Author Topic: Pressler & Pressler Midland Funding NJ  (Read 338 times)

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Roozdad

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Pressler & Pressler Midland Funding NJ
« on: March 21, 2017 12:11:11 AM »
Hello

First post to this board and in need of some help.

Had a CC with Credit One that was written off and sold to Midland Funding LLC. Midland placed this debt with Pressler & Pressler for collection. The amount of debt is under $1K. I have a letter dated last week that simply informs me of this fact. Nothing about a potential lawsuit, etc. There's also the boilerplate language about having 30 days to dispute, etc.

I have never disputed any debt although I know where to find the letter templates and samples. Correct me if I'm wrong but I'm thinking that I need to dispute this CMRRR ASAP.

Also correct me if I'm wrong but in NJ this would be filed in small claims court and the court itself would notify me of the lawsuit. I am completely unfamiliar with NJ small claims other than the defendant gets "five progs" for amounts under $3K. I saw the "five progs" on another post on this board. I have no idea what "five progs" means.

I'm also aware of the desirability of forcing arbitration if possible. I have no idea if this is even an option. If it is an option I am unsure how to go about it at this point.

So I'm just looking for some pointers of or suggestions to get started. Any help would be appreciated.

Best Regards
Roozdad

Clydesmom66

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Re: Pressler & Pressler Midland Funding NJ
« Reply #1 on: March 21, 2017 01:07:57 AM »
I have never disputed any debt although I know where to find the letter templates and samples. Correct me if I'm wrong but I'm thinking that I need to dispute this CMRRR ASAP.

Yes it will buy you a small amount of time.  DO NOT use template letters found on this site or the internet.  They are RIDDLED with errors.  Simply send a letter stating you dispute the debt and are requesting validation/verification of that debt.

I'm also aware of the desirability of forcing arbitration if possible. I have no idea if this is even an option. If it is an option I am unsure how to go about it at this point.

The Credit One card agreement excludes arbitration for small claims cases.  You cannot use that strategy.  If they sue you will have to defend it.
Be VERY careful following advice from the internet! What worked for someone with thousands of posts on a message board may not work for YOU in your state.  Consult a lawyer when ever possible.

Roozdad

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Re: Pressler & Pressler Midland Funding NJ
« Reply #2 on: March 21, 2017 01:13:34 AM »
Thank you for the reply. Still trying to figure out what "progs" are. Off to the NJ courts website.

fisthardcheese

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  • They forced arbitration into your contract. Use it
Re: Pressler & Pressler Midland Funding NJ
« Reply #3 on: March 21, 2017 11:17:33 AM »
The Credit One card agreement excludes arbitration for small claims cases.  You cannot use that strategy.  If they sue you will have to defend it.

Op can most certianly use that strategy. There is no lawsuit yet, small claims or otherwise.  If I were Op, I would respond with a dispute"DV" letter, and as soon as they respond, I would file in JAMS immediately.

Once you file in JAMS, they can't sue in court without violating federal law.
10 Arb Settlements (9 AAA, 1 JAMS)
3 JDB Suits Dismissed With Prejudice (2 pro-se, 1 consumer atty)
3 TCPA Settlements (2 pro-se, 1 consumer atty)
2 FCRA Settlements (consumer atty)
1 FDCPA Settlement (w consumer atty)
1 Small Claims Win (pro-se; Landlord/state consumer law violations)
1 State UDAP Settlement (ITS)
1 Federal PTC Settlement (before hearing; pro-se)

Bruno the JDB Killer

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Re: Pressler & Pressler Midland Funding NJ
« Reply #4 on: March 21, 2017 12:43:15 PM »
Thank you for the reply. Still trying to figure out what "progs" are. Off to the NJ courts website.


It's 5 ROGS, or interrogatories. Those are written questions you can send to the other side. You'd be in special civil part, which is small claims.

Do as Cheese suggested....file for arbitration BEFORE they sue, that way you get around the small claims exception and you don't have to deal with the court at all.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

Roozdad

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Re: Pressler & Pressler Midland Funding NJ
« Reply #5 on: March 21, 2017 02:34:06 PM »
This is great - I really appreciate the replies. Now it's time to figure out how to file in JAMS. How do I know to file in JAMS as opposed to AAA? Apologies if I'm being ignorant
 - just trying to get pointed in the right direction.

Regards
Roozdad

fisthardcheese

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  • They forced arbitration into your contract. Use it
Re: Pressler & Pressler Midland Funding NJ
« Reply #6 on: March 21, 2017 04:53:46 PM »
This is great - I really appreciate the replies. Now it's time to figure out how to file in JAMS. How do I know to file in JAMS as opposed to AAA? Apologies if I'm being ignorant
 - just trying to get pointed in the right direction.

Regards
Roozdad

Get a copy of the Credit One card agreement. Read it and it will answer many questions.
10 Arb Settlements (9 AAA, 1 JAMS)
3 JDB Suits Dismissed With Prejudice (2 pro-se, 1 consumer atty)
3 TCPA Settlements (2 pro-se, 1 consumer atty)
2 FCRA Settlements (consumer atty)
1 FDCPA Settlement (w consumer atty)
1 Small Claims Win (pro-se; Landlord/state consumer law violations)
1 State UDAP Settlement (ITS)
1 Federal PTC Settlement (before hearing; pro-se)

Bruno the JDB Killer

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Re: Pressler & Pressler Midland Funding NJ
« Reply #7 on: March 21, 2017 04:55:36 PM »
You can file a case on line with AAA, JAMS has a download for you to use. JAMS is more expensive for the bank and gives you leverage.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

Roozdad

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Re: Pressler & Pressler Midland Funding NJ
« Reply #8 on: March 21, 2017 05:22:07 PM »
Get a copy of the Credit One card agreement. Read it and it will answer many questions.

Have a copy and it references both AAA and JAMS. So here's my understanding of the procedure; please correct me if I'm wrong.

1. Answer Presslers notice (is it a dunning letter?) With a DV letter that also includes my election for arbitration. Sent CMRRR of course.

2. Download JAMS "demand for arbitration" form from their website, prepare it, and mail it along with a copy of the credit one agreement and a check for $250 for the consumer filing fee. Mailed CMRRR of course.

3. Wait?

Again I apologize if I seem ignorant just trying to do this correctly.

Bruno the JDB Killer

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Re: Pressler & Pressler Midland Funding NJ
« Reply #9 on: March 21, 2017 06:10:07 PM »
Before you pay JAMS, look at the agreement. Some of them say the bank will pay your fee if you ask them to. Use JAMS. A good arbitration can cost six figures. They are not going to do this.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

BrokeBob

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Re: Pressler & Pressler Midland Funding NJ
« Reply #10 on: March 21, 2017 06:11:12 PM »
Have a copy and it references both AAA and JAMS. So here's my understanding of the procedure; please correct me if I'm wrong.

1. Answer Presslers notice (is it a dunning letter?) With a DV letter that also includes my election for arbitration. Sent CMRRR of course.

2. Download JAMS "demand for arbitration" form from their website, prepare it, and mail it along with a copy of the credit one agreement and a check for $250 for the consumer filing fee. Mailed CMRRR of course.

3. Wait?

Again I apologize if I seem ignorant just trying to do this correctly.

Almost.

Switch things around a bit, just to buy some time.

If I were in your shoes ( and this is NOT advice, just what I would do),

I would

1.  Start preparing the filings in JAMS.  For a first-timer, you will have questions.  Start on that right away.  you will be working on that during other steps as well.  The idea is to make sure you can file right away when the time is right.

2.  Send off the DV, CMRRR, a little before 30 days from the dunning letter.  Elect arbitration in the DV letter as well. 

3.  Wait to hear back from them.  Polish up your JAMS initiation. 

4.  Sometimes you will never hear back from them.  In that case, don't worry, and you have saved the $250.

5.  Assuming P&P is a law firm, start things in JAMS after you hear back from them. 


There are disagreements as to whether you should pay the $250 right away or wait for a while.  I won't go into that right now.  Bruno made an excellent suggestion.  Investigate that before you pay. 

Roozdad

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Re: Pressler & Pressler Midland Funding NJ
« Reply #11 on: March 21, 2017 07:37:42 PM »
Have the agreement and the arbitration provision states that when the consumer files that the consumer must pay the filing fee unless the creditor finds good reason to pay it instead. JAMS allows for a waiver but only in California and even then only if your income is less than 300% of poverty. Neither applies in my case. So it looks like I need to pay. Not a problem.

I'm just wondering at this point if I send a DV that doesn't include demand for arbitration will P&P initiate legal action right then and there?? If I post a draft of my DV letter hopefully someone will critique it. Either way, you've all been tremendously helpful. I really appreciate it.

BrokeBob

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Re: Pressler & Pressler Midland Funding NJ
« Reply #12 on: March 21, 2017 07:54:55 PM »
In general, if and when they answer the DV, they will give you some time to contact them to work out possible payment options, etc.  Or not.  In general, they will wait at least a few weeks before they file, but there are no guarantees. 

I remember once getting a letter demanding I file in arbitration within 30 days or else they would file suit, so I did. 

That is why it is probably best to file as soon as you hear from them. 

The opinions on DV letters have changed dramatically over the years.

When I first started on this and other forums, the thought was to make the DV letter very complicated.

Now, the idea is to make the DV letter as simple as possible.

Such as:





Dear Evil Debt Collectors,

I dispute this debt and demand validation of this debt. 
I hereby invoke the arbitration clause of the underlying contract, and demand that all disputes be handled by arbitration. 
I revoke any permissions to call my cell phone.
Please make any communications exclusively by US Mail.

Regards,
Alleged Debtor



Or, the even simpler:



Dear Jerks,

I dispute this debt.

-Debtor

fisthardcheese

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  • They forced arbitration into your contract. Use it
Re: Pressler & Pressler Midland Funding NJ
« Reply #13 on: March 21, 2017 08:32:51 PM »
If they don't respond to your DV, then they can't file suit against you without violating federal law.  So they would have to send you "validation" before taking further action.  As soon as I received the validation letter from them, I would file my JAMS case that day.

This is Midland.  They will not arbitrate.  Whatever happens after this point, if I were doing this, I would just make sure I don't let them off the hook until they have paid me a minimum of my $250 back and possibly more depending on their violations up to that point.
10 Arb Settlements (9 AAA, 1 JAMS)
3 JDB Suits Dismissed With Prejudice (2 pro-se, 1 consumer atty)
3 TCPA Settlements (2 pro-se, 1 consumer atty)
2 FCRA Settlements (consumer atty)
1 FDCPA Settlement (w consumer atty)
1 Small Claims Win (pro-se; Landlord/state consumer law violations)
1 State UDAP Settlement (ITS)
1 Federal PTC Settlement (before hearing; pro-se)

Bruno the JDB Killer

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Re: Pressler & Pressler Midland Funding NJ
« Reply #14 on: March 22, 2017 01:14:20 PM »
I would file in JAMS pronto, and forget DV for now. Pressler is rather aggressive, and they read this board. If they think somebody is going to ARB them preemptively, they'll file the case ten minutes later.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

 

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