UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 27, 2018

 

DEBT RESOLVE, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

001-33110

 

33-0889197

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

22 Saw Mill River Road, 2 nd Floor

Hawthorne, New York

 

10532

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (914) 949-5500

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 
 
 
 

CURRENT REPORT ON FORM 8-K

 

Debt Resolve, Inc. (the “Company”)

 

September 27, 2018

 

Item 8.01 – Other Events.

 

On September 24, the Company was served with notification of civil litigation having been filed on September 20, 2018 by the New York State Attorney General, Barbara D. Underwood. The Company, previously, received a letter, dated August 16, 2018, from the New York State Attorney General, Bureau of Consumer Frauds & Protection, notifying the Company that the Attorney General intends to commence litigation against it for various allegedly fraudulent, deceptive and unlawful acts and practices of its subsidiaries under New York and U.S. federal law and regulations relating to the marketing, sale and financing of debt-relief services.

 

While the Company is still reviewing the filing, we don’t believe there has been any wrongdoing by Debt Resolve, Inc. nor its majority owned subsidiaries, Student Loan Care LLC and Progress Advocates LLC. The Company intends to vigorously defend itself against the allegations contained in the Attorney General’s lawsuit. However, we are open to working in good faith with the office of the New York State Attorney General in the hopes of reaching an amicable and expeditious resolution.”

 

The Company is unable to predict the outcome of any litigation and, if the Company is not successful in its defense, such charges could materially and adversely affect the Company.

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

DEBT RESOLVE, INC.

       

Date: September 27, 2018

By: /s/ Bruce E. Bellmare

 

 

Bruce E. Bellmare  
    Chief Executive Officer  
    and Acting Chief Financial Officer  

 

 

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