The process of removing Dynamic Recovery Solutions (DRS) from your credit report is complicated and time-consuming, so we’ll break it down for you step by step so that you can remove these items from your record as quickly and painlessly as possible.
But first, let’s understand a few basics.
What is Dynamic Recovery Solutions?
Dynamic Recovery Solutions (DRS) is one of many third-party collectors that buy debt from original creditors.
If you think about it, there are only two ways to get rid of debt: either pay the total amount or convince the creditor that you don’t owe them anymore.
If you can’t pay, Dynamic Recovery Solutions offers another approach – they will attempt to collect on their own in exchange for 30% of what they recover.
In practice, Dynamic Recovery Solutions buys debts at meager prices and then tries to squeeze every penny out of the debtor by calling incessantly. They use scare tactics like threatening lawsuits or even jail time if the customer doesn’t pay up quickly enough.
Dynamic Recovery Solutions collection calls have been known to intimidate people into paying debts no longer owed to that specific creditor.
Is dynamic recovery solutions legit?
Dynamic Recovery Solutions, LLC was initially incorporated in 2008, then started in 2009, and has been subject to several lawsuits. According to the courts, the majority of these lawsuits claim that Dynamic Recovery Solutions ignored court judgments and continued to collect on long gone debts.
These suits are usually filed by their customers, many of whom report aggressive phone calls even after repeatedly trying to clarify that they did not owe any money!
How Does Dynamic Recovery Solutions Work?
Dynamic Recovery Solutions buys debt from original creditors.
It also enters into contracts with companies that purchase new debts regularly as part of identity theft prevention services, online auction fraud, and other schemes.
You pay them in one of two ways: They can accept partial payments directly or can make full collections and give the creditor 30% of the proceeds upfront.
They will call you several times per day, repeatedly threaten lawsuits or jail time if you don’t pay dynamic recovery solutions.
They ignore your requests for verification of debts, refuse all settlement offers, and file liens against your home to ensure they are paid when they sell it.
Why is Dynamic Recovery Solutions Contacting Me?
Dynamic Recovery Solutions is contacting you because they now have access to thousands of names are trying to get every dime out of it.
They might also be calling you if they bought your debt as part of a portfolio. This means that DRS does not know exactly which specific account you owe.
They will contact you anyway and start by asking for the most common information associated with your name. Still, they will eventually threaten court action, bailiffs, or arrest unless you pay up immediately.
How to stop dynamic recovery solutions collection calls?
To stop DRS collection calls, you can tell them that they are not authorized to call you.
You can also report them to the Federal Trade Commission (FTC) online. Alternatively, send them a letter directly.
Who uses dynamic Recovery Solutions?
Dynamic Recovery Solutions’ customers come from all walks of life.
Creditors use Dynamic Recovery Solutions to collect unpaid debt in 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 Dynamic Recovery Solutions for help.
Does Dynamic Recovery Solutions sue?
Dynamic Recovery Solutions does not sue customers who have filed for bankruptcy, so they are protected from further liability.
However, they send letters to their customers threatening legal action and might call the police if you do not comply with their demands.
If you have a dispute with them, contact your state’s attorney general or law enforcement office.
Does Dynamic Recovery Solutions Have Any Complaints?
DRS has over 500 complaints, and on Better Business Bureau profile, they have a rating of F. DRS was the subject of an FTC lawsuit in 2012 for violating federal law.
The company settled with the FTC and is permanently banned from calling its customers.
How to Remove Dynamic Recovery Solutions From Your Credit Report
1. Request All Communication By Mail
If you speak with DRS over the phone, they’ll not offer a mailing address. They will also never mail you a letter asking for payment. They prefer to call their customers because it gives them more time to convince them to pay.
To prevent further contact and get your name off of DSR’s list, you’ll have to take extra steps.
Send a letter certified and return receipt requested by Dynamic Recovery Solution’s street address requesting all future communication be done via mail.
Enclose copies of any letters or cards that dynamic Recovery has sent you in the past six months.
Send this request for information directly to Dynamic Recover Solutions: 135 Interstate Blvd, Greenville, SC 29615, USA.
2. Send a Debt Validation Letter
Dynamic Recovery Solutions will likely dispute its debt if you send a debt validation letter.
Dynamic Recovery Solutions cannot call you and must wait 150 days to file any lawsuit once they have mailed their debt validation request.
They should also be aware that the Fair Debt Collection Practices Act (FDCPA) states that consumers have the right to dispute all or part of Recovery for up to 30 days after receiving a recovery notice.
Contact The FTC If you are continually harassed by DRS or your state attorney general’s office. You can also report DRS to your local police department for nuisance calls made in violation of the law.
3. Negotiate a Pay-For-Delete Agreement
Dynamic Recovery Solutions will likely try to settle their debt before they contact their corporate office.
They only care about their bottom line.
They will likely be willing to make a deal if you threaten legal action or send a debt validation letter.
4. Get Professional Help.
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, 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.
Check out Credit Saint to help you remove Dynamic Recovery Solutions from your credit report.
They’ll take care of you, and to be honest, they typically get stuff removed from your credit report a lot quicker. Check out their website.
Dynamic Recovery Solutions And Zombie Debt
“Zombie debt” is old debt that has been purchased but is no longer owed.
Dynamic Recovery Solutions creates Zombie Debt out of thin air when they cannot locate a valid customer. They will also turn into Zombie Debt if their customer does not respond within 60 days.
Are You A Victim Of Dynamic Recovery Solutions Fraud?
If you feel that Dynamic Recovery Solutions has overcharged or misrepresented your debt, you can submit a complaint to them.
Dynamic Recovery Solutions is required by the Federal Trade Commission (FTC) to have a dispute process in place for its customers.
Complaints are usually reviewed within 30 days. They’ll contact you if they need more information. If they still disagree with the determination, they will provide you with the name and address of their corporate office.
Dynamic Recovery Solutions should then send its corporate office a letter requesting an explanation for the dispute.
Dynamic Recovery Solutions Contact Information
Dynamic Recovery Solutions, LLC
135 Interstate Blvd, Greenville, SC 29615