TARRYTOWN, N.Y., Oct. 26, 2010 (GLOBE NEWSWIRE) -- Debt Resolve, Inc. (OTCBB:DRSV), the provider of the proprietary DebtResolve® software to major banks and other businesses which own or service consumer debt portfolios, today has announced the release of a major upgrade to its software offerings, DR Collect™, the trade name of this new product.
DR Collect, specifically targeted to the collection agency and collection law firm market, allows an agency or law firm to implement a patented online collection channel in a matter of days. These completed upgrades now include a fully automated front end for the implementation of the system as well as the automation of the registration process, the payment process for monthly agency fees and the upload process to load accounts into the system.
The DR Collect system is now capable of importing placement files in almost any format so that clients will no longer have to follow other data standards. Clients can use file formats they already use for other vendors or a standard export from their operating collection floor system. The frequency of upload is also determined by the client. In order to further promote adoption of the DR Collect platform, the Company has implemented a new pricing schedule for the agency and law firm market that is simple and cost effective.
Future upgrades are expected to automate the back end of the system to distribute all reporting back to the agency or law firm with no manual integration and allow limited ability to change the screens to be used by the client. Collectively, we anticipate these upgrades will virtually eliminate the implementation burden for our agency and law firm clients, putting them in control of many aspects of the system.
David Rainey, Debt Resolve's President and CFO, stated, "We have historically provided a 30-day guaranteed installation to our clients. With DR Collect, we have now reduced the implementation time to approximately 7 days from the date of contract with the client for the agency and law firm market. Also, our new pricing makes DR Collect™ the most competitive collection tool and channel in the market. We will be aggressively rolling out this world-class solution to the agency and law firm market through our enhanced sales and marketing organization."
James Brakke, Debt Resolve's Co-Chairman and CEO, stated, "We believe there is no comparable offering to DR Collect™ in the market today. DR Collect is a robust solution that includes all of the traditional advantages of the DebtResolve system and much more. As a company that has refocused on its leading edge technology mission, this upgrade is the first of many to come from the "new" Debt Resolve."
About Debt Resolve, Inc.
Debt Resolve provides lenders, collection agencies, collection law firms, debt buyers 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 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.
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.