If you act quickly, you can get DRS out of your hair with a simple debt validation request. Instead, consider one of the following strategies to stop the phone calls, letters and damage to your credit score: This is the quickest solution, but it's not necessarily the best. If you have the money, you may think that paying Direct Recovery Services is the easiest way to go. 3 ways to remove DRS from your credit report ![]() ![]() The account can remain on your report for up to seven years, even if you make payments, unless you remove it. It will also appear on your credit report as a collection account, which can significantly damage your credit score. If you owe a debt to a collection agency, it can call you and send letters and text messages until you pay the debt or make other arrangements. Others, like DRS, don't buy old debt they partner with service providers and earn a percentage of the proceeds they collect from consumers.ĭRS, which may also appear on your credit report as Direct Recovery Associates, collects both consumer and business debts. Many debt collection agencies buy old debt for pennies on the dollar and profit from the money they earn collecting the debt. If a service provider, such as a cable TV, cellphone or credit card company, is unsuccessful collecting unpaid debts from its customers, it often gives up and turns to third-party agencies for help. originated in 2015 and has its headquarters in Two Harbors, Minnesota. It’s a member of the American Collectors Association and profits by collecting debts for service providers. This article will provide you with important information about DRS, your consumer rights and the steps you can take to remove it from your credit report for good. More importantly, your credit score will suffer for years if you don't remove Direct Recovery Services from your credit history. However, regardless of whether you owe this debt collector money, the voicemails and robocalls won't stop until you deal with the problem. It's easy to block the agency's phone number and toss the unopened letters into the recycling bin. Loans issued under the PPP carry a 1% interest rate, but the loans are completely forgivable if certain conditions are met.It's tempting to ignore phone calls and letters from Direct Recovery Services (DRS). Launched in March 2020 in response to the economic uncertainty that was triggered by the novel coronavirus (COVID-19) pandemic, the PPP made hundreds of millions of dollars in federal funding available to businesses struggling as a result of the pandemic. ![]() Employee allowances (sick leaves, medical, parental, and vacation pay)įederal authorities are aggressively targeting individuals and companies for PPP loan fraud.Salaries, bonuses, commissions, wages (maximum $100,000 per annum per employee).Businesses who took out these loans could spend the borrowed sum on: The primary goal of PPP loans was to help businesses survive the pandemic and ensure that people don’t lose their employment. If you think ASCENSIONPOINT RECOVERY SERVICES LLC has done something nefarious, then report them here using the review box at the bottom of the page. Often, however, whistleblowers & employees reveal that their employers have abused their funds. These amounts were reported to the SBA by the company. 3 ASCENSIONPOINT RECOVERY SERVICES LLC claims to not have misused the PPP Loan in any ways.
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