Collection Company Rapid Recovery Solution Released a Statement Regarding a Loan Agency Turning to Debt Collection to Collect Owed Loans

Following a Tribe Live News article on a loan agency using debt collection to collect student debts, Rapid Recovery Solution releases a statement.

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New York, NY (PRWEB) November 10, 2012

On November 10, 2012, collection company Rapid Recovery Solution released a statement regarding a Tribe Live News article by Debra Erdley on a Pennsylvania loan agency turning to debt collection to collect overdue student loan payments.

According to the Tribe Live News article, “A state agency created to extend loans for education found a more lucrative line of business: going after deadbeat student borrowers.” The article states that Pennsylvania Higher Education Assistance Agency (PHEAA), is under scrutiny for turning to debt collection tactics in trying to collect millions of dollars from deadbeat borrowers. According to the article, “PHEAA’s debt collecting business is growing faster than its loan servicing.”

The article states that the rapid increase in debt collecting is becoming controversial in that people are upset with the constant phone calls and attempts to collect by PHEAA despite people struggling. According to State Sen. Wayne Fontana, “We had to be able to survive. We wanted to be able to keep serving Pennsylvania students with grants and loans. They created a new mission, and that mission is starting to take hold.”

John Monderine, CEO of collection company Rapid Recovery Solution understands the important of collecting debts that are past due and owed to a company. "The fact that people get so outraged because a company wants to be repaid the money they lent out is amazing to me. Do not borrow what you can't pay back."

Established in 2006, Rapid Recoverys Solution is located 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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