Real Time Resolutions or RTR is a loan servicing company that also specializes in third-party debt collection. RTR has received complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including failure to verify debts and attempting to collect debts not owed. If you have been contacted by this debt collector, make sure you understand your rights before taking action.
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They’re legit. According to the BBB, Real Time Resolutions, Inc. is a legitimate collection agency founded and incorporated in 2000. The BBB established RTR’s profile page in 2003. RTR is listed as a collection agency, mortgage broker, and financial services company. Buzzfile estimates RTR’s annual revenue at $30.1 million and the size of its headquarters staff at 103 employees, with a total of 350 employees across all locations.
According to its website, Real Time Resolutions “is a full-service loan servicing and recovery company specializing in mortgage, auto, student, credit card, and other consumer loans.” RTR’s mission is “to help… customers with their financial obligations in all stages of their loan cycle…with convenient payment solutions.”
Unlike many third-party collection agencies, RTR’s main business practice is not focused on delinquent debts. Instead, RTR accepts transfers of existing loans form original creditors, then maintains the payment history over the life of the loan. Although some of the loans Real Time Resolutions services may be delinquent, many lenders transfer loans to third-party loan servicers as a normal method of handling their accounts receivable administration.
RTR “is both a servicer and a debt collector.” In addition to current loans that have been transferred to RTR in the normal course of business, RTR also accepts delinquent accounts. RTR’s website does not provide a lot of information about its 3rd party collections division, stating only that they “train our professionals to engage with you in a respectful, knowledgeable, and courteous manner, …take the time to understand your situation, and follow up with solutions that make sense.”
Real Time Resolutions offers a variety of repayment options, including ACH withdrawals, phone payments, and recurring payments. In addition, their website provides access to options such as requesting a payoff quote and requesting a change of due date.
As for compliance, RTR’s About Us page states its commitment to information privacy. In addition, its Customer Center page includes links to dispute and complaint forms; the Ask Dr. Debt website; the federal Consumer Finance website; and regulatory agencies such as Fannie Mae and Freddie Mac.
The BBB has closed 89 complaints against Real Time Resolutions in the preceding three years, with 23 complaints closed in the past 12 months. Almost all of those complaints allege problems with billing and collection services. As of March 2015, the Consumer Financial Protection Bureau (CFPB) has closed 139 complaints. Justia lists at least 22 cases of civil litigation involving RTR.
Real Time Resolutions, Inc.
P.O. Box 36655
Dallas, TX 75235-1655
Telephone: (855) 466-3090
Absolutely. Here are some Sample Cases filed in Federal Court
Complaints against Real Time Resolutions commonly cite problems resulting from alleged inaccuracies in accounting and credit reporting. In January 2018, a complainant indicated that his mortgage was sold by Bank of America to Green Tree. After this initial transfer, the “step rate loan modification” in place with Bank of America was disregarded, and Green Tree allegedly began servicing the loan as if it were in default. Despite a prolonged effort on the part of the complainant to resolve the misunderstanding with Green Tree, he was unable to remodify the loan but kept making payments anyway. Subsequently, Green Tree became Ditech, and Ditech sold the loan to RTR. Once RTR assumed the responsibility of servicing the loan, the complainant indicated that his payments had been reported as not being on-time. In addition, although he requested copies of the original documentation transferring the loan from Bank of America to Green Tree/Ditech and then to RTR, he had not received anything. As a result of these accounting irregularities, he had been unable to refinance his mortgage because the late payment reporting created the impression that he had defaulted on his original loan. In response,Real Time Resolutions indicated that they had contacted the complainant to discuss problems with accounting and loan transfer documents and had agreed to request a deletion of all negative information related to RTR’s accounting with the three national credit reporting agencies.
Also in January 2018, a complainant indicated that his online payments were not being posted; that as a result he was being charged penalties and fees; and that he had been unable to access the online customer service portal. He indicated that he had been consistent in making payments to Real Time Resolutions, but that despite complaints and verbal assurances that his payments were being credited, his statements were not reflecting his payment history. He expressed his concern that he may also be liable for additional fees and penalties that may not have been appearing on his statement. Finally, he had become frustrated with RTR’s online customer service email portal and had been unable to successfully submit a complaint. In its response, RTR provided a complete statement showing payments and late fees. They also provided a statement of attempted payments that had failed. They indicated that the failed payments appeared to have been the result of data entry errors in which a “0” had been omitted from the account number.Real Time Resolutions also provided clarification about how to submit complaint information
The Fair Debt Collections Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) are enforced by the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB). The FDCPA regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt.
The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA). The complaint above illustrates how these laws can be extremely effective tools to hold accountable collection agencies who fail to adhere to their provisions.
These laws also provide individuals with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.
Seek legal assistance to find the relief you may be entitled to if you are having difficulty resolving disputes with a debt collection agency.
Your debt harassment checklist:
- You are receiving multiple calls per week from third party collection agencies
- You are receiving early morning or late night calls from debt collectors
- You are recieving calls at work from a debt collection agency
- Debt collectors are calling your friends, neighbors, or coworkers
- Collectors are threatening you with violence, a lawsuit, or arrest
- A debt collector attempts to collect more than you owe
- You are being threatened with negative credit reporting
- A debt collector attempts to intimidate you
- Criminal accusations are being made towards you
- Use of obscene language during an attempt to collect
- Automated robocalls are being made to your phone in an attempt to collect
If you’ve been harassed by debt collectors and even one of these has happened to you, we can help. We will fight for your rights.
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