DOB: Rent Recovery Solutions - CO

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IN THE MATTER OF:

RENT RECOVERY SOLUTIONS LLC
NMLS # 1577947

       ("Rent Recovery Solutions")
   
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CONSENT ORDER        

WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part XII of Chapter 669, Sections 36a-800 to 36a-814, inclusive, of the Connecticut General Statutes, “Consumer Collection Agencies”, and the regulations promulgated thereunder, Sections 36a-809-6 to 36a-809-17, inclusive, of the Regulations of Connecticut State Agencies (“Regulations”);
 
WHEREAS, Rent Recovery Solutions is a Georgia limited liability corporation with an office located at 1945 The Exchange SE, Suite 120, Atlanta, Georgia;
 
WHEREAS, Rent Recovery Solutions is not currently licensed to act as a consumer collection agency in Connecticut;
 
WHEREAS, the Commissioner, through the Consumer Credit Division (“Division”) of the Department of Banking, as the result of a debtor complaint, conducted an investigation pursuant to Section 36a-17 of the Connecticut General Statutes into the activities of Rent Recovery Solutions to determine if it had violated, was violating or was about to violate the provisions of the Connecticut General Statutes and Regulations within the jurisdiction of the Commissioner;
 
WHEREAS, as a result of the investigation, the Commissioner alleges that Rent Recovery Solutions has acted within this state as a consumer collection agency without the requisite license, in violation of Section 36a-801(a) of the Connecticut General Statutes;
 
WHEREAS, the Commissioner believes that such allegation would support the initiation of administrative proceedings against Rent Recovery Solutions, including, without limitation, proceedings to issue a cease and desist order pursuant to Sections 36a-804(b) and 36a-52(a) of the Connecticut General Statutes, and impose a civil penalty pursuant to Sections 36a-804(b) and 36a-50(a) of the Connecticut General Statutes;
 
WHEREAS, initiation of such proceedings would constitute a “contested case” within the meaning of Section 4-166(4) of the Connecticut General Statutes;
 
WHEREAS, Section 4-177(c) of the Connecticut General Statutes and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by consent order, unless precluded by law;
 
WHEREAS, on March 21, 2017, Rent Recovery Solutions filed an application for a consumer collection agency license with the Commissioner (“Application”) through the Nationwide Multistate Licensing System and Registry (“NMLS”);
 
WHEREAS, both the Commissioner and Rent Recovery Solutions acknowledge the possible consequences of formal administrative proceedings, and Rent Recovery Solutions voluntarily agrees to consent to the entry of the sanctions imposed below solely for the purpose of obviating the need for formal administrative proceedings concerning the allegation set forth herein;
 
WHEREAS, Rent Recovery Solutions acknowledges that this Consent Order is a matter of public record and is a reportable event for purposes of NMLS, as applicable;
 
AND WHEREAS, Rent Recovery Solutions, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to notice and an opportunity for a hearing as it pertains to the allegation set forth herein, and voluntarily waives its right to seek judicial review or otherwise challenge or contest the validity of this Consent Order.


CONSENT TO ENTRY OF SANCTIONS

WHEREAS, Rent Recovery Solutions, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanctions:
 
1. No later than the date this Consent Order is executed by Rent Recovery Solutions, it shall remit to the Department of Banking by wire transfer, cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut”, the sum of Ten Thousand Dollars ($10,000) as a civil penalty; and
2.
Rent Recovery Solutions shall immediately cease and desist from acting as a consumer collection agency in Connecticut without a license, in violation of Section 36a-801(a) of the Connecticut General Statutes.
 

CONSENT ORDER

NOW THEREFORE, the Commissioner enters the following:

1. The sanctions set forth above be and are hereby entered;
2. Upon issuance of this Consent Order by the Commissioner, this matter will be resolved and the Commissioner will not take any future enforcement action against Rent Recovery Solutions based upon the allegation contained herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Rent Recovery Solutions based upon a violation of this Consent Order or the matters underlying its entry, if the Commissioner determines that compliance with the terms herein is not being observed or if any representation made by Rent Recovery Solutions and reflected herein is subsequently discovered to be untrue.  Nothing in this Consent Order shall be construed as limiting the Commissioner’s ability to take enforcement action against Rent Recovery Solutions based upon:  (a) evidence of which the Division was unware on the date hereof relating to a violation of Part XII of Chapter 669, Sections 36a-800 to 36a-814, inclusive, of the Connecticut General Statutes or any statute or regulation under the jurisdiction of the Commissioner, or (b) evidence indicating that Rent Recovery Solutions withheld information from, or made any misstatement or omission to, the Commissioner in connection with this matter;
3. Subject to the foregoing, and so long as this Consent Order is promptly disclosed by Rent Recovery Solutions and its control persons on NMLS, as applicable, nothing in the issuance of this Consent Order shall adversely affect the ability of Rent Recovery Solutions to apply for or obtain licenses or renewal licenses under Part XII of Chapter 669, Sections 36a-800 to 36a-814, inclusive, of the Connecticut General Statutes, provided that all legal requirements for such license are satisfied; and
4.
This Consent Order shall become final when issued.
 


Issued at Hartford, Connecticut
this 5th day of July 2017.                     ______/s/__________
                                                       Jorge L. Perez
                                                       Banking Commissioner

 

I, Collete Peta, state on behalf of Rent Recovery Solutions LLC, that I have read the foregoing Consent Order; that I know and fully understand its contents; that I am authorized to execute this Consent Order on behalf of Rent Recovery Solutions LLC; that Rent Recovery Solutions LLC, agrees freely and without threat or coercion of any kind to comply with the sanctions entered herein; and that Rent Recovery Solutions LLC, voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.

                                                 By: ________/s/___________
                                                       Name:  Collete Peta, Member
                                                       Title:  Member
                                                       Rent Recovery Solutions LLC


State of:  Georgia

County of:  Cobb

On this the 30th day of June 2017, before me, Garrett Pertain, the undersigned officer, personally appeared Collete Peta who acknowledged himself/herself to be the Member of Rent Recovery Solutions LLC, a member managed/manager managed limited liability company, and that he/she as such Member, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the limited liability company by himself/herself as Member.

In witness whereof I hereunto set my hand.


                                                     __________/s/___________
                                                     Notary Public:  
                                                     Date Commission Expires:  Jan 17, 2021

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