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Palisades Problem?


somanymistakes
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I have been reading over all the threads about Palisades and do not know what to do. I received two identical letters from them very recently stating that they purchased a Bank One account. Then there was a paragragh about reporting information to the credit bureaus and blah blah. There was never a request for money but there was a phone number listed if I had any questions. Do I send them a DV based on this? Will this cause them to just file a suit with someone like Wolf &A? I have been contacted by other CA's regarding this and have sent them DV's--no one has ever validated- it just seems to get bounced around. I do not want to push my luck with Palisades and force an ugly lawsuit with their hired gorillas. So do I DV or wait for another letter that requests money?

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It is my opinion that if a creditor is willing to sue you, they will do so no matter what the consumer does or doesn’t do (other than, of course, paying whatever they request the moment they request it).

Debts don’t often just “go away”, at least not if the amount of $ involved is significant and/or if the Creditor/CA thinks he has a reasonable chance of walking away with some money if they sue. Therefore, I would never let the fear of a potential lawsuit stop me from going through the debt validation process or doing whatever else is necessary to protect my rights.

Beyond that, whenever you are dealing with someone other than the original creditor, even if you are sure a debt is legitimate and you have the money and intent to pay it, you still, at a minimum, need to make sure that you are paying the correct amount to the entity that has the legal authority to collect.

The creditor has the burden of substantiating certain facts about a debt; whether they do so through the DV process and/or through discovery and/or in front of a judge you still need to make them do it.

In other words, for many reasons, I would always rather be proactive in these situations than reactive.

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