Has Dynamic Recovery Solutions, LLC, appeared on your credit report? If so, chances are good you have acquired a collections account.
Dynamic Recovery Solutions is a collections agency working on behalf of an original creditor to collect money they think you owe. This means you may receive harassing phone calls, excessive past due notices, and threatening letters.
Stay calm. You have rights under the Fair Debt Collection Practices Act. We’ll go over your consumer rights and ways to remove Dynamic Recovery Solutions from your credit report in this post.
Table of Contents:
What is Dynamic Recovery Solutions?
Founded in 2008, Dynamic Recovery Solutions is a debt collections agency based in Greenville, South Carolina. DRS handles all sorts of debt collections across the United States.
Creditors use Dynamic Recovery Solutions to collect unpaid debt in areas such as healthcare, banking, utilities, retail, credit cards, and student loans. If a creditor can’t collect an old debt, it will turn to a company like DRS for help.
Many people ask whether Dynamic Recovery Solutions is a scam. You may be inspired to question DRS’s business practices, but it is a legitimate debt collections company. It’s not a scam.
The company won’t break the law, especially when you’ve proven you know your consumer rights. But the company may do things to stir up your own fear and apprehension, hoping this will inspire you to make payments on the old debt so the collection calls will stop.
The thing is, you can make the calls stop before making a single payment. Then you’ll have leverage to get the negative item removed from the credit reporting bureaus, too.
Why is Dynamic Recovery Solutions Contacting Me?
In short, Dynamic Recovery Solutions’s agents are contacting you because they want you to send money to settle an old debt.
If you had a medical bill, a student loan, or any other type of debt that you couldn’t pay, the original creditor will hire Dynamic Recovery Solutions to hound you for repayment so that they don’t have to waste any more resources.
Dynamic Recovery Solutions has no qualms about harassing you until you make a payment. And even then, the account may not disappear from your credit history, harming your chances of getting a loan for years to come.
You may even find the same debt shows up twice on your credit report: one account for the original creditor and one account for Dynamic Recovery Solutions. (Sometimes, DRS appears on your credit report as Dynamic Recovery Services.)
This problem will not go away on its own. So save yourself the frustration and anxiety and get started dealing with DRS as soon as possible.
How to Remove Dynamic Recovery Solutions From Your Credit Report
Ok. The process to remove a collections account from your credit report is not as daunting as you may think. Follow the three steps below to get your credit report back on track.
1. Request All Communication By Mail
First things first: Ask DRS (or any debt collections agency you’re dealing with) to communicate with you only by mail. FDCPA — that’s federal law — gives you the right to set the terms of your correspondence with a creditor or debt collector.
Insisting on written, mailed communication prevents DRS from calling early in the morning and late at night. But more importantly, written communication gives you evidence if DRS fails to behave properly.
Debt collectors make promises or agreements over the phone, but they don’t always remember their agreements. If you complain, the case review may find no evidence your agreement ever existed. Then you’re back to square one.
By keeping everything in writing you can prove, if required, that you entered an agreement and kept your end of the bargain. Also, if you needed to complain to the Federal Trade Commission or the BBB, you’d have written proof.
2. Send a Debt Validation Letter
Once you’ve established written communication, it’s time to make sure the debt in question actually belongs to you and is accurate.
Did you know that one in five Americans has credit report errors? That means some of the information on your credit report may not belong to you. It is important to verify the debt actually belongs to you.
By law, Dynamic Recovery Solutions must disclose your right to verify the debt within five days of their first contact with you. Once they disclose this to you, you have 30 days to send a debt validation letter.
If you wait until after 30 days to send the letter, you may not receive a reply from the debt collection agency. This alone is the best reason to avoid procrastination!
To confirm the debt is yours, complete a Section 609 A Form. The purpose of this form is to confirm the name, Social Security number, and transaction date associated with the debt. If you are concerned about filling out the form incorrectly, you can find online templates to walk you through the process.
If it turns out that the debt does not belong to you, you need to send a letter disputing it to both Dynamic Recovery Solutions and the credit bureau. They should remove the debt from your credit report immediately.
In case you don’t already have it, Dynamic Recovery Solutions’s address is 135 Interstate Blvd, Greenville, South Carolina 29615.
3. Negotiate a Pay-For-Delete Agreement
Collections accounts on your credit report can negatively impact your credit score even if you pay them off in full. That is why it is important to negotiate a pay-for-delete agreement upfront.
A pay-for-delete agreement is exactly what it sounds like: the debt collection agency agrees to remove the collections account from your credit report as long as you pay your debts, or an agreed-upon percentage of your debt.
I recommend offering to pay Dynamic Recovery Solutions half of the debt in exchange for deletion on your credit report. Make sure you receive a decisive agreement in writing before making any payments on the debt. Agents may try to use tricky language to get around this arrangement, so make sure there is no wiggle room in the agreement.
Keep your agreement simple: In exchange for paying (dollar amount) on this account (account number) DRS will remove the account from my credit report with all three credit reporting bureaus.
After you make the payment, check your credit report after 30 days. Hopefully, Dynamic Recovery Solutions will have contacted the credit bureau and removed the collections account from your report.
If not, demand that Dynamic Recovery Solutions remove the account and provide proof of the agreement. If they refuse, it might not be a bad idea to involve a law firm.
Have a Professional Remove the Dynamic Recovery SolutionsCollection
Over the past several decades, professional credit repair companies have grown more popular. These companies do the leg work, outlined above, for you.
They write letters and follow up on your requests. They know federal law such as the FDCPA and the Telephone Consumer Protection Act. They will fight for you so you can do other things with your valuable time.
I suggest you check out Lexington Law Credit Repair.
They’ll take care of you, and to be honest, they typically get stuff removed from your credit report a lot quicker.
Does Dynamic Recovery Solutions Have Any Complaints?
Dynamic Recovery Solutions has received a litany of consumer complaints citing violations of the Fair Debt Collections Practice Act (FDCPA.) This act protects consumers from most forms of harassment from debt collectors.
The Consumer Financial Protection Bureau (CFPB) says DRS has inspired more than 1,300 complaints.
Agents have been accused of attempting to collect a debt that isn’t owed, lying about their identity, using abusive or otherwise unprofessional language, and improperly sharing information with employers, friends or family.
The Better Business Bureau reports another 400 or so complaints from DRS in the past three years.
Understanding your consumer rights when it comes to dealing with debt collectors is essential. Many people don’t know how the FDCPA protects them, and Dynamic Recovery Solutions has no intention of informing you of your rights.
Keep track of your interactions with this company, and make a note if they do any of the following:
- Call before 8 a.m. or after 9 p.m. without your explicit permission.
- Call your work phone number or cell phone when you’ve asked them to stop.
- Call friends, family members, or co-workers and tell them about your debt.
- Call you during a time you have told them is inconvenient or after you have told them to stop.
- Use abusive language or harassment of any kind.
- Lie about their identity or the amount owed.
- Threaten legal action or wage garnishment.
If you experience any of the above, you may be entitled to $1,000 per infraction. You would need legal representation to sue, but it may be worth it if you have been excessively abused by Dynamic Recovery Solutions or Dynamic Recovery Services.
Are You Dealing with Dynamic Recovery Solutions?
Debt collections agencies will send robocalls, leave cell phone messages, fill your mailbox with letters, and even make veiled threats about lawsuits or real estate liens or wage garnishments.
These agencies don’t want to break the law, but they don’t have to. They know your own fear, stimulated by their vague but persistent threats, could prompt you to pay off the old debt they’re calling about.
Dynamic Recovery Solutions, LLC, is no exception. But knowing your consumer rights can help you control your fear and start the process of removing DRS from your credit report.
And you do want this company removed or else you’ll spend a lot more money on interest each time you need a loan over the next seven years.
Yes, the statute of limitations on your debt may expire sooner, but this won’t help your credit; it’ll just keep a judge from ruling against you in court.
Be sure to check out some of our other articles about boosting your credit to find out how to improve your score for the future.