Credit

Steps To Remove Dynamic Recovery Solutions From Your Credit Report

Article Summary: In depth overview on how to remove Dynamic Recovery Solutions collection from your credit report.

Have you pulled your credit report recently only to find a Dynamic Recovery Solutions collection? You probably wonder who they are, knowing you didn’t have a credit line with them.

Dynamic Recovery Solutions is a debt collection agency. They buy old debts from creditors, such as credit card companies, healthcare facilities, utility companies, and banks.

Dynamic Recovery Solutions buys the debt from the creditor for pennies on the dollar and tries to recover the full amount from you.

The problem is Dynamic Recovery is on your credit report, damaging your credit score and hurting your chances of future credit. It’s important to know how to remove Dynamic Recovery Solutions from your credit report

Here’s how.

What is Dynamic Recovery Solutions?

Dynamic Recovery Solutions Letter

Dynamic Recovery Solutions is a debt collection agency founded in 2009, and based in Greenville, South Carolina.

Dynamic Recovery Solutions handles recovery solutions for debts across industries, but focuses on credit cards, student loans, banking, and health care.

Typical of debt collectors, Dynamic Recovery is not accredited by the Better Business Bureau and has over 350 customer complaints. While Better Business Bureau accreditation isn’t the end all be all, it can be an important metric when deciding the overall legitimacy of a company.

Nonetheless, Dynamic Recovery Solutions is a legit collection agency, and despite many customer complaints, are not a scam.

Should I Contact or Pay Dynamic Recovery Solutions?

While Dynamic Recovery services are legit debt collectors, it doesn’t mean you should contact or pay them, even if you have a Dynamic Recovery Solutions collection on your credit report.

Before dealing with any collection agency, it’s important to understand that you have certain rights. In addition, there are methods you can use in order to remove Dynamic Recovery Solutions accounts from your credit report that we will outline below.

How To Remove Dynamic Recovery Solutions From Your Credit Report

Let’s outline the ways you can not only get Dynamic Recovery to stop calling you, but also get collections removed from your credit report.

Keep in mind that there are basically two ways to remove a collection. There are the do-it-yourself methods, or you can hire a professional credit repair company.

The do-it-yourself methods will take you some time and energy, but are obviously free. On the other hand, hiring a professional credit repair company is generally faster and more successful, but will cost you some money.

Ultimately, which method you decide to go with depends on how much personal effort you want to put into dealing with the debt collector, and how quickly you need your credit score to recover.

With that said, let’s get into the specifics.

Validate the Dynamic Recovery Solutions Debt

If you’ve just discovered Dynamic Recovery Solutions on your credit report or they called you recently, try validating the debt. You only have 30 days from when they first contact you to do this, so act fast.

To validate the debt, you write a letter to them asking for information about the debt. You can ask any questions you want, but some common information people ask for include:

  • Who is the original creditor?
  • What is the balance?
  • When did this debt default?
  • When was the last payment made?
  • What’s the name on the account?
  • What’s the original account number?

Dynamic Recovery Solutions must be able to answer and validate every question, or they must remove the debt from your credit report and stop attempting to collect on the debt. Get creative when writing your debt validation letter and send it within 30 days of them contacting you.

Dispute the Debt

If you missed your 30-day window or Dynamic Recovery Solutions validated the debt, you can still dispute it with the credit bureau. You may dispute the debt when something is incorrect or unfair on your credit report. 

This may include:

  • A misspelled name
  • The wrong account number
  • Wrong payment dates
  • An incorrect balance
  • The debt doesn’t belong to you

To dispute the debt with the credit bureau, you must write them a letter. All three credit bureaus have an online dispute process, but writing a letter and mailing it to them is generally a safer way to go about it.

Keep a copy of the letter and follow up if you don’t hear back within 30 days.

In your letter, write as many details about the issue you are disputing and provide as much proof as possible. The credit bureau has 30 days to investigate the issue and get with the creditor. If they can’t validate the debt or prove what you stated is incorrect, they must remove the debt from your credit report.

Here is the contact information for the three major credit bureaus.

Credit Bureau Dispute Mailing Addresses

TransunionEquifaxExperian
P.O. Box 2000 Chester, PA 19016P.O. Box 740256 Atlanta, GA 30374P.O. Box 9701 Allen, TX 75013

Arrange a Pay-for-Delete with Dynamic Recovery Solutions

Ultimately, even if you have the collection removed from your credit report, you’ll still owe the debt unless you proved it doesn’t belong to you or it isn’t valid.

If you didn’t have luck with the steps above, you can ask Dynamic Recovery for a pay-for-delete arrangement.

Here’s how it works.

Dynamic Recovery

First, you negotiate a settlement amount. Because Dynamic Recovery Solutions bought your debt for pennies on the dollar, you may not have to pay the full amount.

Negotiate the amount you can afford, leaving room for them to counteroffer, since they typically do.

Next, ask them to delete the collection from your credit report after you pay the agreed amount.

If they agree, get it in writing. Don’t pay them until they agree to remove the collection from your credit report.

If they don’t remove it, you’ll have a collection on your credit report for 7 years even if you paid it. The collection doesn’t hurt your credit score the entire time, but it looks bad to future lenders if you have a collection on your credit report.

If Dynamic Recovery agrees to delete the collection from your credit report, get proof in writing before you pay the debt.

Again, removing the collection will likely have a dramatic positive affect on your credit score.

Have a Professional Remove the Collection

Lastly, if you’re the type of person who would rather have a professional credit repair company handle it and just be done with the whole thing, I suggest you check out Lexington Law Credit Repair.

They’ll take care of you, and honestly they usually get negative items removed quicker than if you try to do it yourself. Give them a call at 1-844-331-6062 or Check out our review of their service.

How Do Collections Affect Your Credit?

Debt collections on your credit report can have a significant negative affect on your credit score. How significant of an impact depends on where your credit score was sitting prior to the collection account.

According to Equifax, if your credit score is around 780, one collection can decrease your score by 50 points. However, if your credit score is 650, the collection will only take it down to 630.

Either way, collection accounts are going to hurt you. Not only will they hurt your credit score, but potential creditors will definitely notice. This can specifically be a problem when you’re looking to get a mortgage.

Know Your Rights When Dealing With Dynamic Recovery Solutions

If you have decided to go the do-it-yourself route, there are some important rights you should know about before you communicate with a debt collector such as Dynamic Recovery.

For instance, debt collectors must follow the rules outlined in the Fair Debt Collection Practices Act.

Debt collectors cannot:

  • Threaten you with jail because of a debt.
  • Harass you or your family.
  • Contact your friends of family about your debt.
  • Use profane language.
  • Call you before 8AM or after 9AM (your time).
  • Threaten to take your property.

A debt collector is breaking the law if they violate any of the above rights. Many collectors just assume that you don’t know your rights, and might use tactics that are otherwise unethical. By showing them that you know your rights, gives you the upper hand.

How Do I Stop Unwanted Calls From Debt Collectors?

Dynamic Recovery Solutions

You should always communicate with Dynamic Recovery via mail, and try to avoid phone calls. Primarily because it’s important to have a paper trail when you are negotiating.

When a Dynamic Recovery calls, inform them that you will only communicate over mail from now on, and that they should send you a letter regarding the debt dispute.

In addition, you can always block their number on your cell phone.

Will Dynamic Recovery Solutions Ever Sue Me?

It is possible for a collections agency to sue, or try and garnish your wages. Wage garnishment, however, is only legal in some states so you will need to check your state.

While legal action usually isn’t the first tactic a collections agency will use for debt collection, it might be eventually. That’s why it’s important to remove the collection as quickly as possible. Again, this is usually done with a reputable credit repair company such as Lexington Law.

Dynamic Recovery Solutions Contact Information

While it is recommended that you avoid phone calls if possible, you will need their mailing address information if you decide to write them a debt validation letter or pay-for-delete letter.

Mailing Address:

135 Interstate Blvd. Ste 6
Greenville, SC 29615-5720

Website:

https://www.gotodrs.com/

Phone Number:

(877) 821-1659