New York, NY (PRWEB) November 03, 2012
On November 3, 2012, debt collection company Rapid Recovery Solution released a statement following an AZ Central article on the difference between assigning and selling debt to a collection agency.
According to the AZ Central article, “Assigning a debt means handing the debt over to a collection agency to collect on your behalf.” The article mentions that the benefit of assigning a debt to a collection agency is the fact that the agency will only keep a small portion of the debt owed, if successfully collected.
According to the article, “Selling a debt to a debt buying company is often a last resort, used when other collection attempts have failed or when the statute of limitations on the debt is approaching or has passed.” The article states that a collection agency will charge a percentage of the amount of debt owed to you, that they successfully collect.
CEO of debt collection company Rapid Recovery Solution, John Monderine mentions that choosing one of these methods could be a tricky decision. “Both of these options should be considered as part of an overall collection strategy. If you need help deciding what to do, contact a rep at Rapid Recovery Solution,” says Monderine.
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 don't 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.