Palisade Collection….parading in the Wrong Direction
Palisade Collection LLC, is known as a debt collection agency. This agency is an affiliate of Asta Funding Inc. In addition to debt collection, there are other financial products and services offered by this company. Some of the financial products offered by the company include the following:
• Debt collection software
• Collection agency software
• Collection agency software
Some of the financial services offered by Palisades Collection LLC include the following:
• Debt collection
• Offering auto insurance policies
• Credit card originating
• Credit card processing
• Settlement of bad debt
• Servicing bad debt
Non Compliance of Federal Laws:
Of late, this company has become unpopular because of their unethical behavior. Many people have complained about the company and accused them of inappropriate behavior towards the customers or the borrowers. This essentially violates the Fair Debt Collection Practice Act framed by the Federal Government in the United States of America. Since this company has not complied with the Federal Laws not once but many times, reports suggest that one should exercise extreme caution while dealing with the officials of this company.
Experts’ Opinion:
Experts have advised the following:
• An individual should never give away personal details to this company unless deemed necessary, the SSN or the Social Security Number for instance.
• One should always ask for a debt validation letter
If the borrower feels that there is a dispute in the statement showing the unpaid amount, he may always defend himself by making use of the validation letter. A borrower is entitled to this right as per information contained in the FDCPA.
• Any payment should not be committed without thoroughly understanding the deal.
• Any commitment from their side or from the consumers’ side should be written and documented in a proper manner.
• As far as mails are concerned, the CRRR or the Certified Return Receipt Requested should be activated.
• If there is a violation of the FDCPA, the consumer has all the right to revolt or defend himself.
• There should also be a direct communication with the lender. The reason being if a considerable time has lapsed when the loan was first applied and the first time the default was made, there may be some new policy or scheme to consolidate the debt. By doing so, the borrower can also find out if at all certain charges can be levied up on the borrower by the collection agents.
Often it has been observed that if these collection agencies try to manipulate the debt accounts of borrowers who are not aware that the collection agency is doing so, the borrowers are usually affected in the following manner.
In case the debtor has opted for an unsecured loan and he wishes to repay the outstanding amount within a period of time (for e.g 36months), he may end up paying more due to the manipulation in payment dates. The rate of interest is also a factor in this case.
If the borrower opts for a secured loan (where he keeps a house as the security) and due to some reason or the other, he is unable to repay the unpaid amount; he may land up losing the house in the long run.
• Debt collection software
• Collection agency software
• Collection agency software
Some of the financial services offered by Palisades Collection LLC include the following:
• Debt collection
• Offering auto insurance policies
• Credit card originating
• Credit card processing
• Settlement of bad debt
• Servicing bad debt
Non Compliance of Federal Laws:
Of late, this company has become unpopular because of their unethical behavior. Many people have complained about the company and accused them of inappropriate behavior towards the customers or the borrowers. This essentially violates the Fair Debt Collection Practice Act framed by the Federal Government in the United States of America. Since this company has not complied with the Federal Laws not once but many times, reports suggest that one should exercise extreme caution while dealing with the officials of this company.
Experts’ Opinion:
Experts have advised the following:
• An individual should never give away personal details to this company unless deemed necessary, the SSN or the Social Security Number for instance.
• One should always ask for a debt validation letter
If the borrower feels that there is a dispute in the statement showing the unpaid amount, he may always defend himself by making use of the validation letter. A borrower is entitled to this right as per information contained in the FDCPA.
• Any payment should not be committed without thoroughly understanding the deal.
• Any commitment from their side or from the consumers’ side should be written and documented in a proper manner.
• As far as mails are concerned, the CRRR or the Certified Return Receipt Requested should be activated.
• If there is a violation of the FDCPA, the consumer has all the right to revolt or defend himself.
• There should also be a direct communication with the lender. The reason being if a considerable time has lapsed when the loan was first applied and the first time the default was made, there may be some new policy or scheme to consolidate the debt. By doing so, the borrower can also find out if at all certain charges can be levied up on the borrower by the collection agents.
Often it has been observed that if these collection agencies try to manipulate the debt accounts of borrowers who are not aware that the collection agency is doing so, the borrowers are usually affected in the following manner.
In case the debtor has opted for an unsecured loan and he wishes to repay the outstanding amount within a period of time (for e.g 36months), he may end up paying more due to the manipulation in payment dates. The rate of interest is also a factor in this case.
If the borrower opts for a secured loan (where he keeps a house as the security) and due to some reason or the other, he is unable to repay the unpaid amount; he may land up losing the house in the long run.
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