What Is Dynamic Recovery Solutions and How Do You Get It Off Your Credit Report?
Dynamic Recovery Solutions, also referred to as Dynamic Recovery Services, or DRS, is a debt collection agency that’s hired by creditors to collect debt from borrowers who are behind on payments. The company was founded in 2008 and is based in Greenville, South Carolina.
It mainly contacts borrowers by phone to collect different types of debt for creditors, which may include:
- Consumer loan providers.
- Medical service providers.
- Financial institutions.
- Banking service providers.
- Utility service companies.
- Telecommunication service providers.
- Healthcare providers.
- Student loan providers.
If you’re dealing with this debt collection agency, it’s important to understand why they’re contacting you and what actions they can legally take against you.
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Why Is This Collections Agency on My Credit Report?
Dynamic Recovery Solutions may show up on your credit report if one of your creditors sent your debt to the agency for collection. The company collects small and large debt from consumers for accounts dating as far back as the year 2000. If debt collection is recorded on your credit report, it may negatively affect your credit score for seven years until it drops from your history.
How to Stop Dynamic Recovery Solutions
If Dynamic Recovery Solutions continues to call you to ask for payment or to ask you for information, it’s important to stop this collection agency. When you don’t pay your debt collections, the situation may escalate.
Dynamic Recovery Solutions could pursue legal action against you but the debt collection agency must follow all legal protocol when contacting you about your debt. In an attempt to stop the company from pursuing legal action and to remove it from your credit report, you can try to:
- Pursue legal action against the agency: If the debt collection company is harassing you by phone or has engaged in other activity you feel is illegal, you may be able to pursue legal action against them to get them to stop.
- Hire a credit repair company: A credit repair company may be able to negotiate with Dynamic Recovery Solutions on your behalf so you can obtain a more realistic payment plan or an absolution of some of your debt.
- Dispute items on your credit report: If you feel Dynamic Recovery Solutions is contacting you about debt erroneously, you can dispute this item on your credit report with the creditor. If you’re successful, the agency will stop contacting you.
Is Dynamic Recovery Solutions Legit or a Scam?
Dynamic Recovery Solutions is a real company that offers full-service debt collection to small, medium, and large creditors. Although the company is legitimate, there are several customer complaints filed with the Better Business Bureau (BBB) related to their debt collection practices.
Some customers have complained they’ve been harassed by phone calls and texts from the company at odd hours. Other customers have complained that the debt collection continues to show up on their credit report and drag down their credit score although they’ve already paid off the debt.
Know Your Rights
As a borrower, you have consumer credit rights when it comes to debt collection agencies. The Fair Debt Collection Practices Act (FDCPA) sets regulations that debt collection companies like Dynamic Recovery Solutions must follow. It’s illegal for these agencies to:
- Contact you by phone early in the morning or late at night.
- Attempt to intimidate you or use obscene language.
- Threaten you with negative credit reporting or other actions.
- Use automated robo calls to contact you.
- Contact your friends, family members, or neighbors to get to you.
Can Dynamic Recovery Solutions Sue Me or Garnish My Wages?
A debt collection agency may pursue legal action against you if it’s proven that you defaulted on your debt. If you’re found guilty, the judgment may include garnished wages to satisfy your debt. However, it’s illegal for Dynamic Recovery Solutions to use this legal consequence as an empty threat and your debt must be validated before the agency can file a lawsuit.
Receiving a phone call from a debt collection agency like Dynamic Recovery Solutions is intimidating. It’s important to know your rights and the laws this debt collection agency is required to follow when attempting to collect your debt.
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