- Have you gotten a threatening phone call or written letter demanding payment from Palisades Collections?
- Have you discovered bad credit from Palisades?
Yes? Then keep reading and discover two of Palisades Collection dirty little secrets about how they will attempt to annihilate your credit score and try and get you to pay!
Who is Palisades Collections LLC
Palisades collections is owned by the parent company of Asta Funding Inc. These two companies are collection agencies. They are located in Englewood Cliffs, New Jersey.
Why Is Palisades Collections Contacting You
They are attempting to collect a debt. This debt has been assigned or purchased from the original lender. Additionally Palisades will buy third-party ‘junk debt’ or debt accounts from another collection agency.
They will collect on many different types of debts including debt from:
- AT&T
- Citibank
- Verizon
- Nissan
- Chase Manhattan…
Dirty Little Secret #1 of Palisades Collections
If you speak to Palisades on the telephone they will often ask you for your Social Security number. Do not give them this!
It is alleged that Palisades will manufacture documents for your debt. And there are allegations that they also manufacture legal documents in order to file a civil lawsuit, in an attempt to get a judgement against you!
If they have legitimate rights to collect upon your debt then they will have your Social Security Number already. Do not fall for this trick!
Speculation is that they ask for your Social Security number for debt accounts that have been purchased from other collection agencies. There are reports that Wolpoff & Abramson an independent collection agency sold a huge number of debt collection accounts to Palisades and Asta Funding.
Dirty Little Secret #2 of Palisades Collections
Frequently Palisades Collections will make phone calls, send you letters, and even use legal action in attempt to collect on your debt. However they may not even legally own your debt!
Your debt may be past the Statute of Limitations which removes your legal responsibility for the debt. And there are a number of complaints about Palisades contacting the wrong person and trying to collect on PAID accounts!
Your first step should be to request for debt validation, which will require Palisades to show you the documentation that they are the legal owners of your account. You need to check this documentation against the dates of your original account with the original creditor.
You are only legally responsible to pay a debt for seven years (on most debts). This seven years begins from your first date of delinquency with the original lender.
Palisades Collections and many collection agencies completely disregard the Statute Of Limitations! There are a number of collection agencies that have paid large fines to the Federal Trade Commission for violation this regulation!
It is also rumored that they will falsely report information to the credit bureaus, which will damage your credit score. Take action today to clear your credit reports and avoid being another victim of Palisades Collections.
If you are being contacted by them or have discovered bad credit on your credit reports we would suggest that you speak with a credit repair professional for help.