Palisades Collection is a debt collection company. Are they contacting you or have they reported bad credit on your credit report? If so, it is important to know how you can fight back!
Who Is Palisade Collections?
Palisades Collection is a subsidiary of Asta Funding another collection agency. Palisades will collect on many different types of debt accounts including:
- Charge off debt
- Mobile phone service accounts
- And many more
Palisades Collection LLC
210 Sylvan Ave.
Englewood, NJ 07632
Phone number: 201-567-5648
How Palisades Got Your Information
Asta Funding will often purchase your debt account from a lender or a third party collection agency. Then Palisades Collection will begin contacting you for repayment. They will report a debt collection on your credit report and this will damage your credit score.
Complaints Against Palisades Collection
There are a wide array of consumer complaints about Palisades Collection LLC and Asta Funding. Many of these complaints are regarding debt collection attempts on accounts that are:
- Passed the statute of limitations
- Manipulation of last activity on an account
- Inflated balances due on your account
As we mentioned, Asta Funding is frequently the purchaser of the debt accounts. Then they will pass the account on to Palisades to attempt collection on it. In other words get you to pay. However the debt account appears to be owned by Asta Funding. Did you know Palisades Collection and Asta Funding only pay pennies on the dollar for collection rights on your debt account?
If you had a credit card that gets charged off. Then Palisades Collection begins contacting you for payment. The amount that Palisades is attempting to collect from you. Is almost always astronomically higher than your closing balance, before your credit card was charged off.
This Is a Result of 2 Reasons:
1. Default Interest Rate
Your credit card will charge you a high interest rate before they actually charge off your debt. This interest rate will be charged and fees for the last six months your credit card account is open. On a side note when the credit card issuer charges your account off, they can use it as a tax break.
From a business perspective it makes sense that credit card companies would like a bigger tax break when it is possible. Therefore the bigger you balance the bigger the tax write off for the credit card issuer.
2. Palisades Collection Can Legally Charge You a Collection Fee
Yes, you read that correctly. Palisades and other collection agencies can legally add collection fees to your account balance.
How You Can Fight Back Against Palisades Collections
You should first request validation of your debt before you even speak with Palisades. You can send a validation of debt letter and you should get a response in roughly 30 days from receipt. This is going to require them to show you evidence that they purchased your account.
And are the current owner of the account. You should check the dates on your debt with the original lender. Make sure that your account has not aged passed the statute of limitations. If Palisades Collection is unable to validate your debt. Then you are not legally responsible for payment.
Palisades should notify the credit bureaus that your debt is not valid. This will result the credit bureaus cleaning up credit report listings about this debt account. If you are having difficulty dealing with Palisades Collection or Asta Funding we would encourage you to consider hiring a credit repair professional. These services will provide you with expert credit attorneys that know how to stop debt collectors.
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