Schwartz owned Debt Recovery Solutions, LLC in New York.
02/14/2023 12:30 P.M.
1 minute read
Ruvin Schwartz, who owned ACA International member company Debt Recovery Solutions, LLC (DRS) in Syosset, New York, died peacefully on Jan. 28, 2023, at the age of 91. He is survived by his two sons, four grandchildren and six great grandchildren.
Schwartz had been active in the accounts receivable management industry for more than 60 years. He opened his first company, Coldata, initially known as Central Adjustment Bureau, in Valley Stream, N.Y., in 1961. Coldata serviced debt portfolios for many of the major banks, credit unions, and city and state governments.
In 1980, Schwartz began working with TransUnion to create a state-of-the-art scoring model later called QUEST. After selling Coldata in the late 1990s, Schwartz founded DRS with his sons, Elliot and Donald Schwartz.
Today, DRS is a third generation, family-owned consumer debt collection agency headquartered in Syosset, New York. Ruvin’s guidance and wisdom has been passed on to his grandsons Matthew and Zachary, who help manage DRS with their fathers, Elliot and Donald. Since its founding, DRS has processed claims totaling over $10 billion. Their client base includes telecommunications, health care, auto, student and consumer loans, and credit card portfolios.
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