I began receiving calls from this company in reference to my Discovercard account. At the time I lost my job I owed approx. $5,000. By the time I was sued by Weltman, Weinberg & Reis they claimed I owed close to $7,000. I contacted them in an attempt to resolve this matter and was advised to write a hardship letter detailing my situation- job loss, health problems, etc. I did so and offered them $2,000 to settle the matter. They declined and refused to work with me or make a counteroffer. They told me I would just have to take my chances in court.
I asked how the court process worked since I had never been sued before and they lied to me, and basically insinuated that I could just wait for the court date. WRONG. You have 20 days to respond after being served, if you fail to respond they automatically get a judgement against you. They were obviously hoping I wouldn't figure that out and would sit back and do nothing. In PA they are allowed to levy your bank account and put a lien on your home after they get a judgment against you. Clearly they wanted me to simply let the clock run out so they could do this to me as they've done to countless other poor people.
Weltman, Weinberg & Reis does not purchase debt from the creditor, they actually represent the creditor, in this case Discovercard. They produced original loan documents and monthly bank statements. They have a high success rate for suing people, which is why they love to sue people.
Why would a company take the last couple hundred dollars in your bank account? Greed. Why wouldn't they negotiate with you for a reasonable settlement? Greed. I do not expect anyone to feel sympathy for me, however this is just bad business. You can ask an idiot would you rather have $2,000 or nothing and the idiot would say $2,000 of course. Settlements are common in business and everyone makes settlement agreements. Not this company, they want it all. I had other credit cards and debts too, obviously. I grew tired of the harassment and heavy weight on my shoulders. When your income is cut by over half you have few choices. So I filed bankruptcy, that stopped all collection activity dead in its tracks. They will not be getting a judgment against me and taking the last small amount of money I have to live. So now Weltman, Weinberg & Reis you get nothing. Happy now?