TARRYTOWN, N.Y., Sept. 9, 2011 (GLOBE NEWSWIRE) -- Debt Resolve, Inc. (OTCBB:DRSV) (the "Company") announced that Resolution Services Group, LLC (RSG), the creator of the TaxSeasonSettlements.com online solution, and Debt Resolve have entered a partnership where RSG will utilize Debt Resolve's DRSettle™ software as the core technology product offered through TaxSeasonSettlements.com.
Jerry Donohue, RSG's CEO, stated, "TaxSeasonSettlements.com is a revolutionary tool that can be utilized by Credit Issuer's, Collection Agencies, Debt Buyers, Healthcare Providers, Student Loan Lenders, and other various users, without interrupting their normal collection flow. By creating a Per Transaction pricing solution for Tax Season (January to April), there is no cost to the clients unless the customer utilizes the settlement option."
Tom Nusspickel, RSG's President, stated, "We all know that Tax Season is the best collection time of the year. By driving customers to this website, anyone with outstanding debt can immediately increase their ROI by having the customers utilize a self-service, online channel at a fraction of the cost of paying a collector. Additionally, with proven results that show that 53% of the customers that utilize DRSettle™ follow through on a settlement, and that those settlements are 14% above what the average collection floor produces, we feel it is a game-changer for tax season."
David Rainey, Debt Resolve's President and CFO, stated, "We are very pleased to partner with an innovative industry company like RSG to offer a solution specifically tailored to the January to April tax collection season. We believe that our DR Settle solution provides a best-in-class web channel for this busy collection period. Our solutions have proven statistical track records that have a strong impact on collection operations. We also look forward to working with RSG on other initiatives as our relationship develops."
"The functionality of the Debt Resolve technology has proven to increase ROI by lowering collection cost. The implementation for TaxSeasonSettlements.com is a clear example of one of the many customized uses of our technology. By providing the most advanced functionality in online debt negotiation and launching a per transaction based pricing model for this partner only, we feel this is a great opportunity to introduce the technology to members of collection industry and assist them in separating themselves from their competition. We are very excited to partner with RSG and are looking forward to a long relationship with them," stated Debt Resolve's Chief Operating Officer, Mike Cassella.
About Debt Resolve, Inc.
Debt Resolve provides lenders, debt buyers, collection agencies, collection law firms and hospitals with a patent-protected online bidding system for the resolution and settlement of consumer debt as well as a collections and skip tracing solution that is effective at every stage of collection and recovery. The company also provides web-based payment platforms for the financial and healthcare industries. The company is publicly held and trades on the OTC Bulletin Board under the symbol DRSV. Debt Resolve is headquartered in Tarrytown, New York. For more information, visit http://www.b2i.us/irpass.asp?BzID=1976&to=ea&s=0.
About Resolution Services, Group, LLC
Resolution Services Group, LLC, (RSG) a Delaware-based Limited Liability Corporation, was founded as a business process outsourcing management firm by former HSBC colleagues Jerome P. Donohue and Thomas Nusspickel. The company provides expertise and solutions for the recovery of non-performing assets for small, medium, and large banks, as well as other industries with non-financial expertise. In addition, we provide analytics for credit approvals, fraud processing, online advertising, and new loan and card products. For more information, visit www.taxseasonsettlements.com or www.rsgrouponline.com or email Jerry Donohue at jerryd@rsgrouponline.com or Tom Nusspickel at tomn@rsgrouponline.com
Forward Looking Statements
Certain statements in this press release and elsewhere by management of the Company that are neither reported financial results nor other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of the Company's operations. Debt Resolve undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are advised to consult any further disclosures made on related subjects in the Company's reports filed with the SEC. For more information, visit http://www.b2i.us/irpass.asp?BzID=1976&to=ea&s=0.