Debt Resolve, Inc. of White Plains, New York, announced today that its debt-buying subsidiary, DRV Capital, LLC, has purchased its first two portfolios of distressed debt with a face value of $8 million, only 11 days after closing a $20 million credit facility. The portfolios purchased include a credit card portfolio sourced to college students and a payday loan portfolio.
Howard Knauer, DRV Capital’s President, stated: "These acquisitions fit in perfectly with our model for buying opportunistic debt which lends itself to settlement over the Internet using the DebtResolve online system.
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