Collection Company, Rapid Recovery Solutions, Releases a Statement Regarding an Increase in Debtors

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According to the National Debt Mediation Association (NDMA) the number of consumers falling behind on their payment has risen drastically. This rise in debtors is a direct result of the high unemployment rate and an increase in inflation.

On October 14, 2012, debt collection company, Rapid Recovery Solutions, released a statement in response to increased number of debtors.

According to The Citizen, due to the high unemployment and inflation rate, an increasing number of customers are unable to pay off their debt. National Credit Regulator (NCR) reported “figures for the June quarter showed an increase in the number of consumers with impaired records -- by 170,000 to 9.22 million -- from 9.05 million in the previous quarter.”

The article goes on to say; just about half of the 19.6 million credit active customers are behind on payments. Off the nearly 50 percent, 14.2 percent have administrative orders against them.

Mangauta Mphahlele, CEO of NDMA encouraged customers to stay on top of their payments and advised them to contact their creditors as soon as they fall behind on payments in order to avoid dealing with a collection company or other legal action against them.

John Monderine, President/CEO at Rapid Recovery Solutions, a debt collection agency responded to the article by stating “The current state of the economy and its effect on the people is unfortunate. It’s an ugly situation so people need to spend with in their limits and stay on top of their payments.”

Founded in 2006, RRS Collection Agency is headquartered at the highest point of beautiful Long Island. Rapid Recovery Collection Agency is committed to recovering your funds. We believe that every debtor has the ability to pay if motivated correctly. We do not alienate the debtors; we attempt to align with them and offer a number of ways to resolve not only your debt but also all their debts.

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