New York, NY (PRWEB) October 25, 2012
On October 25, 2012, collection agency Rapid Recovery Solution responds to an article published by Business Insider regarding issues with medical debt.
According to Business Insider, “As tens of millions of Americans are paying off medical bills over time, the potential for damaged credit is great. Many government agencies are beginning to take notice of this problem.” The article refers to issues concerning the “improper billing of Medicare for more complex and costly services than delivered” which was discovered after inspecting electronic health records. After revealing that some people were billed for medical services that they never received, the article questions if these unwarranted bills affected credit reports. Business Insider reports that the Consumer Financial Protection Bureau (CFPB) began an investigation on the problems with medical collection earlier this summer, which may offer solace for those in medical debt.
However, according to John Monderine, CEO of collection agency Rapid Recovery Solution, “If you receive a good or a service and do not pay for it, your potential creditors should know about it. Trying to take that away will only tighten the credit market for the people who do pay their bills.”
Mark Rukavina, author of the article, states that the Subcommittee on Financial Institutions and Consumer Credit of the U.S. House of Representatives Committee on Financial Services recently held a hearing in which medical debt was a main topic. The article reports, “While witnesses acknowledged the prevalence of errors in medical billing, only one felt that it would be inappropriate to correct these errors by suppressing them from credit reports once fully paid or settled.”
Founded in 2006, RRS Collection Agency is headquartered at the highest point of amazing Long Island. Rapid Recovery Collections Company is committed to collecting 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.