Complaint / Review
Pressler & Pressler
New Century Financial Services Some More Toxic waste of Collections

Here is how they work. An old credit card or loan company sells its list of bad debts to collection agency A who sells it to collection agency B who sells it to collection agency C who sells it to New Century. New Century usually says in it's complaint that "we have purchased the debt" leaving the impression that they bought it from the credit card or loan company. They usually do not have proof of the alleged debt (i.E. The contract) which is required, nor can they prove that they are the the new owners of the alleged debt. I suspect that New Century is a front for Pressler as Pressler cannot buy alleged debts and then sue in their own name. They set up New Century so they can buy debts which were written off by the original creditor. THIS IS FRAUD! Pressler is notorious for violating the Fair Debt Collection Practices Act!