Pressler and Pressler Law firm

[PatrickM]

I owed Providian about 8 thousand and it was charged off. The law firm Pressler and Pressler just called me at my job and left a message for me to call them.
I checked up on them and it seems they have a really bad rep, if I agree to pay them via checking account how can I be sure they do not take more then they we agree.
I want to arrange to make payments but I am not sure what I can afford at this point. I am just getting back on my feet and I am currently paying other collection agencies every month. I really do not want to file bankruptcy. Can anyone give me advice on the approach I should use with this law firm. I really don't want my salary garnished but I think that is whats on the table. I think they are going to want a considerable amount of cash everymonth. I would start to pay something and then pay them more once I get through with the other agencies. Please any advice will be appreciated. Thanks to all who have shared their stories it has really helped me deal with my financial problems and the mental anguish.

[Rover]

I've read that one should never give any money to a debt collector, which is what Pressler is.

If you want to pay anything, contact Providian and make payment arrangements with them. Otherwise, tell Pressler to hit the road or just ignore them.

BTW, a collection agency can't garnish your wages or file a lawsuit. It's my understanding that the original creditor must file the lawsuit. Then, only after the lawsuit has been lost and a judgment granted can steps be taken to garnish your wages.

Why are you avoiding bankruptcy? Given the limited facts that you provided, it sounds like your credit rating can't be good. I wouldn't think that bankruptcy would make much difference as far as your credit rating is concerned. It would get all the payments that you can't afford off your back though.

[PatrickM]

Thanks for taking the time to answer my post Rover

I work for a CU and I have an outstanding laon with them for 4 thousand that I pay through payroll deduction if I filed for bankruptcy I can't imagine they would see me in the same light as an employee again. I would love to just not list them but that is not allowed so I have to wait untill I am done with that loan I guess. I imagine my credit rating is totally shot.
You say the original creditor can only garnish my wages? If they bought the debt are they the original creditor now? I am just frozen in fear of calling these people. I have read some really bad things about their tactics. I am so paranoid at work, today some one from the legal department in my office had left a message for me that i couldn't play untill after a meeting the whole time I was thinking ok here goes the garnishment. Turns out she needed some files for he pc. I can't go on like this it is too stressfull. I have been having some really bad thoughts in my head lately and it is really scary to be brought to this mindset.

[Rover]

Patrick,

I understand your mental anguish. We are taught to think that we must display the utmost responsibility in every aspect of our life, and if we feel that we have fallen short in some way, we all feel guilt. Howerver, having too much debt is far from the end of the world. You can and will recover.

As for the loan from your employer, I suspect that your employer would be more understanding than you might imagine. Yes, you must list all of your debts on your bankruptcy schedules.

However, you can choose to reaffirm any debt you choose after the filing. That means that you could voluntarily repay the debt to your employer.

If I were you, I would be totally honest with my employer since they will know about the reaffirmation of the loan. I'd go to my boss or Human Resources and explain what you're going to do. People are amazingly forgiving and helpful when they know they are being dealt with honestly. Then, I'd file Ch 7.

As for the garnishment, only the original creditor can file a lawsuit. The collection agency doesn't buy the debt; they would never take that risk -- they'd be nuts to do so. They just try to collect the debt and score a big commission. They have to pay the original creditor the amounts you pay less their commission. When it comes time to sue, the creditor makes that decision. If a collection agency tells you that they are going to sue, they are full of BS and are violating consumer protection laws.

A garnishment doesn't come as a surprise. A lawsuit must be filed. You must be served with a complaint. You then file motions and eventually an Answer. If you lose the suit, the creditor gets a judgment which they must then collect. As part of the judgment collection, the creditor can garnish wages. All of that can take many months.

As for the harrassing calls at work, you can stop them. Look at the thread at the top of this "Collection Problems" topic about how to deal with Collection Agencies. I believe you will find forms and procedures there for stopping the calls.

Personally, if someone can't pay a bill, I see no reason whatsoever to ever talk to a collection agency about the bill.

Hope this helps. Keep smiling.

[PatrickM]

Thanks Rover

Your time and thoughts are really giving me some strength for that I am greatfull, I need to think a little more about this and I can say all you have written makes sense.
I did get a letter that they did purchase the debt from Providian and I also saw on the net that this group P&P has gotten judgements against people it has purchased debts of.

Thanks again.

[Rover]

To learn more, read the about the Debt Validation Strategy.

It seems to me that the issues addressed on that page fit your situation with Pressler & Pressler.

It appears that Pressler has no qualms about lying and misrepresenting the situation. Therefore, make sure that the letter you received stated in no uncertain terms that Pressler did purchase your debt.

[Rover]

Here's a very interesting link related to pressler & pressler:

http://www.geocities.com/presslerclub/

This link explains p&p's con in detail and suggests strategies for dealing with these con artists.

Based on that page and other things I've found, p&p seems to have bought some New Jersey judges.

Fortunately, if you learn how to use the legal system to your advantage, scum like p&p can be stopped.

Perhaps, if you devote yourself to learning how to use the legal system, it will take your mind off the problems you perceive and you will feel better as you gain confidence that you can handle even the most treacherous scumbag shisters and collection agencies.

[edwards2]

Patrick, we have all pretty much been right where you are; for that matter some of us are just now recovering from filing BK. Filing BK is not terminal. It is an emotional, embarrassing and difficult decision but a necessary one for most of us. It does sound like you have grounds to file but of course that is your decision. YOu dont have to keep stressing because BK does offer you a chance to start over. YOu might want to think about that.

[PatrickM]

I figured I would update this with what I did. I sent a response letter asking that they not contact my job. The next week I got a letter from them with an offer to settle the debt for about one hundred less. They were looking for a downpayment I did not have so I did nothing (bad Idea!). The next week while at home on a Monday my son was playing outside when he called me as I came down there was a man who looked like he was living in his car parked at a very strange angle between our driveway and the street cutting off traffic on one side. I knew he was a process server right away and I really was not that concerned I figured he would just hand me the paper and be on his way. Nope the way he parked his car should have told me all I needed to know, he proceeds to shout I mean shout at me the details of the summons in front of my sons friends parents sitting out next door. The original creditor the amount the law firm all for the world to hear, this guy was the town freaking crier.
I was really mad. Well I got up the courage and called them and they agreed to settle for about a hundred less than the original debt. I made the mistake of promising to pay the full amount before a a months time. So far I have paid all but one hundred fifty of it and I got a letter the other day saying they would proceed if I did not pay the rest before 5 PM yesterday. Proceed with what I am not sure but if that guy shows up with a summons again I am going to hose down the front of my driveway with or without his car there.

[CATCHMEIFYOUCAN]

Bankruptcy

I've been through a DMP (Dept Mgmnt Program) almost blew $4000 just to get them to negotiate my credit. I've called my creditors to try and negotiate with them myselves. After much research, Bk was the reasonable option. It's not a bad thing. It's saving my butt from being sued, judged, garnished .. you name it. But as everyone says, the choice is yours! Bk for one makes you go through a CCC (Credit Card Counseling - same thing as DMP but one approved by the courts) and the flat fee is only $50 not $3-4000 like those "outside," programs. And if you aren't eligible to pay back a percentage of your debt (like I was) you get a certificate, than onto the next step, filing! Bk is a workable program, Ch13 is basically the same as a DMP, your still paying the creditors back, whether it is 100% or less (less is better ) than after 3 no more than 5 years, the rest gets discharged! Think about it!

Good Luck, Catchmeifyoucan

[FilingOnMyOwn]

Yeah don't pay them crap.

[GoingDown]

I figured I would update this with what I did. I sent a response letter asking that they not contact my job. The next week I got a letter from them with an offer to settle the debt for about one hundred less. They were looking for a downpayment I did not have so I did nothing (bad Idea!). The next week while at home on a Monday my son was playing outside when he called me as I came down there was a man who looked like he was living in his car parked at a very strange angle between our driveway and the street cutting off traffic on one side. I knew he was a process server right away and I really was not that concerned I figured he would just hand me the paper and be on his way. Nope the way he parked his car should have told me all I needed to know, he proceeds to shout I mean shout at me the details of the summons in front of my sons friends parents sitting out next door. The original creditor the amount the law firm all for the world to hear, this guy was the town freaking crier.
I was really mad. Well I got up the courage and called them and they agreed to settle for about a hundred less than the original debt. I made the mistake of promising to pay the full amount before a a months time. So far I have paid all but one hundred fifty of it and I got a letter the other day saying they would proceed if I did not pay the rest before 5 PM yesterday. Proceed with what I am not sure but if that guy shows up with a summons again I am going to hose down the front of my driveway with or without his car there.

Wow, I've never heard of something like this happening. That's a very unprofessional process server.

Most of the people who serve process around here are sheriff's deputies and constables, and they don't shout at us, but the fact that they wear a uniform is a dead giveaway. I'm not too worried about what my neighbors think about seeing a constable show up at my front door, because most of them don't like me anyways.

But still, that is really outrageous to get the process servers involved in browbeating the debtor and acting as de facto collection agents. Is there any way to file a complaint against that process server?