I've seen dozens of reports on a company named Palisades operating out of Duluth, GA. This collection agency name is actually a front for their parent corporation OSI Portfolio SVC.
My credit report lists a $50.00 charge for some ATT service that I never used.
I attempted to contact them several times but they would not let me speak to a live person. I was always routed to an inbox somewhere. This took hours of phone calls and never once was I allowed to speak with anyone. I have theories on this I will explain later.
Realizing this may infact be a scheme I conducted some more investigations and contacted the GWINNETT county Police Department. I filed a report and was contacted a week later by a Sergant Rankin (spelling may be wrong here).
He informed me that many reports of this company have come across his desk. He has investigated but can not prosecute them for the crime of Identity Fraud. Like another user of Ripoff reports I believed that this firm had created fake accounts using others identities and then wrote them off.
This is not what happend. According to the sergant I spoke with OSI is a massive company (based in St. Louis) who purchases distressed debt. This is where the story gets tricky.
Back in the late 90's and early 2000's AT&T was investigated by the FCC (Federal Communications Comission) for "slamming". This is where you were signed up for telecommunications services without consenting. So AT&T racked up a large number of "debts" for these fraudulent accounts and eventually sold them to OSI.
OSI has built an entire practice off purchasing these debts and then trying to collect on them. Since these appeared recently I would assume this purchase was in the last 12 months. On my report I noted that the "debt" was from 2000 yet it wasn't reported until 2004!
To recap: AT&T "slammed" those of you that have these marks on your credit report. AT&T knowing they couldn't collect on these debts sold them to OSI. OSI knows these are fraudulent debts but is going to mark your credit report to see if you will pay it to get it off. If you are trying to purchase a home it's in 'your best interest' to just pay the money and get it over with. This is what they want you to believe.
Sgt. Rankin said that all one needs to do is Dispute the charge with the 3 credit agencies and it will be taken off after 30 days. It's not technically criminal what they are doing according to him. It's just very shady, dirty, business practices.
I disagree. If they knowingly purchased these fraudulent debts and are holding your credit report ransom if you don't pay it then it's extortion. I believe we can win a class action law suit. And if it was just some rinky dink operation then it wouldn't matter, but OSI is a massive corporation.
I'm going to post some information below and would like to ask a few things of the readers of ROR (rip off reports)
1) Write letters to the three credit reporting agencies and dispute the charges right away.
2) contact the owner and ask him about these practices
3) contact attorneys in your area (a 10 minute phone call) and ask if they specialize in class action law suits then explain the case as I've outlined above.
THIS IS IMPORTANT IF YOU LIVE IN ST LOUIS
The corporation is based out of St Louis so we likely need to find a law firm there. We have to call every single one possible. If we contact the law firm first, rules state OSI can't legally obtain services from that firm. If the firm says we can't take your case because OSI is our client, then we know who we are up against.
4) look for every posting on the internet (not on ROR of course) and contact email addresses listed to find out interest levels in a class action suit. They apparently bought a bunch of debts from Baily's Fitness as well. I've read a bunch of accounts of stories related to the ATT fraud.
OSI PORTFOLIO SVC
2425 COMMERCE AVE
DULUTH, GA 30096-4980 UNITED