SOURCE: Debt Resolve, Inc.

February 16, 2010 13:52 ET

Debt Resolve Announces Joint Marketing Agreement With Finance 500

Finance 500 Will Market the DebtResolve™ System to Its 1,600 Bank Clients

TARRYTOWN, NY--(Marketwire - February 16, 2010) - Debt Resolve, Inc. (OTCBB: DRSV) announced today that the company and Finance 500 of Newport Beach, CA have signed a joint marketing agreement to market the DebtResolve™ system to Finance 500's bank clients. Finance 500 is one of the leading underwriters of brokered deposits in the United States, serving more than 1,600 banks and providing more than $22 Billion in financing for their bank clients in 2009.

Under the terms of the agreement, Debt Resolve and Finance 500 will work together to market the company's debt resolution solutions to these banks for use with their customers. The system is designed to deliver the best possible experience for those consumers who wish to resolve their outstanding debt issues with their creditors and allows them to do this in a dignified manner in the privacy of their own home.

The benefit for the banking clients of Finance 500 who use the DebtResolve™ system is that it provides the channel with the lowest marginal cost of collection, increases portfolio yields and recovers more per account than banks recover through traditional methods. The system also gives banks an additional way to contact their customers (via the Internet, which is quickly becoming the preferred method of contact for consumers in the United States) while being perceived as a less threatening channel than demand letters or collection calls.

Commenting on the agreement, David Rainey, President and Interim CEO of Debt Resolve, stated, "The completion of this agreement is an important step in accelerating our penetration of the banking sector. Our patented, proprietary tools enable creditors to contact their customers more efficiently and collect more outstanding debt at a significantly lower cost. In addition, the creditors will be certain of compliance with all federal and state regulations in relation to fair credit practices, and as a result they will enjoy higher levels of customer satisfaction and retention."

About Debt Resolve, Inc.

Debt Resolve provides lenders, collection agencies, debt buyers and hospitals with a patent-based online bidding system for the resolution and settlement of consumer debt and 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.

About Finance 500, Inc.

Finance 500 is a leading provider of client-focused financial services for institutional investors, banks, businesses and individuals. As one of the nation's leading underwriters of brokered Certificate of Deposits, the company serves more than 1,600 banks. The company is a market-maker in approximately 500 stocks, providing financial consulting, investment banking and technology services to institutional investors and other brokerage firms, is a financier and consultant to micro-cap technology companies, a manager of portfolio solutions for pension plans, trusts and individuals, and a securities dealer handling investment transactions for approximately 5,000 clients on a retail basis.

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.

Contact Information

  • Media and Investor Contact:
    Jay Goth
    951-676-6509