Unknown negative item on credit report

Hi Tantran,

Palisades is a collection agency. They should have a legitimate purpose before reporting in your credit file. Get the debt validated by them in writing. It is your legal right to know the details of the debt they are collecting for. The federal laws are mentioned in the FDCPA. Recite the laws by drafting a debt validation letter to their mailing address.

If they can't give you anything in writing, dispute their item with the credit bureau and send a letter to the collection agency. It is a federal violation to report incorrect negative item in consumers' credit report. Either the company has to validate the debt for authorizing their item in your credit report or it is to be removed completely.

Here is the contact info.

Palisade collection LLC - 201-567-5648 is a Delaware Limited Liability company
210 Sylvan Ave
Englwood Cliffs
NJ 07632

They are managed and operated by Gary Stern telephone number 201-567-5648.

Let me know what happens.

Justin

They don't have to contact you before putting it on your credit reports.

Your credit report showing their account should include their contact information, not just their name. If it is not there, get it from the CRA.

You might also file a complaint against the CRA for not having it there. With the level of errors common on consumer credit reports, the CRAs should not place or allow additional barriers to consumers correcting them.

Perhaps, they do not have contact you before
placing it on your CR, but they should send a
Validation Notice within 5 days after stinging
your CR.

In the state of FLORIDA, the CA must contact
the consumer within 30 days after the Assignment.

Section 809(a) [15 U.S.C. s. 1692g] of the FDCPA
provides in relevant part that; within five days after
the initial communication (as in stinging your CR),
a debt collector shall send a Validation Notice.

See, § 809. Validation of debts [15 USC 1692g]

(a) Within five days after the initial communication
with a consumer in connection with the collection of
any debt, a debt collector shall, unless the following
information is contained in the initial communication
or the consumer has paid the debt, send the consumer
a written notice containing --

(1) the amount of the debt;

(2) the name of the creditor to whom
the debt is owed;

(3) a statement that unless the consumer,
within thirty days after receipt of the notice,
disputes the validity of the debt, or any portion
thereof, the debt will be assumed to be valid by
the debt collector;

(4) a statement that if the consumer notifies the
debt collector in writing within the thirty-day period
that the debt, or any portion thereof, is disputed,
the debt collector will obtain verification of the debt
or a copy of a judgment against the consumer and
a copy of such verification or judgment will be mailed
to the consumer by the debt collector; and

(5) a statement that, upon the consumer's written
request within the thirty-day period, the debt collector
will provide the consumer with the name and address
of the original creditor, if different from the current creditor.

Here's some information:

I CHECKED MY CREDIT REPORT AND I SAW
THAT Palisades WAS ON MY CREDIT REPORT.

Palisades should have sent a Validation Notice within
five days after dinging your CR. Failure to do so is a
FDCPA violation.

I HAVE PAID OFF MY VERIZON DEBT AND HAVE
PROOF THAT I PAID IT IN FULL. NOW I SEE THIS
COMPANY ON MY CR STATING THAT I OWE ALMOST
700.00 DOLLARS. I PAID OFF ALL MY DEBT LAST YEAR.

First, I would get them on more violations. DV with Palisades,
and Dispute with the CBs. Palisades will most likely Verify with
the CB WITHOUT Validating with you. This would be FCRA
violations.

If you do not want any more violations, OR just want it
removed, send Palisades proof that you paid the debt
in full, WITHOUT disclosing your personal information.
This is no guarantee that it will be removed because
Palisades may just mark the account as "paid after
collections" with a current date. This damages Credit
Scores because it will be scored as a recent paid
collections.

I WAS WONDERING WHY MY CREDIT
WOULD ALWAYS BE DENIED. WELL NOW I KNOW.

That's why we must closely monitor our CRs or at
least check our CRs BEFORE applying for new credit
or financing.

I TRIED CONTACTING THIS COMPANY BUT ALL
I RECIEVE IS A VOICEMAIL FROM CUSTOMER SERVICE.

Sounds illegal to me. The FTC heavily fined the CBs for
doing the same or similar acts some years ago. But if you
are calling a 1-800 number they are recording and capturing
your personal information, such as name and location
that you are calling from. Do NOT call anymore. Put everything
in writing. Send it via Certified Mail Return Receipt Requested
(CMRRRs).

CAN SOMEONE TELL ME WHAT I SHOULD DO.
ALSO I HAVE NEVER RECEIVED ANY LETTERS FROM THIS
COMPANY.

See, above statements. Also, and this is important,
file a detailed Complaint with your proof of payment to
the FTC, your State Attorney General, and (Palisades)
New Jersey State Attorney General. Send everything
by CMRRR.

Hope this helps.

I have also seen a lot forum discussions in the debt forum about palisades collection. You can always check there. There has been and still is a lot of controversial things going on around this agency. Be careful.

I would 'dispute' this with the Credit Bureau. Send a letter, or fax them, the 'Paid in Full' document. If u have proof you paid the CA, the item should come off your credit. You can bring a credit report up on "www.annualcreditreport.com"

Well Bernice,

Dont pay anything more than you owe. Negotiate with the collection agency. Ask them for a debt validation, also know from them how much you owe in the debt. DO not pay more than you owe.

bernice,
did they say why the balance jumped so high? You need to make them validate the debt, they are inflating your debt to make money off you.

Who are you trying to refinance through? If there is any possible way they will over look this one bill, I would ask them? If not, can you refinance through someone else, if not, you may want to ask Palisade what they will settle for? Usually, industry standard is 70-80% of the debt, but what they want is crazy, way over what you owe, I would try to get them to settle, tell them it is a one shot deal. Do not let them know that you are trying to refinance or they won't give in at all. Goodluck and keep us updated.

Hi Guest that is for sure. Palisades cannot continue if the whole country is reporting against them. People should know about their fraudulent services.

Absolutely, people in debt are desperate especially when CAs and such go after them threatening them! people need to know that this company has shady practices. I think any company that inflates debts like that should be put out of commission. if we all gather in numbers it could work. I'm sorry to hear that this is happening to you and I do hope that you're able to validate the debt and hopefully we can find additional ammunition for you to put in your aresenal to fight these guys
Could this go to the AG? certainly to the BBB eh?

ok