Dynamic Recovery Solutions is one of the most hated debt collectors in the country. Not only are they relentless, but they have chosen to harass consumers for accounts that are completely bogus. Oftentimes, Dynamic Solutions will decide to “offer” consumers a way to settle their so-called debts for what seems like a great deal.
Let’s look at one of the many examples found on Yelp:
- One user received a call from the company stating that they owe $7,900.
- The consumer never had an account with the company in question.
- The company states that if the consumer chooses to settle early, they can do so for just $2,700.
While this seems like a great deal, the consumer didn’t have an account with the creditor; it was a scam.
These collection scams pry on the concept of people paying less to pay off a debt, but what happens when the debt isn’t yours? Now, I would be lying if I said this was a scam because I have no viable proof, but with 800+ complaints on the Better Business Bureau website against the company, it’s safe to say they are scamming people.
Thankfully, there is a way to fight off DRS collections and finally get a resolution to your problem.
Precautions to Take
First and foremost, there are numerous precautions you must take to safeguard your identity and information. After researching numerous Dynamic Recovery Solutions complaints, there are a few glaring precautions that every consumer will want to take against this company.
- Never pay a dime on a debt you don’t truly owe. This can be seen as verifying that you take responsibility for the debt.
- Monitor your credit report closely. Some consumers have gotten calls and many have had the debt added to their credit report. A few great places to use for monitoring your credit are:
- Paying will often not remedy the issue. Some people have paid small debts just to get this company to go away, but they seemingly come back.
One of the oddities that you’ll also experience is that DRS wants you to provide your social security number to them, but they will not show you proof of the debt or that they have the right account. Never, ever give out this information whether it be on the phone or on the Internet.
You must be prepared for a barrage of phone calls from this company. They will drudge up your home, work and mobile phone number to continually call you. If they’re calling about a debt you don’t owe, you can ask them to remove you from their database. However, asking politely seems to go nowhere with the company right back on the phone calling you minutes later.
Remember, if you don’t owe the debt, you do have a way to fight Dynamic Solutions. If you do owe the debt, it’s better to call the company who you owe to see if they have hired DRS to collect the money.
Removing DRS From Your Credit Report
As a consumer, you have laws on your side that allow you to get DRS collections off of your credit report. This will take some months to actually work and only 69% of the time this will remedy the problem on the first try, but you can follow the steps below again in hopes of a better resolution.
1. Get Your Credit Report
We briefly touched upon this earlier. You’ll want to request your credit report to see exactly what erroneous items have been added. You can use any of the companies we listed previously, or you can also request your one free report from Annual Credit Report.
Under federal law, you’re allowed a free yearly report.
You’ll receive 3 different credit reports from the three respective bureaus:
Remember to request reports from all three bureaus.
From here, you’ll want to scour your report for any errors. You’ll only need to dispute claims with the respective bureau if they exist on the report given. For instance, Experian may have that you owe DRS $3,000, but TransUnion does not have this error included. In this case, you would only need to dispute the claim with Experian.
2. Gather Proof
In most cases, you’ll have no proof to back up your claims against a charge. Instead, you’ll want to find any proof possible about the charge. One consumer stated that they received an out-of-state charge to a state they never visited before. Oftentimes, these errors are so old that you wouldn’t be able to gather proof, but if the claim is stating that last year you were in the hospital in Ohio when you weren’t, you may be able to provide proof.
3. Write Your Dispute
You need to write out your dispute, ideally type out your dispute letter, and send it certified mail with a return receipt requested. You will be sending a letter to any and all credit bureaus with the error included. Within your envelope, you’ll want to include:
- Your dispute letter.
- A copy of the credit report with the error circled.
- Any proof you may have.
This information will be sent to the credit bureau and they will investigate your claim. Normally, this procedure will take 30 days to complete on average. If your dispute is deemed valid, the bureau will contact all other credit bureaus to remove the error and they will also contact you with a new, error-free report.
Approximately 31% of disputes do not get resolved the first time. If this is the case, you can request that another investigation take place.
Hopefully at this point, your problems are over. If you can’t get the item removed by yourself, you can contact a professional to work on your behalf. Many lawyers will help you fight these charges. Fraudulent charges can also have a lawsuit attached to them, but this will need to be discussed with your lawyer if you choose to follow this path.
I’ve been able to locate a few class action lawsuits against Dynamic Recovery Solutions, but their deadlines to being included have passed. If you do choose legal action, a lawyer will be able to help you reach the best settlement possible. Do not back down from these scam artists.
One important aspect to remember is that the company must verify the debt. If they will not provide the name of the owner of the debt, you will have a lawsuit on your hands. In the event that the owner of the debt’s information has been provided, you can call the owner to provide you with proof that the debt is yours. Once proof is provided, you can send this information to DRS in an attempt to have them remove this item from your report.
By no means do you ever want to pay a debt that you do not owe. As others have stated, this will cause DRS to add even more items to your credit report in hopes that you will just pay the debt and not take action against the company.