth below.

                                    AGREEMENT

      NOW THEREFORE, in consideration of these premises and subject to the terms
and conditions contained herein and for other consideration provided herein, the
parties agree as follows:

      A. Compensation; Benefits.

            (1) A new sentence is added to the end of Section 3(b), to read as
follows:

            Notwithstanding the foregoing or any provisions of the Summary Terms
            for the Incentive Plan as set forth in Schedule 2 to the contrary,
            all Bonus amounts payable pursuant to this Section 3(b) shall be
            paid to the Executive no later than 2-1/2 months after the end of
            the calendar year to which such Bonus amount relates.

            (2) Section 3(f) of the Employment Agreement is hereby amended and
restated in its entirety as follows:

            (f) After the Executive's termination of employment with the
            Company, the Company will arrange and pay for insurance coverage for