Debt Resolve Moves Forward with Creditors Interchange Acquisition

    Receives Acceptable Debt Term Sheets and Extension of the Closing Date

    WHITE PLAINS, N.Y., August 9 /CNW/ - Debt Resolve, Inc. (AMEX:   DRV),
announced today that the Company has filed an 8-K with the Securities and
Exchange Commission to discuss the current state of the company's financing
with respect to the pending acquisition of Creditors Interchange (Credint
Holdings Inc.). The filing discloses that the Company has entered into an
agreement with Creditors Interchange (Credint Holdings Inc.) to extend the
closing date of the transaction to August 31, 2007, and that the Company has
secured acceptable term sheets for up to $40 million in debt financing,
including $25 million in senior debt and $15 million in mezzanine debt, which
does not include an equity component.

    The Company expects the acquisition to close by August 31, 2007, subject
to, among other things, shareholder approval of the acquisition and securing
satisfactory financing relating to the acquisition. The Company is presently
negotiating with various institutional accredited investors and awaiting term
sheets for the equity portion of the financing. The Company anticipates that
the term sheets will be received in sufficient time and on acceptable terms in
order to close the transaction by August 31, 2007.

    About Debt Resolve, Inc.

    Debt Resolve provides lenders, collection agencies, debt buyers and
utilities with a patented online bidding system for the resolution and
settlement of consumer debt and a collections and skip tracing solution that
is effective at every stage of collection and recovery. Through its
subsidiary, DRV Capital, LLC, the company is actively engaged in the purchase
and collections of distressed accounts receivable using its own collections
solutions. Through its subsidiary, First Performance Corp., the company is
actively engaged in operating a collection agency for the benefit of its
clients, which include banks, finance companies and purchasers of distressed
accounts receivable. The stock of Debt Resolve is traded on the American Stock
Exchange. Debt Resolve is headquartered in White Plains, New York. For more
information, please visit our website at

    Forward-Looking Statements and Disclaimer

    Certain statements in this press release and elsewhere by management of
the company that are neither reported financial results nor other historical
information are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such information includes, without
limitation, the business outlook, assessment of market conditions, anticipated
financial and operating results, strategies, future plans, contingencies and
contemplated transactions of the company. Such forward-looking statements are
not guarantees of future performance and are subject to known and unknown
risks, uncertainties and other factors which may cause or contribute to actual
results of the company's operations, or the performance or achievements of the
company, or industry results, to differ materially from those expressed or
implied by the forward-looking statements. In addition to any such risks,
uncertainties and other factors discussed elsewhere in this press release,
risks, uncertainties and other factors that could cause or contribute to
actual results differing materially from those expressed or implied by the
forward-looking statements include, but are not limited to, events or
circumstances which affect the ability of Debt Resolve to realize improvements
in operating earnings expected from the acquisition of First Performance and
the contemplated acquisition of Creditors Interchange; competitive pricing for
the company's products and services; fluctuations in demand for the company's
products or services; changes to economic growth in the United States and
international economies; government policies and regulations, including, but
not limited to those affecting the collection of consumer debt; adverse
results in current or future litigation; currency movements; and other risk
factors discussed in the company's Annual Report on Form 10-KSB for the year
ended December 31, 2006, and in other filings made from time to time with the
SEC. Debt Resolve undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information, future
events or otherwise. Investors are advised, however, to consult any further
disclosures made on related subjects in the company's reports filed with the

For further information:

For further information: Debt Resolve, Inc. Ehmonie Hainey, 914-949-5500
x228 or BPC Financial Marketing John Baldissera,

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