Collection Agency Rapid Recovery Solution Responds to “Rolling Jubilee”, A Concept that May Benefit Those in Debt

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The CEO of Rapid Recovery Solution responds to an article published by The Huffington Post concerning the benefits of the unique new “Rolling Jubilee” idea.

On November 23, a representative of Rapid Recovery Solution responds to an article published by The Huffington Post which further explains the unique new concept of the “Rolling Jubilee.”

According to the article, “Rolling Jubilee” may revolutionarily transform the idea of debt collection, removing it from the idea of harassing phone calls and letters and creating a more beneficial concept. The article explains that “Rolling Jubilee” proposes for debt to be purchased for “pennies on the dollar.” The article reports that this concept is growing, stating, “This popular -- or, is it populist -- idea has gone viral and already raised close to $200,000.” The Huffington Post goes on to explain, “Consider the benefits. This is a great way to get uncollectible portfolios off their desks. Not by reselling it to another debt buyer or agency to continue a cycle of pain, but by teaming up with Occupy to put these accounts finally and graciously to rest.”

John Monderine, the CEO of collection agency Rapid Recovery Solution, responds to the idea of the “Rolling Jubilee” by stating, “In order to do this right and avoid any tax issues, the debt must be purchased and just left alone. Any attempt at officially clearing this will result in tax complications.”

The Huffington Post article expresses that this concept may help free debtors from the worry of their bills. According to the article, “Rolling Jubilee will advise long-suffering debtors that at least one of their unpaid bills has been purchased by OWS, cleared at credit reporting agencies where possible, and abolished in full. Moreover, with the promise that they will never again receive another collection call on that particular bill.”

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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