CFPB Debt Collection Complaint Ranking*:
#72 of 2,458 Companies
Lawsuits, Penalties, or Sanctions:
In announcing a 2016 consent order against Pressler and Pressler where the Government found that it made false or empty allegations about consumer debts, filed lawsuits based on unreliable or false information, and harassed consumers with unsubstantiated court filings, CFPB Director Cordray commented:
“For years, Pressler & Pressler churned out one lawsuit after another to collect debts for New Century that were not verified and might not exist. Debt collectors that file lawsuits with no regard for their validity break the law and violate the public trust. We will continue to take action to protect borrowers from abuse.”
The Federal Trade Commission and the CFPB filed a joint amicus brief in support of Bock, when Pressler filed an appeal to the Third Circuit Court of Appeals. The Third Circuit heard oral arguments in the case on November 10 2015.
Location and Contact Details:
7 Entin Rd.
Parsippany, NJ 07054-5020
Phone: (973) 753-5100
Fax: (973) 753-5353
Sheldon H. Pressler, Principal
Gerald J. Felt, Esq., Partner and Ethics Contact
Business Model:
Founded in 1930, Pressler and Pressler, LLP is managed by Sheldon H. Pressler. Specializing in retail collections in New York and New Jersey.
Pressler was in a First Amendment battle with a New Jersey blogger who posted information about Pressler’s questionable collection practices.
When challenged by an alleged debtor to prove that Pressler owned the debt it was trying to collect, Pressler cited to Wikipedia as part of its defense.
* Ranking determined by the overall number of debt collection complaints to the Consumer Financial Protection Bureau (CFPB) as of year-end 2015 and should be considered in context of company size and/or market share. See the CFPB debt collection complaint database in real-time here.
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