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Collections

How to Get Debt Recovery Solutions Off Your Credit Report



If you’re getting calls from a company called Debt Recovery Solutions, you probably have one or more unpaid bills to take care of.

They are a third-party collector that is hired by companies to get customers to pay their overdue bills.

And this can range from credit card debt to hospital bills to utility fees.

If you’re getting calls from them, this can mean trouble for your credit.

When Debt Recovery Solutions is hired to recover a debt, they must contact the major credit agencies and report the debt.

This is known as a collection account and can tank your credit score for as long as seven years.

No matter if the debt is for $50 or $50,000, they will come for you – and your credit – hard.

Therefore, the best way to get rid of them is to delete their account from your credit report as soon as possible.

What is Debt Recovery Solutions?

Debt Recovery Solutions is a medium-sized debt collection company that is headquartered in Syosset, NY.

They were originally founded in New York in 2002, but they were not accredited until 2014.

They boast a relatively small headquarters staff for their annual revenue with currently about 18 people employed at their headquarters location and report annual revenue of about $2.1 million.

No one enjoys being contacted by a debt collector, and customers of Debt Recovery Solutions have plenty to say about their experiences with the company.

Currently, the business sits with 168 complaints with the Better Business Bureau (BBB) and 845 complaints with the Consumer Financial Protection Bureau (CFPB).

They have also been involved in at least 8 civil litigation cases.

The major complaint when it comes to Debt Recovery Solutions is their disregard of the Fair Debt Collection Practices Act (FDCPA).

This is meant to protect consumers against undue harassment or intimidation by debt collectors.

If you believe they have violated your consumer rights, you should consider filing a complaint too.

If you are overwhelmed by dealing with negative entries on your credit report,
we suggest you ask a professional credit repair company for help.

Ask Lex Law for Help

How to Get Debt Recovery Solutions off Your Credit Report

These are the bare necessities for dealing with Debt Recovery Solutions and getting the collection off your credit report.

Ask for a Goodwill Deletion

If your debt was the result of something out of your control, you may be able to ask Debt Recovery Solutions for a goodwill deletion.

Goodwill deletions are exactly what they sound like. They will agree to delete their collection account from your credit report out of, what else, goodwill.

While this may seem like a slam dunk, it’s more complicated than you think.

Before asking for a goodwill deletion, you need to have paid the entirety of your balance to Debt Recovery Solutions.

This poses an obvious obstacle for some and may not even be helpful to your credit in the long run.

You will also need to have proof of whatever it is that caused your late payments in the first place.

If you were laid off from your job, you will need documentation of this.

Finally, you need to be polite in your letter to Debt Recovery Solutions. They would be doing you a massive favor by granting a deletion.

As the saying goes, you’ll catch more flies with honey than vinegar.

Write a Section 609 Letter

The debt collection industry is full of bad apples. There are plenty of scammers out there who will try to get you to pay a debt that isn’t yours.

To prevent that, federal law gives you the right to request validation on a debt within 30 days of hearing from a debt collector.

This is known as invoking your Section 609 rights or requesting debt validation.

Section 609 of the Fair Credit Reporting Act (FCRA) states that debt collectors are not allowed to reporting information that is false, inaccurate, or untimely about a consumer’s debt.

If Debt Recovery Solutions is found reporting any information that is erroneous, they are required to remove their account from your report and cease collection efforts immediately.

This is a way that you can get out of paying the debt entirely on a technicality.

Start with a Section 609 letter template and begin filling it out with your information.

This will act as a formal request for Debt Recovery Solutions to validate your information and send you proof of the debt.

They must respond to your request within 30 days of receiving your letter.

They should return with various documents that list out all the information about your account.

Go through each page and cross-reference with your own paperwork.

If you find anything that doesn’t match up or is out of date, you can file a dispute with the credit reporting agencies.

The credit bureaus will be forced to investigate the claim and Debt Recovery Solutions’ entry.

If they agree that the account is inaccurate, they will delete the account from your report.

Work Out a Settlement Deal

If Debt Recovery Solutions is able to validate your debt, you are responsible for repaying it. This is the time when you’ll need to work out a settlement deal.

A pay-for-delete agreement is the most common type of settlement that people make with debt collectors.

Exactly as it sounds, this type of settlement involves paying Debt Recovery Solutions for the debt in exchange for an account deletion.

Pay-for-deletes are notoriously difficult to strike with debt collectors.

Debt Recovery Solutions doesn’t want to make concessions for their customers because it might set a precedence for account removals.

However, you make be able to get them to agree if they’re desperate enough.

Start by offering them 30% to 50% of the total debt balance in exchange for a deletion.

The aim is not necessarily to get them to agree to this amount. It just gives you room to work with them to come to a compromise.

Once both parties are satisfied with an agreement, ask Debt Recovery Solutions to send the full terms and conditions on an official company letterhead.

This gives you physical proof of an agreement that you can use to back up your claims later on.

Once you receive the written agreement, make your first payment to them. They should remove their account within 30 days of receiving your payment.

If they don’t, remind them of the physical agreement that you have from them.

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Conclusion

Dealing with Debt Recovery Solutions is probably not at the top of the list of things you want to be doing.

However, it is better to handle the situation now than reap the effects on your credit score later.

If cleaning up your credit report is one of your new year’s resolutions, you’ve come to the right place.

We have plenty of articles that can help you tackle your credit woes and boost your score along the way.

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