Prestige Services Inc Debt: How to Resolve It

Dealing with past-due debts can be challenging. Prestige Services, Inc. (PSI) may be contacting you about unpaid amounts. You have options to resolve this situation.

PSI focuses on commercial debt recovery. They work diligently on behalf of their clients to collect unpaid amounts. While their efforts can feel persistent, you can take steps to find a resolution.

PSI Suing You? Respond Before the Deadline

Don't let Prestige Services win by default. Our partner Solo helps you file your Answer quickly and correctly. Protect your business rights before time runs out.

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What Is Prestige Services Inc.?

PSI is a nationwide and international commercial debt collector. Their headquarters are in Omaha, NE. Rather than focus on consumer debt, PSI collects for businesses. PSI has been in business for 27 years.

Here’s the Prestige Services, Inc. contact information:

Address: 21214 Schofield Drive, Gretna (Omaha), NE 68028
Phone: 800.523.2797
Email: mail@psicollect.com
Website: https://psicollect.com/

Pre-Collection Services

PSI helps creditors with more accounts than their staff can handle. They act as an extension of the creditor’s office. The company contacts the debtor three times in three months.

Investigation Process

When a creditor places an account with PSI, they investigate first. The company determines whether the debtor is a corporation, partnership, or sole proprietor. PSI uses skip tracing to discover debtors’ new addresses and phone numbers.

Collection Begins

Once PSI begins the collection process, regular communication starts. You’ll receive phone calls and written notices. The goal is to work toward resolving the debt.

Post-Judgment Actions

If a debt remains unpaid, PSI may involve its legal team. After a successful lawsuit, PSI may use bank account garnishment. They use all available avenues to recover outstanding debts.

Who Does Prestige Services, Inc. Collect For?

PSI primarily helps businesses recover unpaid commercial debts. They work with a wide range of clients:

Retailers: Businesses with outstanding invoices for goods sold
Manufacturers: Companies seeking payment for shipped products
Service Providers: Firms offering legal, accounting, or consulting services
Medical Offices: Healthcare providers with overdue bills
Small and Medium Businesses: Enterprises managing accounts receivable

If you see PSI on your credit report, your business likely owes another company money.

Read Prestige Services, Inc. Reviews Online

Reviews help you understand how a company operates. However, debt collection reviews often receive mixed reactions. Consumers often feel overwhelmed by debt. Here are sources to check what consumers say about PSI:

Better Business Bureau customer reviews
Google business reviews

Resolve a Debt With Prestige Services, Inc.

The Fair Debt Collection Practices Act (FDCPA) does not apply to commercial debts. The protections under the FDCPA don’t apply when dealing with PSI. However, you can still find a solution.

The Commercial Collection Agency Association (CCAA) sets standards for its members. These guidelines are similar to FDCPA rules. They aim to ensure fair treatment during collection.

If you have a business debt that’s difficult to pay, try one of the following remedies.

Negotiate a Settlement With PSI

PSI acknowledges that some debtors cannot fully pay their accounts. They are sometimes willing to accept less than you owe. Our partner Solo can help you negotiate and settle your debt effectively.

Here are steps to work towards settling with PSI:

Review the details of the debt you owe. Make sure the amount PSI claims is correct. Request a debt validation letter to ensure legitimacy.
Take stock of your finances. Determine how much you can afford to pay. Be honest about what you can realistically manage.
Contact PSI to discuss your options. Propose a new payment plan or negotiate a lump-sum settlement.
Get a written settlement agreement before making any payments. The agreement should outline all terms clearly.
Stick to the terms and make payments on time. Missing payments can lead to legal actions.
Request written confirmation that the debt is settled in full. Keep all documentation for your records.

After settling your debt, monitor your credit report. Ensure the settlement is accurately reflected. Contact PSI and credit bureaus if you find discrepancies.

Dissolve the Business

If the business is a corporation, you can dissolve it. PSI can only come after business property, not your personal belongings. An exception exists if you personally guaranteed the loan.

File for Bankruptcy

Your business can file for Chapter 7 or Chapter 11 bankruptcy. You may have protection from further debt collection efforts. Chapter 7 closes down the business and discharges debts. Chapter 11 allows you to reorganize debts while continuing operations. A bankruptcy attorney can point you in the right direction.

Consider a Merchant Cash Advance

If your business lacks capital rather than underperforming, you can seek quick financing. Some companies offer merchant cash advances to pay debts. Proceed cautiously and understand the total costs. Examine the cons before you sign up.

Respond to Debt Collection Lawsuits

Commercial debt lawsuits follow a similar pattern as consumer debt:

PSI attorneys file a complaint in court
They serve you the papers
You respond to the lawsuit
The court sets a hearing date
The judge decides the case

Many debtors do not respond to the Summons. Default judgments happen more often than necessary because of this.

Respond to Prestige Services, Inc. Debt Lawsuit

If PSI sues you, your best defense is filing an Answer. Our partner Solo provides a step-by-step web app to guide you. You must respond within the deadline.

Creating your response takes three steps:

Respond to all the complaints against you: The lawsuit includes a formal Complaint outlining PSI’s claims. Respond to each accusation addressing every point. You can agree, deny, or claim insufficient information. Failing to respond leads to a default judgment.
Assert your affirmative defenses: State reasons why you shouldn’t owe the debt. Examples include expired statute of limitations, inaccurate amounts, or already paid. State these defenses clearly in your response.
File your Answer with the court and PSI’s attorneys: File your official Answer with the court. Send a copy to PSI’s attorneys as well.

Following the court’s rules for filing ensures proper documentation. The court knows you’ve responded and are asserting your rights.

You are likely to hear from PSI if your business is in debt. You can still hold PSI accountable under commercial debt collection laws. Understanding your rights makes the process easier.

Frequently Asked Questions

What is Prestige Services, Inc. and what do they collect?

Prestige Services, Inc. (PSI) is a commercial debt collector based in Omaha, NE. They collect unpaid business debts for retailers, manufacturers, service providers, and medical offices. PSI does not typically collect consumer debts.

How do I negotiate a settlement with Prestige Services, Inc.?

First, request a debt validation letter to verify the debt is accurate. Assess your finances to determine what you can afford. Contact PSI to propose a payment plan or lump-sum settlement at a reduced amount. Get all settlement terms in writing before making any payments.

Can I be personally liable for business debt collected by PSI?

If your business is a corporation, PSI can only pursue business property, not personal belongings. However, if you personally guaranteed the loan, you may be personally liable. Consult with a business attorney to understand your specific situation.

What happens if I don't respond to a Prestige Services lawsuit?

Failing to respond to a PSI lawsuit leads to a default judgment against you. The judge will rule in PSI's favor without hearing your side. PSI can then use collection methods like bank account garnishment to recover the debt.

How do I respond to a debt lawsuit from Prestige Services, Inc.?

You must file an Answer with the court within the deadline stated in your Summons. Your Answer should respond to each complaint, assert affirmative defenses, and be filed with both the court and PSI's attorneys. Our partner Solo provides tools to help you create your Answer.

How to Resolve Debt With Prestige Services, Inc.