Who Is The Palisades Collection Agency?
Palisades Collection Agency is one of many debt collections agencies currently operating in the United States. Just performing a simple internet search for this company brings up many thousands of results, and here we take a closer look at the company in question, and what you can do if they contact you regarding a debt that you owe.
There are several business names that you can find Palisades Collection Agency associated with, with the main one being Asta Funding. The headquarters is listed at Englewood Cliffs, NJ, though it is unclear whether this address relates to Palisades, Asta Funding or to both of the companies.
Palisades describe themselves as an ‘American diversified financial services company’. They buy, sell and collect unpaid credit card debts and consumer loans, and provide their customers with a full range of services in the field of debt collection.
Debt collections companies such as Palisades often purchase bad credit card debts at vastly reduced rates from credit card providers. The providers are looking to write off the debt and recover just a small amount of money in return, so the debt collections agency will often pay just a few cents for every dollar owed.
They will then go about the process of trying to recoup the money from the original debtor. As they will be making more profit for every dollar that they get back, they will often use strong-arm tactics when dealing with the customer, such as threatening them with court action. It is practices such as these that give debt collection companies bad reputations.
If you are contacted by Palisades Collection Agency, the best strategy is to remain calm. It is important that you attempt to come to an agreement over the money, but not to put yourself in a position whereby you cannot honor an arrangement you have made.
It is vital to understand that debt collections companies are governed by laws that prohibit certain practices. In the United States, the Federal Trade Commission are the regulator of collection agencies, and a body who can be contacted if you feel that the Palisades Collection Agency (or any other collections company) have overstepped the mark.
It is strongly advised that if you are contacted by an agency regarding a debt that you owe, you familiarize yourself with The Fair Debt Collection Practices Act. This is the primary federal law regarding the act of debt collection, and any company breaking its stipulations can be heavily punished.
If the Palisades Collection Agency contacts you over a debt, do not stick your head in the sand. Learn what they can and cannot do, and attempt to come to an agreement that suits all parties concerned.
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