How To Deal With Pressler, Felt & Warshaw LLP Debt Collection

Pressler, Felt & Warshaw LLP is a debt collection law firm. They represent creditors, debt collectors, and debt buyers.

Pressler mostly collects consumer debts like past-due credit card debt. They may contact you to collect a debt or notify you about a lawsuit.

If Pressler, Felt & Warshaw reaches out, validate the debt first. You have options including disputing the debt or negotiating a settlement.

What Is Pressler, Felt & Warshaw LLP?

Pressler, Felt & Warshaw LLP is a law firm collecting consumer debts. They work on behalf of creditors or debt collectors.

Most debt collection companies buy debts from original creditors. Pressler operates differently as a law firm representing clients.

Because they’re a law firm, their main strategy involves filing lawsuits. They aim to get wage garnishment orders from the court. Sometimes they also collect debts directly from consumers using their online payment system.

The company was formerly called Pressler and Pressler LLP. They’re located in Parsippany, New Jersey.

Why Is Pressler, Felt & Warshaw LLP Contacting Me?

Pressler contacts you to collect a debt. You might think you don’t owe Pressler anything.

Remember, they’re contacting you on behalf of their clients. Their clients are creditors and debt collectors.

Pressler may reach out to set up a payment plan. They may inform you they’ve taken legal action against you.

If they sue you, you’ll receive formal court documents. These include a summons and complaint detailing their case.

Is Pressler, Felt & Warshaw LLP Legit?

Yes, Pressler, Felt & Warshaw is a real debt collection business.

However, several consumers have filed complaints against Pressler. Common complaints include:

• Difficulty contacting Pressler for more information
• Attempts to collect debts not owed
• Threats of illegal action

The Better Business Bureau has logged more than 90 complaints in three years. Consumers have filed over 700 complaints with the Consumer Financial Protection Bureau since December 2011.

Many complaints point to violations of the Fair Debt Collection Practices Act. Federal law prohibits third-party debt collectors from misleading, harassing, and threatening consumers.

Though Pressler is a real company, know the red flags of debt collection scams. Scammers use real company names like Pressler to trick consumers. Always validate the debt first.

Do I Have To Pay Pressler, Felt & Warshaw LLP?

Maybe, but validate the debt first. Debt collectors like Pressler contact many individuals with high volume.

Mistakes and errors are common in this system. Send a debt verification letter to ensure they have correct facts.

If Pressler can’t prove the debt is yours, you don’t need to pay. You can inform Pressler in writing to stop contacting you.

Send a Debt Verification Letter

If Pressler contacts you about a debt, they must send documentation. They need to send you a debt validation letter within five days of initial contact.

If they don’t, you can send Pressler a debt verification letter instead.

After Pressler sends a debt validation letter, you have 30 days to dispute. If you file a dispute, Pressler must pause collection activities while they investigate.

If they can’t validate the debt within 30 days, you probably don’t need to pay. If they do validate it, decide your next step.

Decide Your Next Move

Once Pressler validates the debt, you choose your next action. You can:

• Dispute the debt
• Negotiate a debt settlement
• Ignore the debt (not recommended)

Option 1: Dispute the Debt

If Pressler validates the debt, you might still disagree. You might disagree with the amount or that you owe it.

You can file a dispute with the company.

If Pressler has inaccurate information, check your credit report. They or the creditor may have reported incorrect information to credit bureaus.

The Fair Credit Reporting Act gives you the right to dispute errors. Send a 609 letter to each of the three major credit bureaus.

Option 2: Negotiate the Debt and Make a Settlement Offer

In an ideal world, you could pay off debts in full. If you have the money and want resolution, do this.

For many people, full payment isn’t financially feasible. Many debt collectors settle debts for less than the full amount. Sometimes they accept just 40 or 50 cents on the dollar.

Debt collectors often purchase debts for a small fraction of the original amount. They represent creditors and receive a percentage of money recovered. Collecting less than the full amount can still generate profit.

If you want to negotiate with Pressler, start by offering 25% or 30%. Pressler may reject this offer initially. After some negotiating, they may agree to settle for around half.

Can You Negotiate Every Past-Due Debt?

Not all past-due debts are negotiable. The most common consumer debts usually are negotiable. Credit card debt and personal loans typically can be negotiated.

Secured debts usually aren’t negotiable. Secured debt is backed by collateral. The two most common types are mortgages and car loans.

If you don’t pay these loans, creditors can foreclose or repossess. These creditors don’t have incentive to settle for less. They’ll just reclaim the property.

Federal student loan debts also aren’t negotiable. If you’re struggling to repay your loan, student loan forgiveness programs are sometimes available.

Option 3: Ignore the Debt (Not Recommended)

It’s technically possible to ignore Pressler’s collection attempts. However, it’s a bad idea.

Ignoring debt problems makes them worse. It creates more stress and anxiety about money. Debt collectors don’t give up easily.

What Happens if I Ignore Pressler?

If you ignore Pressler, Felt & Warshaw LLP, expect negative consequences:

• A lower credit score
• A bigger debt from interest, fees, and legal costs
• A lawsuit leading to bank account or wage garnishment

There’s a myth that debts go away after seven years. Debts may fall off your credit report after seven years. However, the underlying debt may remain.

If the debt isn’t past its statute of limitations, Pressler can still sue you.

Does Pressler, Felt & Warshaw LLP Sue?

Yes, Pressler, Felt & Warshaw LLP can sue consumers. Suing won’t always be their first option. It’s quicker and cheaper to send letters and make phone calls.

Debt collectors consider several factors before suing:

• The amount of the debt
• The age of the debt and statute of limitations deadline
• Whether you have other unpaid debts
• Whether they can recover attorney’s fees and court costs
• Applicable state laws concerning interest rates and wage garnishment
• Whether there’s a written contract or evidence
• How easily they can prove the debt is valid

If Pressler sues you, you’ll learn about the lawsuit when they serve you. You’ll receive a complaint and summons by mail or in person.

You need to submit a response to court to avoid losing by default. You can respond to the complaint yourself or hire an attorney.

If you’re worried about responding alone but can’t afford a lawyer, our partner Solo can help you draft an answer letter. They’ve helped 234,000 people respond to debt lawsuits with a 100% money-back guarantee.

Take Action on Pressler Debt Collection

Pressler, Felt & Warshaw LLP is a debt collector and law firm. They may sue you to collect outstanding consumer debts.

If they contact you, ask them to validate the debt before paying anything. If you owe the debt and want to settle, negotiate a settlement agreement. You may be able to pay less than the full amount.

Don’t ignore Pressler’s attempts to contact you. Taking action now protects you from lawsuits and wage garnishment. You have rights under federal law and options to resolve the debt.