I received a mail from Palisades Collection
Date: Wed, 09/05/2007 - 20:02
After setting up arrangements with past due creditor,
I received a statement in the mail from Palisades Collection showing my payments made and my balance.
In 2 months I have paid them over $200.00 and they show my balance as only $26.00 less!!!! I set up arrangements for them to take payments automatically from my checking account, thinking all my payments would go towards the principal. This account is an old AT&T account.
I was never told I would pay interest and I've never heard of such a thing. Are they allowed to do this? Can I stop payment on the remaining 7 checks that I made arrangements with them on? My balance should be $250.00 less than the original balance. Not only $26.00! Can someone advise me how to handle this? By the way...how do all those people that work for that collection agency sleep at night???
reply
auburn, welcome to the forum! :D I unfortunately am not an expert regarding your particular situation. However, one of the forum members will be along to answer your questions and give you advice on what you should do. Hang in there. Someone will be along shortly to help you out!
Just curious, why did you make payment to the collection agency
Just curious, why did you make payment to the collection agency when you already had the arrangement done with the original creditor? There are too many complaints against Palisades Collections about their illegal collection business and not posting the money towards the accounts. Get the proof of your previous payments and make Palisades post your payments towards the account. You should also ask them to send you details of the current status showing interests charged on the principal amount. You need to review the file before making a payment again. I am not sure whether you will be able to work out any arrangement with AT&T because in most cases, the files that are sent to Palisades are mostly sold by AT&T.
Depending on your state law you can and will be charged intrest
Depending on your state law you can and will be charged intrest on utility bills that go unpaid.
