Real Time Resoultions: How to deal with a debt collection call

 Real Time Resolutions (RTR) is a well-established debt collection agency. They are a full-service loan servicing and recovery company specializing in auto, student, credit card, mortgage, and other consumer loans. RTR acts as a collection agency for original creditors, third-party creditors, and debt that they purchase. They are a woman-owned business and have been in business since 2000. They have about 180 employees, with the primary office in Dallas, Texas.

Just like dealing with any debt collector, be prepared. Verify that you owe the debt, that the company does not harass you, and that you have the right tools to settle your debt.

What is Real Time Resolutions? Are they real or a scam?

Real Time Resolutions, Inc. is not a scam. It is a real debt collection agency. They serve original creditors, third-party debt owners and also buy debts from credit card companies and banks. RTR both services mortgages and also act as collection agents for delinquent mortgages. It is important to check if they are contacting you for a mortgage or non-housing debt. 

Do you owe Real Time Resolutions money?

Real Time Resolutions services debt from many creditors. They also buy the debt for pennies on the dollar. They may appear on your credit report as a collection agency inquiry or as the owner of the debt.

However, there are various reasons that you may not owe them money. For example, the debt may not belong to you, the statute of limitations expired, or you already paid off the debt.

Step 1 - Validate your debt.

The first thing that you need to do when contacted by Real Time Resolutions is to validate the debt.  After the initial contact, either by mail or phone, you have 30 days to validate the debt, so act quickly. It is advisable to send a registered letter. Validate the debt even if you are not sure if you are responsible for it.

According to the law, RTR must validate the debt. If you don’t receive proper validation, then send a notice of insufficient validations. If they cannot validate the debt, it has no legal basis to collect it.

>>Learn more: Follow the steps described in the Bills.com debt validation article to preserve your rights under the FDCPA.

Step 2 - Check to see if the Statute of Limitations (SOL) is valid.

SOL laws set the amount of time a creditor can sue and collect on the debt. Debt collectors have a limited time to sue you and get a judgment. In most states, a third-party collection agency like RTR cannot sue after the SOL expires. However, check to see if they are collecting for a third-party debt buyer or the original creditors (first-party creditors). Also, it is important to check if the debt is related to a mortgage. SOL laws are much don't expire quickly for mortgage debt, versus the SOL for most unsecured debt such as credit cards and medical bills.

Statute of limitations laws are not easy to understand and vary by state and type of debt or contract.  The creditor may have a different opinion on the expiration date due to re-aging a debt or the relevant state law that applies. It is always wise to respond to a lawsuit.

In any case, RTR still has the right to contact and get you to negotiate a settlement.

>> Learn more: Learn more about states' laws regarding statute of limitations.

Stop Real Time Resolutions, Inc. from debt collection harassment.

Debt collectors often are extremely aggressive in their collection tactics. As is true for all debt collection agencies, RTR is strictly regulated by The Fair Debt Collection Practices Act.

Here are some of the actions that they are forbidden to do:

• Seek Unjustifiable Amounts
• Use the Telephone to Annoy or Harass
• Use Abusive or Threatening Language
• Contact a relative, friend, or colleague who doesn’t own the debt
• Threaten Arrest
• Call at an unreasonable time such as before 8:00 AM or after 9:00 PM
• Contact a Consumer at Work

Consult with a consumer rights attorney if you believe that Real Time Resolutions violates your rights under the FDCPA. Discuss possibly filing a lawsuit against the collection agency; not only could a lawsuit result in the cancellation of your debt, but you could be awarded damages.

Learn how to negotiate your debt with Real Time Resolutions

Real Time Resolutions will contact you, hoping to collect the debt. When serving creditors with debt in an early stage, they are interested in closing the account quickly. They are interested in getting you to make a full payment or set up a payment plan. According to their website, 

"It is our vision to help our customers with their financial obligations in all stages of their loan cycle. Whether your loan is up to date, or falling behind, we offer convenient payment solutions.

However, since they also buy debt or work with creditors with debt in charge-off status, they will also negotiate a settlement.

Your first option is to negotiate directly with RTR. It is stressful and time-consuming. It takes a significant amount of time and effort. To receive a beneficial settlement, it is helpful if you convince them that you are in a hardship. Here are three tips: Be calm, clear, and convincing. Be persistent. Send a debt negotiation letter.

Suppose you do not feel comfortable negotiating, then partner with a debt negotiation company. Debt settlement companies rely on databases of past settlements, so their negotiators know what range original creditors and collection agencies have accepted for payments in the past. They can reach a negotiated settlement with your debt collection agency quickly.

Complaints and lawsuits about Real Time Resolution

Like most collection agencies, Real Time Resolution, Inc. has complaints registered in the BBB and the Consumer Finance Protection Bureau (CFPB). The CFPB has complaints about collecting a debt that the consumer didn’t owe, harassment, and impersonating an attorney, law enforcement, or government official. The complaints themselves are not proof of illegal or improper activities, although a good source to learn about how consumers perceive the interactions and problems they have with the debt collection agencies.

Here is a couple of example of complaints:

Written notification about debt - Didn't receive enough information to verify debt

"I was not aware of this debt until a credit report was ran in order to get a mortgage. I have never received a phone call or mail about this debt. I called the company and when they asked for my information phone number, etc. they stated that was the phone number they had on file, but that in their system it was marked as disconnected. I have had the same phone number for over 10 years. I was not able to verify what the debt was for. I asked to speak with a manger to get more information And resolve this matter if possible and was told that they dont do that and if I wanted to file a dispute it would have to be through email.  I have NOT received any communication from Real Time Resolutions until I called them about this. My credit report is showing over a year+ of late payments to this company."

Attempts to collect debt not owed  - Debt was paid "Dealing with Real Time Resolution has call again today XXXX and yesterday. They call claim I owe money for tuition to XXXX XXXX  XXXX. The amount is about {$280.00}. I finished attending XXXX XX/XX/XXXX.  I have finished paying my student loans through garnishment this XX/XX/XXXX, where it was also noticed I overpaid by {$2000.00} and reimbursed me. I have told them this and they continue to tell me they have no record. I have requested them to mail me the information, they have said they have, yet still haven't seen a letter. Since they don't seem eager to send me information I am feeling it's more a scam."

Deal with an Real Time Resolutions lawsuit

Real Time Resolutions can contact you, but they are forbidden to make empty threats to sue you when making a collection call. If the statute of limitations is valid,  they do have the right to start a lawsuit and pursue legal remedies such as a wage garnishment or bank levy.

If it files a lawsuit against you, consult with a lawyer in your state with consumer law experience. You must file an answer to their summons and complaint or risk losing the lawsuit by default. Ignoring a summons will not make it go away, so take action to respond to the lawsuit.

Can you remove Real Time Resolutions from your credit report?

Yes, it is possible to remove inaccurate to incorrect items from your credit report. 

However, accurate negative tradelines stay on your credit report for seven years from the delinquency date. Bankruptcies remain for ten years, and judgments can remain for even longer if the creditor renews them.

If you notice an inaccurate item from RTR or a company associated with it, file a dispute with the Credit Reporting Agencies and have the negative items removed from your credit report.

>> Learn more: Learn how to dispute a credit report.