Corporate Profile - Debt Recovery Solutions

Corporate Profile
6800 Jericho Turnpike, Suite 113, Syosset, New York 11791
Ph (516) 229-4803 • Fax (516) 228-7180
Background Information
• 
• 
• 
Debt Recovery Solu/ons, LLC ("DRS") was founded in February, 2002 and for the past fourteen (14) years has sustained a determined growth paFern by merging the quali/es inherent to a successful recovery effort with the flexibility of technology. To accomplish our goal of op/mum return, we recognize that leading edge technology was required to provide the complete range of service that is necessary to retain rela/onships. Technology and innova/on are keys to the sustained growth of our company in the recovery of all ages of a receivable. Focus on technological advances add further value to the quality and consistency of effort that we must place to maintain that compe//ve edge. During the past fourteen (14) years, our clients referred more than 13,000,000 claims to our office in excess of $6,500,000,000. Na/onwide referrals of primary, secondary and ter/ary accounts receive aggressive telephone recovery ac/vity at our Syosset, NY call center. Our rela/onship with a majority of our clients has con/nued unabated for many years due to the professionalism of our efforts and the quality of our results. Compliance and Regulations
All of our recovery ac/vi/es are performed within the strict guidelines of applicable City, State and Federal laws governing our industry. Prior to the ini/a/on of any collec/on ac/vity, all of our referred accounts are cleansed through a database of CFPB/
FDCPA/TCPA/FCRA li/gants. Complaints are not to be tolerated. However, we recognize that there will be situa/ons that will promulgate a complaint. Protec/ng our brand, and that of our client, is always paramount. We have a dedicated compliance staff that handles all of the complaints made to any of the State or Federal regulatory agencies that govern our industry. This compliance department reports directly to the owners of the company. DRS is owned and managed by aForneys with more than thirty five (35) years of consumer collec/on experience. Call Center Services
• 
DRS has the required size and exper/se in the collec/on and li/ga/on of consumer receivables to expedi/ously process any volume of claims that may be referred. • 
Our state of the art call center is conveniently located between New York City and the suburbs of Long Island to aFract the best collec/on professionals available. • 
We employ professionally trained collectors, skip tracers and client services representa/ves with broad experience in the recovery of delinquent receivables. • 
Our compensa/on program and benefit package are the most lucra/ve in the industry and our turnover rate is well below industry average. Collection Philosophy
The sterling reputa/on that DRS has earned during the past fourteen (14) years as one of the most efficient and effec/ve collec/on agencies is premised upon a persistent and ethical collec/on effort. To accomplish our goal of op/mum return, we developed a highly progressive and innova/ve recovery program s/mulated by a segmenta/on strategy designed to predict a consumer's poten/al for the repayment of a debt. These segmenta/on schemes are driven by a combina/on of demographic aFributes, historical payment performance summaries and probable earning capabili/es. Within the strategic alliance of each segment, the data that is derived can be used to iden/fy individuals who will be eligible for one or more of the crea/ve payment incen/ves that we can propose. Collection Philosophy (con’t)
As accounts move through our collec/on program, they pass through a predetermined selec/on criteria which iden/fies the condi/ons that exist at the present /me and distributes debtor account records into various levels of required collec/on or inves/ga/ve ac/vi/es. Special indicators highlight the cri/cal aspect of each consumer's financial circumstances. The DRS ac/on and response recovery program aggressively mo/vates a response from mail dunning and messages lea by a pool of thirty (30) outbound predic/ve dialing collectors. Currently, we have capacity to add an addi/onal twenty (20) collectors. The success of our recovery program is determined by the intensity of our telephone collec/on and skip tracing ac/vity. Although our professionally wriFen and tested mail dunning will s/mulate a response on a segment of a porbolio, aggressive telephone collec/on ac/vity will create the level of response that retains rela/onships with our clients. The DRS outbound telephone strategy requires ac/va/on within twenty-­‐four hours of the receipt of an account and an aggressive telephone communica/on at available points of contact during the ini/al recovery stages. An aggressive and highly intensive program is then u/lized un/l payment is received or the account is returned uncollectable. Litigation Procedures
DRS maintains a rela/onship with a na/onal affilia/on of aForneys who are proficient in both pre-­‐li/ga/on and post-­‐li/ga/on consumer recoveries. These law firms have sustained an aForney-­‐client rela/onship with many major financial ins/tu/ons, City and State Governmental agencies and numerous other consumer creditors. They u/lize a sophis/cated li/ga/on soaware program to support the en/re li/ga/on process. This automated li/ga/on monitoring system was designed to facilitate the orderly flow of each phase of the li/ga/on process un/l judgment is entered and execu/on is placed. The quality and thoroughness of counsel's efforts directly affects the con/nuity of a rela/onship that DRS has established with their clients. Licensing, Bonding and Insurance
• 
DRS is licensed and bonded to perform ac/vi/es as a collec/on agency and debt buyer in all states which have a licensing and bonding provision. • 
We have secured all of the necessary insurances to protect the partnership that we have created with our clients. • 
Licensing, bonding and insurance informa/on is available upon request. Biography of Principals
Donald Schwartz, Esq.
Resident of New York, New York
Graduate: Boston University &
New England School of Law Elliot Schwartz, Esq. Resident of Woodbury, New York Graduate: Brandeis University & Hofstra Law School Donald and Elliot Schwartz have been ac/vely involved in the debt collec/on industry for the past thirty five (35) years. As aForneys, they appreciate and stress the importance of compliance with Local, State and Federal laws governing this industry. Both partners were principals of Coldata, Inc., a prominent na/onal collec/on agency that was sold to Intellirisk Corp in 1999. Under the direct supervision of Donald and Elliot, Coldata, Inc. serviced debt porbolios for many of the major banks (American Express, Ci/bank, Capital One, etc.) Credit Unions (Municipal Credit Union, Teachers Federal Credit Union, etc.) and City and State governmental agencies (NYC Parking Viola/ons Bureau, NYC Environmental Control Board, NY State Higher Educa/on Services Corpora/on, CUNY Schools, New School for Social Research, etc.). DRS is located in Syosset, New York and has the capacity to grow exponen/ally to service the needs of its clients. State of the art technology and aggressive, but complaint, collec/on efforts has allowed DRS to secure and maintain contracts with major Telecommunica/on Companies ( US Cellular, Verizon, T-­‐Mobile and Sprint) Healthcare and Financial Debt Buyers ( Pendrick Capital Partners, First Financial Asset Management, DNF Associates and Cascade Capital) and Retail Installment Loans (Valley Na/onal Bank and Sleepy’s Financial). To date, placements have exceeded 13 million accounts. Donald and Elliot are both in/mately involved with the day to day opera/ons of the company and look forward to con/nuing their stellar careers in this industry.