How To Remove Dynamic Recovery Solutions From Your Credit Report

How To Remove Dynamic Recovery Solutions From Your Credit Report

Has Dynamic Recovery Solutions made an appearance on your credit report and caused your score to drop?

When you forget to pay a bill, it can eventually make its way to a collections agency, resulting in repetitive phone calls, letters, and damage to your credit.

Below, we’ll show you how to stop Dynamic Recovery Solutions from writing and calling and how to repair your credit score with a few simple strategies.

What Is Dynamic Recovery Solutions?

Wondering whether or not Dynamic Recovery Solutions is a scam?

While their relentless calls might lead you to question their legitimacy, the company is indeed a bona fide debt collection agency.

Smaller than many of its competitors, DRS is staffed by around 100 employees.

The agency, headquartered in Greenville, SC, was founded in 2008. In 2019 alone, it earned more than $10 million in revenue.

Along with the name Dynamic Recovery Solutions, the agency may appear on your credit report as Dynamic Recovery Services.

Dynamic is a late-stage debt collector for companies in the following industries:

  • Banking
  • Health care
  • Legal services
  • Real estate
  • Retail
  • Student loans
  • Telecommunications
  • Utilities

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How Does Dynamic Recovery Solutions Work?

Dynamic Recovery Solutions is a debt collection agency that profits from unpaid consumer and commercial debts.

Debt collections agencies like DRS work on behalf of companies to collect on unpaid bills, with others purchasing debts from these companies at a minimal cost.

From there, they persistently call and mail letters to the debtor, also appearing on their credit report, until the account is settled.

If the agency is on your credit report, you either owe a debt or have been mistakenly identified as owing money.

Once DRS is on your credit report, it can stay there and continue to pull down your score for several years.

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3 Ways to Remove Dynamic Recovery Solutions from Your Credit Report

If DRS is calling you about an unpaid bill, it’s vital that you respond quickly and strategically.

Resolving some accounts with DRS may be as simple as submitting a debt validation letter, while more complicated situations might warrant professional help.

Regardless, here are the three best ways to get Dynamic Recovery Solutions removed from your credit report.

  1. Send DRS a debt validation letter
  2. Negotiate a partial payment
  3. Hire a credit repair agency

1. Send Dynamic Recovery Solutions a Debt Validation Letter

Getting DRS removed from your credit report could just be a matter of disputing your debt.

Under the Fair Debt Collection Practices Act, a collections agency is required to present you with appropriate validation of the debt they claim you owe.

You can write the agency a basic debt validation letter to dispute their claim against you.

In many cases, the agency doesn’t actually have the documentation it needs to further pursue payment.

If that’s the case, they’ll have to remove the collections account from your credit report.

Whether you do in fact have an unpaid bill, or DRS’s claim is based on faulty reporting, you should definitely submit a validation letter.

For this method to work, you should contact DRS within 30 days.

2. Negotiate a Partial Payment on Your Account

If it’s too late to dispute DRS’s claim or the agency was able to validate the debt you owe, get ready to negotiate.

In many cases, a reduced payment is better than no payment at all to a debt collector.

By offering DRS a partial payment, you may be able to negotiate the removal of the collections account from your credit report.

If you do attempt to negotiate with the collections agency, don’t forget to get it in writing.

That way, whatever DRS agrees to is thoroughly documented and far more concrete than what’s said over the phone.

When you and the agency come to a consensus, and a payment is made, your credit score should improve, with the collections account removed.

If it’s still present on your report 30 days after you make your payment, you should write a followup letter.

3. Hire a Credit Repair Company

The steps above can yield positive results, but not without some effort on your part.

If your credit situation is more complex than a missed phone bill or you simply don’t want the hassle of dealing with a collections agency, a credit repair company is a perfect solution.

A company like Credit Saint can fight for you, bringing their expertise to the table to get DRS off your credit report, quick.

They can do everything from challenging negative marks upon your report to disputing the collection agency’s claims and monitoring your credit.

If you’re tired of getting phone calls and letters from a collections agency and you want to boost your credit score, try one of the methods above today.

Whether you choose a DIY approach or you prefer to bring in some professional help, you should be able to get Dynamic Recovery Solutions off your phone screen and your credit report.

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How to Deal with Dynamic Recovery Solutions

Dynamic can be challenging to deal with, as evidenced by the 1,300 complaints waged against them with the Consumer Financial Protection Bureau.

Their Better Business Bureau profile is peppered with similar complaints.

A lot of consumers targeted by DRS cite issues with the following:

  • Faulty reporting
  • Failure to respond to validation requests
  • Inappropriately communicating
  • Improperly sharing private information

It’s important to educate yourself on your rights under the Fair Debt Collection Practices Act.

Among several other protections, this Act prohibits collections agencies from calling you outside of 8 a.m. to 9 p.m., and it blocks them from contacting your employer about your debt.

It also allows you to strictly communicate with the debt collection agency by mail.

This is a crucial step to take. Not only does communication by mail eliminate the stress of the agency’s constant calls, but it also documents all of your interactions.

This documentation can come in handy if you negotiate a payment with the agency, or they decide to take legal action against you in the future.

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Prevent Loan Scams provides guides, reviews & information to help consumers through every restorative step of their financial journey.

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