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I just got a letter from Palisades Collection saying they just bought my debt from Chase (OC). I sent them a DV letter. I have a couple of questions. Should Chase now update the their listing on my credit report and I should see a new one from Palisades?
My second question is has anyone ever settled with these guys and what % should I expect (the debt is around $10,000).


If Chase sold the account, their tradeline should show a $0 balance and a sold/transferred notation. Palisades tradeline will likely show up soon. Make sure that they are reporting it correctly. What state do you live in? When was the last time you paid on the account? If they still have legal standing to bring suit, you're not in as good of a bargaining position.

Sub: #1 posted on Wed, 09/03/2008 - 08:48

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Palisades is known for breaking fdcpa rules. Keep a log of any calls you get, what is said and by whom. You may develop a case against them for leverage.
Read about them on this link.

Sub: #2 posted on Wed, 09/03/2008 - 09:34

Frogpatch Frogpatch
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