Back in 1999, I was contacted by a collection agency about an outstanding account with my Chase Credit card. I was just going through a rough divorce and let this one slide. This debt was paid of in full to the collection agency PDI. Then just a few days ago I was contacted by a company called Powersave collections regarding the same account (10 years old!). From doing some internet research I am finding the company to also be called Palisades collection agency.
I also disciovered that are multiple lawsuits filed against this company, their operation is illegal (as the debt they collect on are usually fraudulent, or older debt than the statute of limitations allows in most states.
Here is an interesting report on the company via the link below:
"Palisades was a key player in a long-running scheme with a multi-convicted criminal named Orazio Lembo. He would pay bank employees from Bank of America, Commerce Bank, Wachovia, PNC and several others for personal information, including the social security numbers, of account holders. There were more than 675,000 names in all. Palisades, aka Asta Funding, disguised as a New Jersey law firm named Pressler & Pressler, bought the stolen information, along with several other collection firms, and then used it to harass these people for outdated "
This is only one of MANY reports about the abuses this company is involved in. When is the government going to step in and actually put these people out of business? Are we living in a third world country governed by crime bosses?
Apparently the purchase "junk debt" most of which is fraudulent, past the SOL, or in some cases has already been paid off but not recorded by other unscupulous collection agencies just so they can re-sell the paper debt.
I cannot afford an attorney, nor even if I could, do I think it would help as there are multiple legal actions against this company already. Even action from the Federal Trade Commission!.
Not sure is anything can be done, except to post this in hopes that it helps with someone elses sitution. I can't believe our country allows these scum to feed on the elderly and young and unaware.