Elliot Schwartz was appointed to Arbor Realty Trust’s Board of Directors in June 2018 and serves as a member of the Corporate Governance Committee.
Mr. Schwartz is the Co-Founder, Chief Executive Officer and General Counsel of Debt Recovery Solutions, LLC, a national accounts receivable management agency. Founded in 2002, the organization purchases and manages distressed consumer receivables in the financial, education, telecommunication and medical sectors. Mr. Schwartz manages all aspects of the company’s operation as well as its compliance with City, State and Federal rules and regulations that govern the industry, including the following: The Federal Fair Debt Collection Practices Act, The Fair Credit Reporting Act, Telephone Consumer Practices Act, Graham Leach Bliley Act, as well as the mandates imposed by the Consumer Financial Protection Bureau.
Prior to founding Debt Recovery Solutions, LLC, Mr. Schwartz served as Senior Vice President, General Counsel and Principal at Coldata, Inc., for more than a decade. The debt management company provided accounts receivable management services to various financial institutions as well as City, State and Federal governmental agencies throughout the United States. After Coldata was sold in 1999, Mr. Schwartz continued his responsibilities under the acquisition until 2002.
Mr. Schwartz is a member of the Nassau County Bar Association, New York State Bar Association, Receivables Management Association and the American Collectors Association. He earned a Bachelor of Arts from Brandeis University and a Juris Doctor from Hofstra University, Maurice A. Deane School of Law.