Palisades Collection Class Action Lawsuit

Palisades Collection Class Action Lawsuit Loans

The Palisades Collection Class Action Lawsuit claims that seven named plaintiffs from the Palisades Collection Class Action Lawsuit are owed money by Palisades Credit Card Company, its current owner. The complaint further states that defendants did not respond to prior communications from the plaintiffs, and plaintiffs were then illegally forced into bankruptcy for non-payment. Seven named plaintiffs are individually Pursuant to the complaint herein. These include: David Rago, Mark Ginsberg, Edward Trudel, Robert Wegner, Ronald Taggert, and Josephine Lee. All of these plaintiffs were either late, missed, or never paid monies owed by defendant Palisades.

Upon discovery, it was learned that defendant had, in fact, been in violation of New York statutes regarding the recovery of debts.

On information and belief, the foregoing facts also constitute substantial evidence of the likelihood of the class action lawsuit being successful. Accordingly, the complaint has been filed in the above-named state court. Further, the complaint includes a certification by the class counsel as to the likelihood of class members receiving class member payments.

Attached hereto is additional supplemental information.

Among other things, this information reveals that a substantial number of Palisades Collection Class Action Lawsuit plaintiffs have been owed money by defendant, and consequently, have been forced into bankruptcy. It also indicates that the majority of the class members have been either late, missed or did not receive monies when they were supposed to. On information and belief, it also indicates that most of the class action lawsuit plaintiffs have been injured as a result of defendant’s negligence. For the foregoing reasons, it is believed that this case is ripe for certification as a class action lawsuit.

Assuming that this is a valid Palisades Collection Class Action Lawsuit, there are at least two likely outcomes if the complaint is approved as a class action lawsuit.

(1) If the complaint is approved, the defendant will be required to post a cashier’s check for monies received from the class action suit; (2) if the complaint is not approved, the defendant will be required to post a million dollar settlement to satisfy the debt. If the plaintiff receives a settlement, the defendant will be liable for the entirety of the defendant’s malpractice debt. (As noted above, if the complaint is not approved, the defendant would be liable for only the innocent third-party debt that was not reflected on the defendant’s balance sheet at the time of the filing.)

There are various class action lawsuits currently pending in different courts across the country.

Some of these cases have been resolved satisfactorily, and some have not. (Class action lawsuits are also referred to as “pure Class Action” suits.) The most significant difference between an in an up-front palisade collection situation, and a pure class action lawsuit are that the plaintiff is not required to repay the money received from a judgment to the funds obtained from a palisade settlement. Pure class actions, typically, require the plaintiff to pay off the debt before receiving any monies. (There are exceptions to the above rule, however.)

The most significant distinction between palisade settlement vs. class actions, is that the plaintiff does not have to pay the monies received from the settlement (the money to pay the judgments against the defendants). (That is why they are called “monetary damages” judgments.) Instead, the money received by the class members must be paid directly to the defendants or their insurance carriers. (The insurance carriers are called “insurance companies.”)

According to the U.S. Bureau of Labor Statistics, there are currently 2.4 billion workers who receive one or more pink slips through wage garnishment.

While the majority of pink slip notifications result in nothing, the Bureau of Labor Statistics projects that the number of such notifications will increase substantially over the next decade. This would lead to an incredible rise in lawsuits filed by current and former U.S. residents who receive such notices after they’ve been hit with their minimum-payout wages.

There are class counsel services that help individuals to settle their personal debts. (Class action lawsuit funding and class action settlement loans are not professional legal services. Such loans are for individuals who can demonstrate an immediate need for such funding and either do not have the resources available to meet their obligations or cannot otherwise afford to fulfill the obligations set forth in their individual financial agreements.)

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