Start My Answer

How to Resolve Debt With Asset Recovery Solutions

George Simons | February 01, 2025

Fact-checked by Patrick Austin, J.D.

Patrick Austin
Attorney from George Mason
Patrick Austin, JD

Patrick Austin is a licensed attorney with a background in data privacy and information security law. Patrick received his law degree at George Mason University's Antonin Scalia Law School, where he served as the Editor-in-Chief for the National Security Law Journal.

George Simons
Co-Founder of SoloSuit
George Simons, JD/MBA

George Simons is the co-founder and CEO of SoloSuit. He has helped Americans protect over $1 billion from predatory debt lawsuits. George graduated from BYU Law school in 2020 with a JD-MBA. In his spare time, George likes to cook, because he likes to eat.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: You can negotiate with Asset Recovery Solutions to settle your debt for less and knock off some of the interest amount. Be open about your abilities to pay, and use Solo to document and streamline the settlement process.

Getting contacted by a debt collector such as Asset Recovery Solutions can be upsetting and stressful. Do not fret. You have legal rights and options to resolve your debt issue. For example, you could engage with Asset Recovery Solutions and negotiate a debt settlement.

Settle debt with Asset Recovery Solutions

You can negotiate debt settlement at any stage of the collections process. SoloSettle makes it easy.

Settle with SoloSettle

What is Asset Recovery Solutions?

Asset Recovery Solutions, LLC is a legitimate debt purchaser and debt collection agency that’s been in business since 2009. Asset Recovery Solutions has its base of operations in Illinois and maintains an A+ rating with the Better Business Bureau.

Below is the contact information for Asset Recovery Solutions.

  • Phone: (847) 257-8300
  • Address: 2200 E Devon Avenue, Ste 200, Des Plaines, IL 60018-4501
  • Website: https://assetrecoverysolutions.com/

Who does Asset Recovery Solutions collect for?

Asset Recovery Solutions, LLC is a debt buyer and debt collection agency. This means Asset Recovery Solutions actively purchases delinquent and discharged accounts from companies while also collecting on behalf of companies, including large credit card companies. Asset Recovery Solutions is known to collect debts for some of the largest credit issuers in the United States. Asset Recovery Solutions also collects on delinquent personal loans, automobile loans, and past due tax bills.

Read Asset Recovery Solutions reviews online

If you are interested to learn what other people have said about their experience with Asset Recovery Solutions on a debt collection matter, then take a moment to read these reviews:

While online reviews for Asset Recovery Solutions are pretty mixed, there are some reviews that indicate consumers can have a pleasant experience communicating with Asset Recovery Solutions to resolve debt. Let’s consider a real example from a borrower named D. Mays:

“After 5 years of payments the automatic drafts stopped, I was about to call them and ask why, then I received a call from Robert today who was courteous, helpful and easy to work with. Cannot speak more highly of this firm. While no one likes dealing with defaulted student loans, I found myself in this position. Navient was less than helpful in getting the matter resolved, so my account was transferred to this company for collections. They worked with Navient/Sallie Mae to get a payment schedule I could live with and an interest rate which was more than agreeable. I have been paying on the loans for 3 years now, and the balance has finally started to come down.”

This review shows that debt collectors with Asset Recovery Solutions are open to working with you to resolve your concerns and get your debt paid in a manner that works for you and your current financial situation. Communication is the key.

If calling a debt collector to negotiate doesn’t sound like your idea of fun, try using SoloSettle to negotiate online and resolve your debt through the digital settlement platform.

Engage with Asset Recovery Solutions to Negotiate a Debt Settlement

Here are some recommended steps to try and settle your debt with Asset Recovery Solutions:

  1. File an Answer to the debt collection lawsuit so you don’t get hit with a default judgment.
  2. Determine how much you can actually afford to pay with the following formula: Amount available to settle = (monthly income – monthly costs) + savings)
  3. Make a reasonable settlement offer that is less than the maximum amount you can pay.
  4. Be ready to go through multiple rounds of negotiating.
  5. When you reach a debt settlement agreement, get the terms in writing.

To learn more about these tips and others that may assist you on your journey to settle debt with Asset Recovery Solutions, watch the following interview with a consumer rights attorney, John Skiba, where he shares the best tips for negotiating debt settlement with collectors:

Know your rights when Asset Recovery Solutions contacts you for debt repayment

You have rights under the Fair Debt Collection Practices Act (FDCPA). The FDCPA lays out rules and regulations that state what debt collectors can and cannot do. Some of the restrictions on companies such as Asset Recovery Solutions include:

  • Asset Recovery Solutions is not allowed to call or contact you at work.
  • Asset Recovery Solutions is not allowed to use vulgar language when contacting you by phone, email, text, or mail.
  • Asset Recovery Solutions' collectors cannot make threats about a lawsuit.
  • Asset Recovery Solutions cannot try to call you at your house before 8 AM or after 9 PM.

Many consumers are unaware of the rules that debt collectors must follow. Debt collectors know most people are ignorant of the provisions of the FDCPA. But once you know the rights that you have, you have a better chance of beating any lawsuit filed against you.

File a response to debt collection lawsuits fast with SoloSuit.

What To Do If You are Sued

If you get sued by Asset Recovery Solutions, it's vital to respond. Do not ignore the lawsuit and hope it disappears. It will not go away. If you do not respond, you are giving up and Asset Recovery Solutions will likely pursue a default judgment against you.

Instead of ignoring the lawsuit, here are things that you can do in your Answer:

  • Remember that Asset Recovery Solutions must prove that you are the one who owes the debt.
  • File an Answer with your local Clerk of Court in the proper time frame. Usually, you need to respond within 20 or 30 days.
  • Mail your Answer that the Clerk of Court stamped to Asset Recovery Solutions.

Possible Defenses to Utilize In Your Answer

When you give an Answer to the debt collection lawsuit, you have the chance to point out any deficiencies with the allegations in the suit. Also, remember that debt collectors must prove that you owe them money they claim in the complaint. This means Asset Recovery Solutions must show the following things before you are proven to owe the debt:

  • Asset Recovery Solutions has the right to sue you.
  • You are the person who owes the debt.
  • You owe the exact amount alleged in the complaint.

If Asset Recovery Solutions cannot prove the above, there is a high probability you could prevail in court.

Depending on your case, you could say that Asset Recovery Solutions was unable to file the suit within the statute of limitations. The statute of limitations is the time limit a person or entity has to file suit against someone else.

If the facts of your case show that Asset Recovery Solutions sued you and the statute of limitations expired, you may file a legal motion to have the suit dismissed with prejudice.

iIf you possess evidence that a debt collector is in violation of the FDCPA, then you could consider filing a countersuit. If you have proof, you may be eligible for compensatory damages and to have your legal fees paid.

Use SoloSuit to make the right affirmative defenses and win in court.

What to Do If Asset Recovery Solutions Takes You to Court

Here's a summary of what to do if you have a debt collection lawsuit filed against you:

  • Write down details of any phone calls from the debt collector before 8 AM or after 9 PM. Also, note if the debt collector contacts you at work or uses offensive language.
  • Be sure to file an answer within the timeframe the Court gives you.
  • In the Answer, think about raising one or more affirmative defenses, such as the statute of limitations. You also should insist that Asset Recovery Solutions gives you the proof of the amount owed and that you are the one who is legally responsible for the debt.
  • Consider filing a counterclaim if the debt collector violated the FDCPA.

Settle with SoloSettle

Make an Offer

How to Answer a Summons for debt collection in all 50 states

Here's a list of guides on how to respond to a debt collection lawsuit in each state:

The Ultimate 50 State Guide

Guides on how to resolve debt with every debt collector

Are you being sued by a debt collector? We’re making guides on how to resolve debt with each one.

Resolve your debt with your creditor

Some creditors, banks, and lenders have an internal collections department. If they come after you for a debt, Solosuit can still help you respond and resolve the debt. Here’s a list of guides on how to resolve debt with different creditors.

Settle your medical debt

Having a health challenge is stressful, but dealing medical debt on top of it is overwhelming. Here are some resources on how to manage medical debt.

Guides on arbitration

If the thought of going to court stresses you out, you’re not alone. Many Americans who are sued for credit card debt utilize a Motion to Compel Arbitration to push their case out of court and into arbitration.

Below are some resources on how to use an arbitration clause to your advantage and win a debt lawsuit.

Stop calls from debt collectors

Do you keep getting calls from an unknown number, only to realize that it’s a debt collector on the other line? If you’ve been called by any of the following numbers, chances are you have collectors coming after you, and we’ll tell you how to stop them.

Federal debt collection laws can protect you

Knowing your rights makes it easier to stand up for your rights. Below, we’ve compiled all our articles on federal debt collection laws that protect you from unfair practices.

Get debt relief in your state

We’ve created a specialized guide on how to find debt relief in all 50 states, complete with steps to take to find relief, state-specific resources, and more.

Debt collection laws in all 50 states

Debt collection laws vary by state, so we have compiled a guide to each state’s debt collection laws to make it easier for you to stand up for your rights—no matter where you live.

Statute of limitations on debt state guides

Like all debt collection laws, the statute of limitations on debt varies by state. So, we wrote a guide on each state’s statutes. Check it out below.

Statute of Limitations on Debt Collection by State (Best Guide)

Check the status of your court case

Don’t have time to go to your local courthouse to check the status of your case? We’ve created a guide on how to check the status of your case in every state, complete with online search tools and court directories.

How to stop wage garnishment in your state

Forgot to respond to your debt lawsuit? The judge may have ordered a default judgment against you, and with a default judgment, debt collectors can garnish your wages. Here are our guides on how to stop wage garnishment in all 50 states.

Other wage garnishment resources

How to settle a debt in your state

Debt settlement is one of the most effective ways to resolve a debt and save money. We’ve created a guide on how to settle your debt in all 50 states. Find out how to settle in your state with a simple click and explore other debt settlement resources below.

How to settle with every debt collector

Not sure how to negotiate a debt settlement with a debt collector? We are creating guides to help you know how to start the settlement conversation and increase your chances of coming to an agreement with every debt collector.

Other debt settlement resources

Personal loan and debt relief reviews

We give a factual review of the following debt consolidation, debt settlement, and loan organizations and companies to help you make an informed decision before you take on a debt.

How to repair and improve your credit score

Debt has a big impact on your credit. Below is a list of guides on how to repair and improve your credit, even while managing major debt.

How to resolve student loan debt

Struggling with student debt? SoloSuit’s got you covered. Below are resources on handling student loan debt.

Civil law legal definitions

You can represent yourself in court. Save yourself the time and cost of finding an attorney, and use the following resources to understand legal definitions better and how they may apply to your case.

Get answers to these FAQs on debt collection

How-to debt guides

Learn more with these additional debt resources

Contents