Did you recently receive a mailer from PO Box 25759 Greenville South Carolina or a phone call from 1-800-668-3247 stating you have remaining debt on your account that you need to pay? This is Dynamic Recovery Solutions.
Dynamic Recovery Solutions is often questioned as a potential scam, but it is a legitimate debt collection company. While their business practices may raise concerns, understanding your consumer rights can prevent unlawful behavior.
If Dynamic Recovery Solutions are contacting you, it is likely because you have an outstanding debt that the original creditor has hired them to collect. This could include medical bills, student loans, or other unpaid debt.
Dynamic Recovery Solutions may resort to harassing tactics to obtain payment, and sometimes the debt may appear twice on your credit report. It’s important to address such issues immediately to prevent them from affecting your credit report.
What is Dynamic Recovery Solutions?
Dynamic Recovery Solutions is a debt collection agency specializing in collecting delinquent debts on behalf of creditors. They may contact individuals by phone, mail, or other means to collect outstanding debts.
A creditor may have hired this agency to collect on a debt or purchased the debt from a previous owner, a common practice in the debt collection industry.
Contact Details
Below are Dynamic Recovery Solutions’ contact details:
Phone number: (866) 996-1535
Email: customerservice@gotodrs.com
Dynamic Recovery Solutions History
Dynamic Recovery Solutions was founded in 2008 by a team of industry experts with extensive experience in the debt collection industry. The company has its headquarters in Greenville, South Carolina, and operates as a subsidiary of Square Two Financial, a global leader in the debt buying and recovery industry.
Over the years, Dynamic Recovery Solutions has become a well-known debt collection agency that provides debt recovery services to creditors across various industries, including healthcare, financial services, telecommunications, and more.
Despite some controversy surrounding the debt collection industry, Dynamic Recovery Solutions has committed to compliant practices.
Dynamic Recovery Solutions Reviews
Based on the customer complaints in the last years, Dynamic Recovery Solutions has a history of receiving complaints related to billing and collection issues. Additionally, there have been reports of inaccurate information reporting on credit reports, as well as harassment and persistent calls to individuals who dispute owing a debt.
While it is difficult to draw conclusions solely based on the complaints listed, the high number of customer complaints and the recurring issues suggest that there may be issues with the company’s policies and practices.
Consumers needing to work with Dynamic Recovery Solutions should be aware of their rights as a debtor and follow the proper channels for disputing any debts they do not believe they owe.
Google Reviews
Dynamic Recovery Solutions has 243 reviews on Google, and a 1.2-star rating, which is pretty low. They have received several complaints from consumers regarding alleged Fair Debt Collection Practices Act (FDCPA) violations.
Some customers have reported that Dynamic Recovery Solutions uses illegal tactics, makes false statements or representations, attempts to collect debts that are not owed, threatens to contact their employer and shares information improperly, and uses improper communication methods.
BBB Reviews
Dynamic Recovery Solutions also has a low rating on BBB (1.27 stars) and is not BBB accredited. There have been 254 complaints resolved in the last 3 years, most of which highlight reporting incorrect debt information to credit bureaus and failing to provide the required information about the debt in question.
These actions are potential violations of the FDCPA, which regulates debt collection practices and protects consumers from harassment, abuse, and other unfair practices.
Other Reviews
This agency resorts to harassing tactics to obtain payment, and even if the consumer pays, the account still appears on their credit reports, affecting their ability to get loans for years to come.
In these YELP reviews, consumers have complained of their debts appearing twice on their credit reports: once for the original creditor and another for Dynamic Recovery Solutions. Given the high number of complaints against Dynamic Recovery Solutions, consumers may want to exercise caution while dealing with this company.
How To Stop Dynamic Recovery Solutions
Are you getting bombarded with calls and letters from Dynamic Recovery Solutions? If so, it’s time to take action. Here’s what you need to do to put a stop to it:
1. Use The 11 Word Phrase
When you receive a call from Dynamic Recovery Solutions, you can end it by saying, “Please cease and desist all calls and contact me immediately.” Using this 11-word phrase should put an end to the debt collector’s contact. If the verbal request does not work, send a demand letter that includes the same phrase.
According to the Fair Debt Collection Practices Act (FDCPA), once you ask a debt collector not to contact you, they should respect your wishes. The cease-and-desist letter should include your name, contact information, social security number, and address. It is essential to send the letter through certified mail with a return receipt, which serves as proof that the company received the letter.
Once the debt collector receives the letter, they should not contact you unless:
1. They are acknowledging your request. The company may send a reply acknowledging they have received the letter and will stop contacting you.
2. They are serving you. The debt collecting company can contact you to let you know they have filed a lawsuit against you. However, they cannot harass you or use any deceptive tactics to get you to pay the debt.
By taking these steps, you can put an end to Dynamic Recovery Solutions’s persistent contact and protect yourself from any further harassment or legal action.
2. Make Dynamic Recovery Solutions Validate the Debt
If you receive communication from Dynamic Recovery Solutions, it’s important to verify that the debt they claim you owe is actually yours. Don’t rush to make a payment without verifying the debt. Ask them to validate the debt by sending a debt validation letter which should include details such as:
- your name,
- your creditor’s name,
- how much you owe, and
- how to dispute the debt.
If you haven’t received a debt validation letter, request one from them. Once you receive the letter, review it thoroughly to confirm that the debt is valid. You can also request a credit report from Experian, TransUnion, or Equifax to check for any errors or mistakes on your credit history. If the debt is not genuine, contact the credit bureaus to have the error rectified.
How to Tell If It Is a Scam
Are you worried about falling victim to a scammer impersonating an Dynamic Recovery Solutions agent? Unfortunately, this is a rare but possible scenario. But don’t fret, there are ways to protect yourself from fraudsters seeking to obtain your personal information. A genuine Dynamic Recovery Solutions agent will have access to all your information, so be wary of anyone who asks for personal details. Another red flag to watch out for is if the agent cannot answer questions about the debt they are claiming you owe.
To confirm if you’re dealing with a real Dynamic Recovery Solutions agent, ask for their employee ID number. If they can’t provide one, it’s likely you’re being scammed. Be sure to keep your personal details private to avoid falling prey to fraudulent activities. Additionally, you can request a debt validation letter to avoid being scammed by debt collectors.
Note: According to new regulations, debt collectors must send a Notice of Debt within five days of first contact, effective November 30, 2021. The notice should include important information such as:
- the date of the last invoice or statement provided by the original creditor,
- the last payment date,
- the date the transaction became a debt, the charge-off date, and
- the judgment date if there is a court judgment for the debt.
These dates will help determine if the statute of limitation applies to the debt. If the notice is incomplete or does not include all of the above, it is considered invalid, and the debt is uncollectible.
This is crucial information to know because many debt collectors who purchased debts before these new regulations do not have this information. Some collectors may try to intimidate you into paying the debt or admitting to being the debtor. Once you receive a Notice of Debt from a debt collector, review it to ensure that it complies with the law. If it does not, respond to the agency in writing, letting them know that you will not engage in any further discussions until they send a Notice of Debt that complies with Regulation F. Protect yourself from scams and know your rights when dealing with debt collectors.
3. Confirm the Statute of Limitations on the Debt
It’s important to know the statute of limitations on your debt, as this is the period after which a creditor or debt collector cannot take any legal action to recover the debt. Check the statute of limitations for your debt and see if it has lapsed. If it has, you might not have to pay it. It’s essential to check the date of your debt against your state’s statute of limitations. Every state has different limitations, so it’s worth checking the statute of limitations by state to ensure you’re aware of your state’s rules.
The statute of limitations is typically counted from the day the creditor reported the debt as delinquent. However, making a payment towards the debt or acknowledging it as yours will restart the statute of limitations. If you fail to pay, the statute of limitations will remain in place, but the debt will not be removed from your credit history until seven years have passed. If the statute of limitations on your debt is close to expiring, it might be worth waiting it out, depending on the amount of the debt and your financial situation.
4. Act
If you have an outstanding debt, there are two main actions you can take: pay it off or dispute it. Here are some options to consider if you choose to pay off your debt:
Paying the Debt
First, make sure that the debt is actually yours, valid, and within the statute of limitations. If it is, then paying off the debt is the best way to keep the collecting agency, such as Dynamic Recovery Solutions, at bay. If you have enough money, you can choose to pay the full amount. However, if the debt has been sold, you may need to consult the collecting agency to find out where to make your payments, as it can be confusing to know who to repay.
Another option to consider is debt settlement. This involves hiring a debt settlement company to negotiate with the collecting agency to accept a lump sum payment that is less than the outstanding debt. Be cautious when working with debt settlement companies, as many of them are scams. Make sure the company does not make guarantees beforehand or charge fees before successfully settling your debt.
Lastly, credit counseling is another option to explore. This involves seeking professional help to manage your debt. If your debt is overwhelming, filing for bankruptcy may be the best option for you. The best option will depend on your financial situation.
Disputing the Debt
If you believe that the debt is not yours, or if you have been incorrectly contacted about the debt, you have the option to dispute it. You have 30 days to dispute the debt after being contacted about it. If you do not dispute it within 30 days, the debt will be presumed valid, and you will be held liable.
When disputing the debt, it is important to send a debt validation letter following the template design for notices sent after the Regulation F implementation on November 20, 2021. This will help ensure that your dispute is properly handled and that you are not held liable for a debt that is not yours.
Does Dynamic Recovery Solutions Sue for Unpaid Debt?
Dynamic Recovery Solutions is known for its aggressive tactics in pursuing unpaid debts, including filing lawsuits against debtors who fail to pay their debts. This can be a stressful and confusing experience, but there are steps you can take to protect yourself.
Firstly, it’s important to note that Dynamic Recovery Solutions typically only files lawsuits as a last resort. Before taking legal action, they will usually make several attempts to contact you and ask you to settle the debt. They may even offer you a discounted one-payment alternative if you pay the debt within a specific timeframe. If these attempts are unsuccessful, they may resort to more aggressive tactics, such as contacting other people about your debt or reporting you to credit agencies.
What You Can Do
If Dynamic Recovery Solutions does decide to sue you, it’s crucial that you appear in court. This is the best way to show good faith and avoid a default judgment being filed against you. If you can afford it, it’s also advisable to hire an attorney to represent you in court. However, if you cannot afford an attorney, you can still research how to defend yourself and prepare for the court hearing.
What You Can Avoid
One of the biggest mistakes that debtors make is failing to appear in court. If you do not show up for your court date, Dynamic Recovery Solutions may be awarded a default judgment against you, which can result in wage garnishment, frozen bank accounts, and other lawful measures being taken against you. Additionally, the court judgment may be listed in your credit report, which can have long-term effects on your ability to qualify for credit and loans.
Understand Debt Collection
To avoid these negative consequences, it’s essential that you understand the debt collection process and your rights as a debtor. This will help you handle the situation calmly and confidently. You can seek information and guidance on debt collection by contacting a legal professional or researching online.
In conclusion, Dynamic Recovery Solutions does sue for unpaid debts, but there are ways to protect yourself from their aggressive tactics. Always appear in court and seek legal representation if possible. Don’t ignore the debt collection process, but instead, seek information and guidance to handle it effectively. By taking these steps, you can protect your rights and avoid the negative consequences of a default judgment.