I had a collection that I paid off in September of 2006. The account was closed in July of 2007. The amount was $124 and it was for a charge on my AT&T cell phone account which I cancelled earlier than the agreed contract period. Palisades continues to update my credit report with this negative information causing my credit report to be lowered. It was updated last in May of 2010. It should not continue to be showing up as new info since it was paid off. I know it remains for 7 years but should it continue to be updated every 3 months or so???? read full review »