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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 G0o4ERpPpsudKNpfJCMHK6hRV+g5nkWTe9vhETivAYOIVsghtkGHEtkX7lqJquHC
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<SEC-DOCUMENT>0001466196-09-000001.txt : 20090615
<SEC-HEADER>0001466196-09-000001.hdr.sgml : 20090615
<ACCEPTANCE-DATETIME>20090615162911
ACCESSION NUMBER:		0001466196-09-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(1)
FILED AS OF DATE:		20090615
DATE AS OF CHANGE:		20090615
EFFECTIVENESS DATE:		20090615

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			United States Debt Recovery III, L.P.
		CENTRAL INDEX KEY:			0001466196
		IRS NUMBER:				264786311
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-131984
		FILM NUMBER:		09892215

	BUSINESS ADDRESS:	
		STREET 1:		940 SOUTHWOOD BLVD., SUITE 101
		CITY:			INCLINE VILLAGE
		STATE:			NV
		ZIP:			89451
		BUSINESS PHONE:		775-832-5250

	MAIL ADDRESS:	
		STREET 1:		940 SOUTHWOOD BLVD., SUITE 101
		CITY:			INCLINE VILLAGE
		STATE:			NV
		ZIP:			89451
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0401</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001466196</cik>
        <entityName>United States Debt Recovery III, L.P.</entityName>
        <issuerAddress>
            <street1>940 SOUTHWOOD BLVD., SUITE 101</street1>
            <street2></street2>
            <city>INCLINE VILLAGE</city>
            <stateOrCountry>NV</stateOrCountry>
            <zipCode>89451</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>775-832-5250</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Nathan</firstName>
                <middleName></middleName>
                <lastName>Jones</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>940 Southwood Blvd., Suite 101</street1>
                <street2></street2>
                <city>Incline Village</city>
                <stateOrCountry>NV</stateOrCountry>
                <zipCode>89451</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Member of WJ Investments LLC, its General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Wendy</firstName>
                <middleName></middleName>
                <lastName>Mueller</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>940 Southwood Blvd., Suite 101</street1>
                <street2></street2>
                <city>Incline Village</city>
                <stateOrCountry>NV</stateOrCountry>
                <zipCode>89451</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Member of WJ Investments LLC, its General Partner</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-06-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Laura Roden</recipientName>
                <recipientCRDNumber>5319694</recipientCRDNumber>
                <associatedBDName>Viant Capital LLC</associatedBDName>
                <associatedBDCRDNumber>46948</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>500 Washington Street, Suite 325</street1>
                    <street2></street2>
                    <city>San Francisco</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <zipCode>94111</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <state>NY</state>
                    <state>WA</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Jonathan Gregory Tull</recipientName>
                <recipientCRDNumber>2636434</recipientCRDNumber>
                <associatedBDName>Viant Capital LLC</associatedBDName>
                <associatedBDCRDNumber>46948</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>500 Washington Street, Suite 325</street1>
                    <street2></street2>
                    <city>San Francisco</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <zipCode>94111</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <state>NY</state>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>50000000</totalOfferingAmount>
            <totalAmountSold>717100</totalAmountSold>
            <totalRemaining>49282900</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>8</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>1500000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>Estimate of placement agent fees to be paid for total offering amount. The fees are paid by a combination of a $5,000 monthly retainer, against which a 3% commission on actual sales is credited.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>1250000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Estimate of 12 months' management fee to be paid to WJ Investments LLC, assuming the net asset value of the Issuer equals the total offering amount. The persons listed in response to Item 3. are Managing Members of WJ Investments LLC.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>United States Debt Recovery III, L.P.</issuerName>
                <signatureName>Wendy Mueller</signatureName>
                <nameOfSigner>Wendy Mueller</nameOfSigner>
                <signatureTitle>Managing Member of WJ Investments LLC, its General Partner</signatureTitle>
                <signatureDate>2009-06-11</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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