How To Settle Debt With Debt Recovery Solutions in 2024
Debt Recovery Solutions can damage your credit for seven years if you don't act. You have three powerful options: request debt validation, negotiate a pay-for-delete agreement, or ask for goodwill deletion. If they sue you, respond within 14-30 days to protect your assets and avoid default judgment.
Answer the LawsuitYou got a call from Debt Recovery Solutions. Your credit might be at risk right now.
Debt Recovery Solutions is a third-party collection agency. Businesses hire them to collect past-due bills. They go after credit card debt, hospital bills, and utility fees.
Debt Recovery Solutions Suing You? Respond Now
Don't be part of the 90% who lose by default. You have only 14-30 days to file your Answer and protect your assets from Debt Recovery Solutions.
Draft Your ResponseWhen they take on your debt, they report it to major credit agencies. A collection account can damage your credit score for up to seven years.
You can protect yourself. Strategies exist to settle your debt and avoid legal action.
What Is Debt Recovery Solutions?
Debt Recovery Solutions operates from Syosset, NY. The company started in 2002 and employs about 18 people.
They generate approximately $2.1 million annually from debt collection. The agency handles debts from multiple industries across the economy.
How To Contact Debt Recovery Solutions
You need their contact information to validate debts or negotiate settlements:
- Address: 6800 Jericho Turnpike, Suite 113E, Syosset NY 11791
- Phone: (800) 851-9592
- Email: compliance@dbtsolutions.com
- Website: dbtsolutions.com
Who Does Debt Recovery Solutions Collect For?
Debt Recovery Solutions works with companies across multiple sectors. They collect credit card debts, medical bills, utility fees, and other outstanding accounts.
What People Say About Debt Recovery Solutions
Online reviews reveal mixed experiences with Debt Recovery Solutions. You can find reviews on Google Reviews, Better Business Bureau, and WalletHub.
Some borrowers report positive outcomes. One customer praised CEO Zach S for responding quickly when representatives failed to email payment receipts.
The takeaway? Engaging with collectors works better than ignoring them. Communication matters when resolving debt collection issues.
Three Ways To Remove Debt Recovery Solutions From Your Credit Report
You have options to protect your credit. Three strategies can help you deal with Debt Recovery Solutions:
- Request a goodwill deletion
- Negotiate a pay-for-delete agreement
- Force them to validate the debt
Each approach offers different advantages. Your situation determines which strategy works best.
Negotiate a Pay-for-Delete Agreement
Pay-for-delete is the most common settlement with debt collectors. You pay Debt Recovery Solutions in exchange for account deletion.
The collection disappears from your credit report after payment. Collectors resist these agreements because they set precedents for other consumers.
Get the full agreement in writing. Keep documentation to back up your claims later.
Request a Goodwill Deletion
Goodwill deletions work when circumstances beyond your control caused your debt. Debt Recovery Solutions removes the collection account as a gesture of goodwill.
You must pay the entire balance first. Documentation is required to prove what caused your late payments.
Job loss, medical emergencies, or major life changes qualify. Provide proof of these hardships when requesting goodwill deletion.
Send a Debt Validation Letter
Federal law gives you the right to request debt validation. You have 30 days from first contact to exercise this right.
Section 609 of the Fair Credit Reporting Act protects you. Debt collectors must prove their claim is valid.
If Debt Recovery Solutions cannot provide documentation, they must stop collection efforts. They must close their file and remove the account.
A debt validation letter requests proof you owe the money. Collectors cannot report false or inaccurate information about your debt.
Send your validation request in writing. Debt Recovery Solutions must respond with documentation or abandon their claim.
How To Negotiate a Debt Settlement
Debt Recovery Solutions validated your debt? You still have negotiating power.
Debt collectors often buy accounts for 8% of the original amount. They profit hugely when you pay in full.
Never pay the full amount without negotiating first. Collectors regularly settle for 10% to 60% of the debt.
Explain your financial situation honestly. Offer a lump sum payment at a reduced amount. Our partner Solo makes negotiating settlements simple and fast.
Keep records of all communications with Debt Recovery Solutions. Document any settlement agreement in writing. Collectors sometimes go back on verbal promises.
What If Debt Recovery Solutions Sues You?
Debt lawsuits stress people out. About ten million Americans face debt lawsuits every year.
90% lose by default because they don’t respond. You typically have only 14 to 30 days to file your response.
Don’t ignore a lawsuit from Debt Recovery Solutions. Draft and file a written Answer to the complaint immediately.
Our partner Solo helps you respond to debt lawsuits. Answer a few questions about your case and receive a customized response.
You get filing instructions specific to your situation. Protect your assets and take control of your finances today.