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How to Resolve Debt With Prestige Services, Inc.

George Simons | January 31, 2025

George Simons
Co-Founder of SoloSuit
George Simons, JD/MBA

George Simons is the co-founder and CEO of SoloSuit. He has helped Americans protect over $1 billion from predatory debt lawsuits. George graduated from BYU Law school in 2020 with a JD-MBA. In his spare time, George likes to cook, because he likes to eat.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: If Prestige Services, Inc. contacts you about a debt, there are ways to resolve the matter, including debt settlement or responding to the lawsuit. Solo makes it easy to send an Answer to a lawsuit.

Dealing with past-due debts can be challenging, especially when facing collection efforts from companies like Prestige Services, Inc. (PSI). Whether your debt involves a business or personal guarantee, understanding the collection process and your options can make all the difference.

PSI focuses on commercial debt recovery, working diligently on behalf of its clients to recoup unpaid amounts. While their efforts can feel persistent, there are steps you can take to handle the situation and find a resolution that works for both parties. Let’s explore who PSI is, how they operate, and ways you can manage your debt.

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What is Prestige Services Inc., and what does it do?

PSI is a nationwide and international commercial debt collector headquartered in Omaha, NE. Rather than focus on consumer debt, PSI collects for businesses to which other companies owe money. PSI has been in business for 27 years.

Here’s the Prestige Services, Inc. phone number and other contact information:

Prestige Services, Inc. offers the following services:

Pre-collection services/ account receivable outsourcing

PSI helps creditors with more accounts than their in-house staff can handle. They act as an extension of the creditor's office. It charges creditors $10 for every debt they track for three months. The company contacts the debtor three times in the same period.

Investigation

When a creditor places an account with PSI for collection, the company first determines whether the debtor is a corporation, a partnership, or a sole proprietor. This information directs them to who they should contact. If the business isn't a corporation, PSI then moves to locate the owner(s). The details they look for are home addresses, social security numbers, and more. PSI uses skip tracing to discover debtors' new addresses and phone numbers.

Collection begins

Once Prestige Services, Inc. (PSI) begins the collection process, regular communication will be initiated based on the information gathered. This typically includes phone calls and written notices to keep you informed and address the outstanding balance. The goal is to stay engaged and work toward resolving the debt.

Post-judgment actions

If a debt remains unpaid, PSI may escalate the matter by involving its legal team. In the event of a successful lawsuit, PSI may use methods such as bank account garnishment to recover the owed amount. This approach highlights PSI’s commitment to helping its clients resolve outstanding debts through all available avenues.

Who does Prestige Services, Inc. collect for?

Prestige Services, Inc. (PSI) primarily focuses on helping businesses recover unpaid commercial debts. They work with a wide range of clients, including:

  • Retailers: Businesses that sell goods to consumers or other businesses and have outstanding invoices.
  • Manufacturers: Companies that supply goods to distributors or retailers and are seeking payment for shipped products.
  • Service Providers: Firms offering professional services such as legal, accounting, or consulting and are owed fees.
  • Medical Offices: Healthcare providers that need assistance collecting overdue bills.
  • Small and Medium Businesses: Enterprises across various industries that require support in managing accounts receivable.

If you see PSI on your credit report or receive a lawsuit letter from them, your business likely owes another company some money.

Read Prestige Services, Inc. reviews online

Reviews help you have an idea of how a company operates. However, in debt collection cases, their work often receives mixed reactions because consumers often feel overwhelmed by debt. But if you approach the situation with a mindset desiring to get out of debt your experience may be more pleasant. Here are online sources to interact with what consumers say about PSI:

Resolve a debt with Prestige Services, Inc.

The Fair Debt Collection Practices Act (FDCPA), which regulates consumer debt collection, does not apply to commercial debts. This means the protections you may have under the FDCPA don’t apply when dealing with commercial debt collection, making it harder to manage debt with companies like PSI. However, this doesn’t mean it’s impossible to find a solution.

While the Commercial Collection Agency Association (CCAA) is not a government agency and doesn't have legal authority over all debt collectors, it sets standards that its members, like PSI, should follow. These guidelines are similar to the rules under the FDCPA and aim to ensure fair treatment during the collection process.

If you have a business debt that has become too difficult to pay, try one of the following remedies.

Sued for debt? Settle your debts with the help of SoloSettle.

Negotiate a settlement with PSI.

PSI acknowledges that some debtors cannot fully pay their accounts, no matter how hard they press. So they are sometimes willing to accept less than you owe. If they do, you may be off the hook sooner. Here are some steps you can take to work towards settling with PSI:

  1. Begin by reviewing the details of the debt you owe. Make sure the amount PSI claims you owe is correct, and confirm that the debt is valid. Request a debt validation letter, which PSI is required to provide upon request, to ensure that the debt is legitimate.
  2. Take stock of your finances and determine how much you can pay. Consider all your financial obligations and be honest about what you can afford to settle.
  3. Once you have the necessary information and have assessed your finances, contact PSI to discuss your options. You can propose a new payment plan with fewer charges or negotiate for a lump-sum settlement at a reduced amount.
  4. Before making any payments, ensure that you have a written settlement agreement from PSI outlining the terms of your settlement or payment plan.
  5. Once a settlement or payment plan is agreed upon, it’s essential to stick to the terms and make payments on time. Missing payments can lead to the debt being sent back to collections or legal actions being taken.
  6. Once you’ve completed all payments or fulfilled the settlement terms, request a written confirmation from PSI that the debt has been settled in full.

After settling your debt, monitor your credit report to ensure that the settlement is accurately reflected and that the debt is marked as "settled" or "paid." If there are any discrepancies, contact PSI and the credit bureaus to correct the information.

Watch this video to learn more about debt settlement:

Dissolve the business

If the business is a corporation and you dissolve it, PSI can only come after its property, not your personal belongings. There may be an exception if you personally guaranteed the loan.

File for bankruptcy

If your business files for a Chapter 7 or Chapter 11 bankruptcy, you may have protection from further debt collection efforts by PSI. Chapter 7 closes down the business, and debts disappear. Chapter 11 allows you to reorganize the business's debts but keep operating. Seeking a bankruptcy lawyer's advice can point you in the right direction.

Can you get a merchant cash advance?

If your business's debts result from a lack of capital as opposed to underperformance, you can seek quick financing. Some companies offer merchant cash advances that you can use to pay your debts but proceed cautiously. Ensure you understand the total costs of cash advances and decide whether it is a good decision for your business. Be sure to examine the cons of accessing such financing before you sign up for them.

Respond to debt collection lawsuits

Commercial debt lawsuits follow a similar pattern as consumer debt:

  1. PSI attorneys file a complaint in court
  2. They serve you the papers
  3. You respond to the lawsuit
  4. The court sets a hearing date
  5. The judge decides the case

There are probably more default judgments in debt collection lawsuits than necessary because many debtors do not respond to the Summons.

Respond to Prestige Services, Inc. debt lawsuit

If PSI sues you, your best defense is to file an Answer within the deadline. Use Solo's step-by-step web app as a guide to creating your response.

It takes three steps:

  1. Respond to all the complaints against you: When you receive a lawsuit, it will include a formal Complaint outlining PSI's claims against you. It's important to respond to each accusation, addressing every point made in the Complaint. You can either agree, deny, or claim that you lack sufficient information to admit or deny the allegations. Failing to respond could lead to a default judgment in favor of PSI.
  2. Assert your affirmative defenses: If you have reasons why you shouldn't owe the debt or why the amount they claim is incorrect, this is the time to assert those defenses. Examples of defenses might include the debt being too old (expired statute of limitations), inaccurate, or you already paid the debt. Be sure to state these defenses clearly in your response.
  3. File your Answer at the court and PSI's attorneys: After you've addressed the complaint and outlined your defenses, you must file your official "Answer" with the court. This is your formal response to the lawsuit. Finally, send a copy of your Answer to PSI's attorneys.

Following the court's rules for filing and serving documents ensures that the court knows you've responded to the allegations and are asserting your rights in the legal process.

To learn more about these three steps, check out this video:

You are likely to hear from PSI if your business is in debt. Although the FDCPA regulations may not apply, you can still hold PSI accountable if you know your rights under the commercial debt collection laws.

Solo wants to help you resolve your debt and get your life back. We specialize in assisting consumers in eliminating debt without hiring an attorney.

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