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Debt Resolve Provides an Update to Shareholders on New Corporate Activities

WHITE PLAINS, NY / ACCESSWIRE / March 22, 2016 / We are pleased to provide an update on many of the recent exciting changes that have been happening at Debt Resolve, Inc. (OTC Pink: DRSV). The last year has seen tremendous progress in the execution of our new business strategy, as detailed in our recent quarterly filings. As a reminder, we set out to focus on (a) creating joint venture opportunities with privately held companies that can enhance both their own and our financial performance by taking advantage of our technology, management skill-set or public company structure and (b) expanding our core SaaS enterprise technology into a family of products and applications that provide value to specific industry segments, corporations large and small as well as to individuals seeking to negotiate and settle outstanding financial liabilities.

PROGRESS ADVOCATES LLC

The first year of Progress Advocates LLC (www.progressadvocates.com), our joint venture in the Federal student loan document preparation business, has been a learning experience for both partners and has resulted in a review of our business model which is now being enhanced for efficiency and future profitability. We faced a seasonal slowdown in business in Q4 2015 and, as a result of offering clients an option to finance our fee, we incurred a higher than anticipated delinquency rate from the lower credit rated consumers in our client base which resulted in a significant slowdown in Progress Advocates' business. Consequently, we have cut back our level of operations while we revamp the business model which is now underway. We intend to begin ramping up operations again on a slower but more profitable trajectory than last year.

SETTLIT LTD

We have signed an agreement and have begun laying the groundwork to launch our second joint venture, a majority owned joint venture in the United Kingdom under the name Settlit Ltd., which will offer the Debt Resolve suite of Settl.it solutions to a broad range of clients. Our U.K. joint venture partner will begin sales and marketing activities in the near future with technical support initially coming from Debt Resolve in the USA.

PAYMENT RESOLUTION SYSTEMS LLC

We have just launched our third joint venture, Payment Resolution Systems LLC (www.paymentresolutionsystems.com), a company that utilizes our core Settl.it Enterprise technology as part of a suite of services focused initially on assisting physician and other medical groups to collect their most seriously delinquent receivables. Testing with our first client is underway and we anticipate that the service will quickly expand to a number of clients in the pipeline. We believe this business has the potential to add several million dollars a year to our revenue stream if it is adopted as widely as expected.

EQUISETTLE

We have signed an agreement with Equisettle, LLC, which is a mediation firm based in Grand Rapids, Minnesota. Equisettle will utilize a private branded version of our Settl.it peer-to-peer financial dispute negotiation and settlement application as an important element in their online mediation service together with their first-in-the-nation online face to face arbitration option.

Settl.it itself is up and running (www.settl.it) but no major marketing resources have been applied to it as we continue to refine the product. We believe a major potential application for Settl.it is a tool for State Small Claims Court Systems to help ease their backlogs and simplify the negotiation and actual payment under settlement agreements. We have begun to investigate the opportunities with several State Small Claims Courts Systems.

In addition to these recently concluded agreements and joint ventures, we are working on several other, potentially significant initiatives which we will announce as they come to fruition over the coming months. While the company continues to face a number of challenges, we have made great progress in the past year on multiple fronts and are poised to continue on our path to growth and profitability. It is our intention to file our 2015 form 10-K on time by the end of this month. We appreciate the support of all of our stakeholders as we work hard to continue enhancing shareholder value.

About Debt Resolve, Inc. (www.debtresolve.com)

Debt Resolve, through its Settl.it family of products (www.settl.com), provides original creditors as well as third party collectors with a patent-protected cloud based online bidding system for the negotiation and settlement of consumer debt, and solutions effective at every stage of collection and recovery. Debt Resolve's majority owned joint venture, Progress Advocates LLC, provides document preparation services for federal student loan modification and consolidation. The company is publicly held, trading on the OTC Markets under the symbol DRSV and is headquartered in White Plains, New York.

Forward-Looking Statements

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 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 varying significantly and materially from anticipated results. Debt Resolve undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by SEC rules. Investors are advised to consult any further disclosures made on related subjects in the Company's reports filed with the SEC.

Investor Relations:

Rene Samson
Debt Resolve, Inc.
rsamson@debtresolve.com
(914) 949-5500 x218

SOURCE: Debt Resolve, Inc.

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