Does DRS show up on your credit report? Has the business been calling you at odd hours? Even if you have not noticed, they’re trying to contact you to collect a debt. Someone has hired them to collect from you, or they have purchased your debt from the original owner.
You’d rather avoid this problem, but you have to face it anyhow. They refuse to go. They may make your life difficult, damage your credit, and even sue you.
Let’s review your options for ending your interactions with DRS and getting them off your credit report.
What Is DRS, L.L.C.?
Dynamic Recovery Solutions, LLC’s business is recouping past-due debts. This organization collects past-due debts for many different industries, such as student loans, banking, health care, legal, utilities, and real estate.
Why Is DRS Calling Me?
Simply put, DRS agents have reached out to you to get an old debt settled. The original creditor will use DRS to pursue repayment of your medical bill, school loan, or other debt so that they don’t have to expend any further effort trying to get their money back.
Unless you pay up, DRS will continue to call and email you relentlessly. Even if you close the account, the damage to your credit score and ability to borrow money could last for years.
The debt collection company DRS is capable of reporting the same debt to credit bureaus twice. By addressing this problem as soon as possible—it won’t go away on its own—you may be able to spare yourself a lot of stress and hassle.
Is DRS a genuine company?
There is a lot of speculation over whether or not DRS is a hoax. Despite your concerns about its business tactics, DRS is a real debt collection agency. If you can show that you understand your rights as a customer, the corporation won’t breach the law. Yet it could also try to make you feel threatened to get you to continue making payments on the previous debt.
How to Deal With Dynamic Recovery Solutions
Like with any other collection agency, if Dynamic Recovery Solutions calls you, you can choose what to do. Besides this, there are two things you absolutely must not do:
- There’s no need to freak out. That won’t do any good.
- Don’t just brush this off as nothing. No good will come from doing that. They refuse to go.
That’s the wrong course of action to take, but what is the right one? How about we get started here?
- Ask that all correspondence be sent to you by mail only.
Start by asking that all future communications with DRS or any debt agency be sent to you in writing only. The FDCPA says that you can choose how you want to deal with lenders and debt collectors in the future. If you need all correspondence to be in writing, DRS will not contact you during inconvenient times of the day. In the event that DRS misbehaves, you will have documented proof of your communications with it.
Telephone agreements or pledges made by debt collectors are often forgotten. If you lodge a formal complaint, the reviewing body may find no proof of your consent and send you back to the beginning of the process. You could show that you lived up to your end of the deal by putting everything in writing. If you have a complaint that has to be filed with the FTC or the BBB, you may use this as supporting evidence.
- Send a letter to verify the debt
After you’ve written to them, you can check to ensure that the debt in question is yours and is correct. One in five Americans has inaccurate information on their credit reports. This means that your credit report could have information about you that is not true, so you need to check it carefully.
DRS must notify you of your right to review the debt within five days of the initial contact. The deadline for sending in a debt validation letter is 30 days from the day you received the disclosure. The biggest reason not to delay is the possibility that the debt collection agency may stop responding if you wait any longer than that.
Complete a Section 609 (A) form to verify the debt is indeed yours. This form is used to verify the following:
- The debtor’s name,
- Social Security Number (SSN), and
- the date of the transaction.
If you’re worried about making any mistakes on the form, you may discover examples of previous forms online to use as a guide. You should write a letter contesting the debt to DRS and the credit agency if you discover the debt is not yours. The debt must be immediately removed from your credit report.
- Discuss the possibility of a pay-for-delete arrangement
Even if you settle a collection account listed on your credit report, it might still lower your score. That’s why an up-front pay-for-delete agreement is so crucial. If you enter into a “pay-for-delete” agreement with a debt collector, they’ll agree to take the collection account off your credit report in exchange for full or partial debt payment.
For the debt to be erased from your credit report, offer DRS 50% of the outstanding balance. Before making any payments, a written version of the finalized agreement is required. Make sure the contract’s terms are unambiguous and simple to understand. Agents may attempt to circumvent the agreement by using ambiguous language.
For example: In return for (a dollar amount) paid on my account (A/C number), DRS has agreed to erase this item from my credit record with all 3 major credit agencies.
You should check your credit record 30 days after making a payment. If DRS took the collections account off your record, you should check with the agencies that keep track of your credit to make sure this is true. In such a case, you must ask DRS to cancel the service and show you the contract. If they still refuse, you may want to see a lawyer.
- Know Your Right
The FDCPA spells out the rights of people who owe money and the responsibilities of people who try to get money from them. Many important things are listed here:
- There is a strict 8 am – 9 pm no-call rule for debt collectors.
- A debt collector is prohibited from contacting your employer.
- If counsel represents you, the collector is required to consult with your attorney.
- Your friends and family are off-limits if a debt collector tries to contact them about your financial situation.
- A debt collector may use no profanity or threats against you, your property, or your reputation.
- Creditors who attempt to contact you must verify who they are and what organization they work for. They are not allowed to falsely claim authority as members of law enforcement or other government agencies.
- You are protected against debt collection threats of arrest or asset confiscation.
Go to the CFPB’s description of your rights for a comprehensive analysis of those protections.
You can complain to the FTC, the CFPB, or the attorney general of your state if you believe a debt collector is misbehaving.
- Consider Using a Credit Repair Company
Instead of dealing with AFNI Collections over the phone and in writing, you might hire a credit restoration business to handle the situation. A credit repair company might be able to help you deal with aggressive bill collectors.
Because they have a terrible reputation, you should be wary of credit restoration services that promise fast results and low prices. Some businesses today are honest and helpful, but they are the minority.
Hiring a professional sooner rather than later may save you a lot of trouble and money. Afterward, you may kick back and let the experts handle your credit. It’s also OK if you want to take care of things independently.
A lawsuit? What If?
Sometimes collection agencies may sue you for a very small sum of money. Don’t just disregard a lawsuit a debt collector has filed against you.
If you don’t do anything, a summary judgment could be made against you. You could get the boot for not paying back your loan. Your paycheck might be withheld if you don’t comply. Several states have laws that allow for the seizure of property.
Although not every business will really go through with a lawsuit if they have the option to, it’s important to remember that each time you’re dealing with a persistent debt collector, you run the risk of being sued.
Scam Lawsuit Against DRS
DRS is well-known for its unrelenting approach to debt collection. Such harsh tactics have resulted in a class action lawsuit against the firm.
You’ve probably heard of the Dynamic Recovery Solutions scam if you spend time on the Internet.
The statute of limitations limits how long a debt collector has to try to get a debt paid off. After the maximum is reached, the debt is “time-barred.” A debt that has run out of time to be collected is likely to have been written off. But, occasionally, the debt comes back to haunt you. The term “zombie debt” describes this kind of situation.
What is a “zombie debt”? Simply put, this status means that a creditor is trying again to collect a debt put on hold. Even though the debt in question is too old to be pursued legally, the corporation is accused of doing so in the complaint. Furthermore, the FDCPA strictly prohibits such conduct.
Final Thoughts on Dynamic Recovery Solutions
Debt collection companies will bother you with text messages, robocalls, letters, and even subtle threats of legal action, placing liens, and taking money out of your paycheck. These organizations have no desire to violate the law and have no need to do so. They hope your fear of their constant, scary warnings will make you pay off the old debt.
Creditors will not disappear without a fight. They will continue to bother you and may even end up in court. You can’t just run away. Instead, it would be best if you took the lead. The best way to deal with debt collectors is to know your rights. If you are proactive and self-aware, you will have complete control over the process and outcome.
Even though it won’t be enjoyable, you will have some control over the outcome.