We recently received a "pay off notice" in the [regular/snail] mail today and it was from a company named DRS/Dynamic Recovery Solutions - claiming my husband owes Fidelity Federal Bank $427.76.
[Any company or collection agency, whether they just bought the information, or traded it from another or not, cannot collect on any debt [depending on the state] when it has been 'time barred' in that state.]
We are located in South Carolina [the same place where DRS is located], and the 'time bar' is 3 years - which means, they cannot collect on any debt over 3 years old - and besides that - this debt is fraudulent.
After speaking to the bank, it was not ID theft, nor has he ever had an account with them - so that made it a fraudulent notice.
I will be filing a formal complaint with the Federal Trade Commission and I will let them handle it.
If you're here because of this company, I suggest you also file a complaint @: https://www.ftccomplaintassistant. Gov/FTC_Wizard. Aspx? Lang=en
What they're doing is illegal.
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