• Report: #463166

Complaint Review: Pressler And Pressler - New Centuryfinancial Services

  • Submitted: Sat, June 20, 2009
  • Updated: Wed, July 01, 2009

  • Reported By:port monmouth New Jersey
Pressler And Pressler - New Centuryfinancial Services
16 Wing Drive Cedar Knolls, New Jersey U.S.A.

Pressler And Pressler - New Centuryfinancial Services Took monies out of my bank acct. Knowing I am on SS and compensation which are exempt they are not allow to do that which cause me more expense in bank over drawn Cedar Knolls New Jersey

*Consumer Suggestion: Liars

*Consumer Comment: Answer

*Consumer Suggestion: Suggestion

*Consumer Suggestion: Suggestion

*Consumer Suggestion: Suggestion

*Consumer Suggestion: Suggestion

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They have been trying to collect this money which I claim bankruptcy back in 2003 the money is credit card debts I am disabled and live on a fixed income I try doing the right thing by claiming bankruptcy but was incarcerated right after and it got dismissed without my knowledge. they have lied , had me taken to court house ,said I didn't go to court when I did go .I want to know if they can take my homeand what I can do they are rootless people they prey on the underclass and disabled as well as the un educated in this area would appreciate any advice or help thanks for listening disabled Debi Port Monmouth N.J.

Debi
port monmouth, New Jersey
U.S.A.

This report was posted on Ripoff Report on 06/20/2009 03:17 AM and is a permanent record located here: http://www.ripoffreport.com/r/Pressler-And-Pressler-New-Centuryfinancial-Services/Cedar-Knolls-New-Jersey-07927/Pressler-And-Pressler-New-Centuryfinancial-Services-Took-monies-out-of-my-bank-acct-Kno-463166. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Suggestion

Liars

AUTHOR: Stuart - (U.S.A.)

"...said I didn't go to court when I did go..." Debi, they did the same lie on me. You can cite them for mail fraud (if you got lied to by mail) by reporting them to the FTC and the Post Office.
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#2 Consumer Comment

Answer

AUTHOR: Tim - (U.S.A.)

Hey there Debi,

First, since your bankruptcy case was dismissed, it is irrelevant that you ever filed for bankruptcy protection.

Can they take your house? Probably not, unless you owe them a very substantial debt and have a great deal of equity in the home.

Assuming that they have or will have a judgment against you, they can place a lien against the home. The effect of such a lien would be similar to a second mortgage (but without the payments). If you were to sell the home, P&P would be entitled to payment from any sale proceeds left over after the purchase money mortgage is paid off.

To give an example of how this would work, imagine 1) that your house is worth $150,000 and you have an outstanding mortgage balance of $100,000; and 2) P&P has a $25,000 judgment against you and has filed a lien against the home.

This leaves you with $25,000 in equity whereas, without the judgment lien, you would have $50,000.

If you sell the house for its $150,000 value:
1) The bank gets $100,000 to pay off the mortgage;
2) P&P gets $25,000 to pay the judgment; and
3) You get $25,000 to take a very nice vacation in Vegas (or I suppose you could use it for a down payment on a new home).

Also, don't forget that you are probably eligible to file bankruptcy again. That may not be your best option, but don't rule it out.

Best of luck!
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#3 Consumer Suggestion

Suggestion

AUTHOR: Stuart - (U.S.A.)

Contact the bank and Legal Services
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#4 Consumer Suggestion

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AUTHOR: Stuart - (U.S.A.)

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#5 Consumer Suggestion

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AUTHOR: Stuart - (U.S.A.)

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#6 Consumer Suggestion

Suggestion

AUTHOR: Stuart - (U.S.A.)

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