Debt Collections Agency Rapid Recovery Solutions Reacts to a Story in Reuters on New Supervision of Debt Collectors to Take Place in January

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A recent story in Reuters said that the U.S. consumer agency will be closely supervised starting in January. Rapid Recovery Solutions reacts to the news.

On November 27, Rapid Recovery Solutions reacted to a story in Reuters on new watchdog policies on debt collection agencies.

According to the article from Reuters, “the Consumer Financial Protection Bureau (CFPB) said on Wednesday [October 24] it had finalized plans to oversee larger firms in the industry to make sure debt collectors treat Americans fairly.”

The article also said that 175 debt collection agencies will be supervised by the CFPB,starting in January 2013. “The agency said it will determine whether debt collectors properly disclose the amount owed, maintain accurate data about consumer debt, and address consumer complaints quickly.

John Monderine, CEO of the debt collection agency Rapid Recovery Solutions, issued a response to this news. “It is very important that people’s rights are protected when they deal with collection agencies,” he said. “But we want people to remember that debt collectors are not evil companies that are just out to get your money. We are only hired to collect money owed, and we never want to overstep our bounds or make people feel like they are being harassed.”

Founded in 2006, Rapid Recovery Solution 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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