News Story (New York)
Melanie Grayce West
Wall Street Journal (WSJ)
March 31, 2018
READ THE FULL STORY HERE
Tags: Debt Collection
Organizations mentioned/involved: New York Legal Assistance Group (NYLAG)
For plaintiffs, the case goes back more than a dozen years. Many were sued by the defendants and never learned of the default judgments against them, according to attorney Danielle Tarantolo of the nonprofit New York Legal Assistance Group who, along with attorneys from the private law firm Hughes, Hubbard & Reed, served as plaintiffs’ counsel on the lawsuit.
Palisades Collection was in the business of purchasing debts from creditors at pennies on the dollar with the hope of fully collecting on the debt, according to the lawsuit. That is a common practice in the debt-collection industry, and collection agencies regularly use court systems to try to collect debts.