Absolute Resolutions Investments LLC – A Leading Debt Collection Company
Absolute Resolutions Investments LLC, also known as Absolute Resolutions Corporation (ARC), is a prominent debt collection agency based in Bloomington, Minnesota. Founded in 2001, ARC specializes in purchasing distressed consumer debt portfolios like credit cards, retail cards, and personal loans from banks and financial institutions at a steep discount. The company then tries to collect the full original debt amount from consumers.
Overview of Absolute Resolutions Investments’ Operations
Absolute Resolutions has over 19 years of experience in the debt collection industry. The company buys charged-off accounts where the original creditor has given up on recovering the debt. ARC acquires these defaulted debts for pennies on the dollar and makes a profit if they are able to collect more than what they paid. The debt collection agency pursues collection through phone calls, letters, lawsuits, garnishments, bank levies, and other methods. Although controversial, these aggressive tactics are legal methods for creditors and debt buyers to recover money they claim is owed.To scale its collection lawsuits nationwide, Absolute Resolutions Investments works with law firms focused on debt collection litigation, like:
-- Stenger & Stenger PC
- Scott & Associates PC
The company has purchased debts from large banks and financial institutions like:
- Citibank
- Chase
- Capital One
- Synchrony Bank
- Wells Fargo
If Absolute Resolutions sends you a collection letter or sues you, it likely obtained your past-due account from one of these major credit issuers.
Why Absolute Resolutions Investments LLC Sues Consumers
Debt collection lawsuits allow companies like Absolute Resolutions Investments to obtain court judgments against consumers. These judgments can then be used to aggressively collect through bank garnishments, wage garnishments, property liens, and other methods.Most collection agencies file small claims lawsuits limited to $10,000 or less. However, in some states, ARC pursues higher court judgments worth over $100,000 .Consumers often lose these lawsuits by default when they fail to respond. However, even if you respond, debt buyers sometimes have trouble proving adequate documentation and evidence for their claims. This gives consumers bargaining power in settlement negotiations.
Common Legal Issues With Absolute Resolutions
Although Absolute Resolutions Investments engages in legal collection activity, consumers have accused the company of violating consumer protection laws like the Fair Debt Collection Practices Act (FDCPA). For example:
-- Attempting to collect debt during illegal calling hours
- Failing to properly verify and validate debts
- Pursuing expired debt or debts belonging to the wrong person
- Reporting inaccurate information to credit bureaus
The FDCPA allows consumers to recover up to $1,000 plus attorney fees for violations. ARC has paid hundreds of thousands in lawsuit settlements for alleged wrongdoing.
What To Do If Absolute Resolutions LLC Sues You
If you are sued by Absolute Resolutions Investments, you MUST respond to avoid losing a default judgment. Work with a consumer defense lawyer to fight the case. Here are some options:
Negotiate a Settlement
Many Absolute Resolutions lawsuits end in settlement agreements. This may require you to pay a reduced lump sum or set up a monthly payment plan. Get written confirmation from ARC that settlement will satisfy the debt.
File an Answer Disputing the Claims
You can file an Answer document contesting ARC’s claims and allegations. Require the plaintiff to prove the debt belongs to you and the amount owed. They may dismiss for lack of proof.
Assert Affirmative Defenses
Allege violations of the statute of limitations or consumer protection laws. These defenses can get the case dismissed.
-Claim Bankruptcy or Social Security
If you have filed bankruptcy or receive protected income like Social Security, inform the court. Your assets may be exempt from collection.
Deleting Absolute Resolutions From Your Credit Report
Even if you pay or settle an Absolute Resolutions debt, it may remain on your credit report for up to 7 years. However, federal law requires credit reporting to be accurate and verifiable.You can dispute ARC accounts with credit bureaus and potentially get them removed if Absolute Resolutions cannot prove the details. This can improve your credit scores.Retain a credit repair company to handle disputes on your behalf. Credit repair uses consumer laws to challenge negative items and improve credit reports.
About Absolute Resolutions Corporation
Absolute Resolutions Investments LLC operates as a subsidiary of Absolute Resolutions Corporation (ARC). The parent company focuses on purchasing and recovering various types of debt including:
-- Consumer credit cards and loans
- Commercial business credit accounts
- Specialty finance portfolios
- Commercial equipment leases
Absolute Resolutions Corp provides debt collection and recovery services for credit issuers, banks, and other financial services companies. In addition to its headquarters in Bloomington, Minnesota, ARC maintains several other locations across the United States.
Contacting Absolute Resolutions Investments
Consumers can contact Absolute Resolutions Investments LLC at:Absolute Resolutions Investments LLC
8000 Norman Center Drive, Suite 860
Bloomington, MN 55437Phone: 1-800-713-0670For credit reporting disputes, call 1-888-766-4028.The company’s website is https://absoluteresolutions.com. Here you can make payments, check account statuses, and submit disputes.
Getting Help With Absolute Resolutions Collections
If Absolute Resolutions LLC is pursuing aggressive collections against you, get advice from a consumer protection attorney. Counsel can help halt harassment, settle debts, and make sure the company follows fair debt collection laws.Free legal aid may also be available to low-income consumers dealing with Absolute Resolutions. Contact your local legal aid office to learn more.