Rosa Resigns from Debt Resolve

Richard Rosa stepped down from his position as president and chief technology officer of online collection technology provider Debt Resolve Inc. effective Dec. 31, 2007, according to a filing with the U.S. Securities and Exchange Commission.

James Burchetta, Debt Resolve chairman and CEO, said Rosa’s resignation has been in the works. “He has another opportunity. He’s a friend of the company. This is a management change,” said Burchetta. “We have planned for this. Rich (felt) the end of the year was a good time to do it.”

Currently there is no acting president at the White Plains, N.Y.-based firm but the board plans to name someone in the first quarter, said Burchetta.

Michael A. (Tony) Sakovsky, Debt Resolve’s director of technology since January 2007, was named vice president of technology. Burchetta said that Sakovsky has been leading technology efforts for a time.

The company also announced that Alan M. Silberstein resigned from its board effective Dec. 31, 2007 for personal reasons and to provide a seat for a nominee from The Resolution Group.

Debt Resolve announced in an SEC filing last month that Irvine, Calif.-based TRG will provide up to $4.5 million in funding for Debt Resolve to create a collections oriented product for the subprime home mortgage work out/note modification market "Debt Resolve Borrows to Create Subprime Mortgage Workout Product," Dec. 19, 2007).

Silberstein had been on the board since 2003 and served as Debt Resolve president and chief operating officer from June 2003 to October 2004. Silberstein was president and CEO of Western Union, the money transfer firm that was a division of First Data Corp.