Debt Resolve, Inc. provides an Internet-based bidding system for the collection of past due consumer debt to banks, lenders, credit card issuers, third party collection agencies and collection law firms, and purchasers of charged-off debt primarily in the United States. The company offers DebtResolve system, which enables its creditor clients to settle and collect defaulted consumer debts via the Internet, as an application service provider. Its DebtResolve system consists of a suite of modules that include DR Settle, which allows debtors to make offers or bids, what they can pay against their total overdue balances; DR Pay for online payments; DR Control for system administration; DR Mail, an email methodology; and DR Prevent for the settlement of consumer debt at earlier stages. The company also provides its services to auto loan grantors, telecoms, utilities, as well as to hospitals and large provider groups. It was formerly known as Lombardia Acquisition Corp. and changed its name to Debt Resolve, Inc. in May 2003. The company was founded in 1997 and is headquartered in Tarrytown, New York.