Bohemia, NY (PRWEB) October 16, 2012
On October 16, collection agency Rapid Recovery Solution comments on an article published by The Columbus Dispatch regarding issues with the system of solving debt disputes.
According to The Columbus Dispatch, “Debt collectors also are not required to produce original contracts or other conclusive evidence to prove an account is delinquent to secure a judgment in Ohio and several other states.” The article explains that court ordered judgments can be financially damaging to consumers. In addition, in 2009 the Federal Trade Commission received numerous complaints from consumers with credit report problems citing issues with court records. “They had judgments that did not belong to them, had been paid or had been dismissed by a judge. Correcting those errors is a burdensome process that largely is blind to consumers’ proof because of an automated credit-reporting system,” The Columbus Dispatch reports. In addition to consumer complaints, the article reveals that many debt collectors are unhappy with this system as well. The article states, “The current system is so convoluted and unfair that the industry itself is calling for change.”
The article states that problems with the system affect debt collectors because some court-ordered judgments may contain inaccurate information. According to John Monderine, CEO for collection agency Rapid Recovery Solution, “Enough is enough. Make clear rules for everybody to follow and this will be a better system for everybody.”
The Columbus Dispatch explains that in 2010 the Federal Trade Commission attempted to improve debt-collection lawsuits by encouraging local courts to obtain more information. According to the article, “Too many lawsuits were based on insufficient evidence and too many ended with default judgments because the consumer did not appear in court.”
Founded in 2006, Rapid Recovery Solution, Inc. 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.