Have anyone heard of Palisades Collection LLC? I just checked my credit report and to my suprise there is a Palisades Collection account on my credit report saying that I owe $473 and that it's seriously overdue. You might of guess this have dropped my credit score drastically. I don't understand how Palisades can add this to my credit report without contacting me first. Isn't it the law for them to notify me first of the debt before they add any negative item to my credit report? Does anybody know how I can fix this? I tried searching for Palisades online to contact them but I can't find their contact information. I'm trying hard to fix my credit and I would greatly appreciate it if anybody could advise me on what to do.
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.
They would need to contact you within five days if it could be construed that their tradeline was the "initial communication." I have seen no authority stating that an entry on a credit report is the first communication. With that said, request validation from them and dispute the tradeline through the CRA's. If they fail to mark it as in dispute or verify any inaccuracy such as "120+ past due," "Open," "Data Factoring," etc., you may consider using this as leverage for deletion or for filing a civil action.
