Bohemia, NY (PRWEB) December 15, 2012
On December 15, 2012, collection agency Rapid Recovery Solution released a statement following a NewsDay article by Khanyile Mlotshwa regarding the rise of Bulawayo City Council’s debt recovery rate.
According to the News Day article, “The Bulawayo City Council (BCC) says its debt recovery rate has risen to about 70% since it took the decision to take debtors to court.” The article states that the council recently brought ratepayers with unpaid rates, that were below a total of $2,000, to the courts for prosecution. Higher debts were directed towards council lawyers.
“The average collection rate was 39% which was bound to increase when further processes were done,” the report read. “Out of an amount of $4,599,471 handed over from financial services department, $3,217,246 has since been paid, giving a collection rate of 70%.”
The article states that the remaining balance uncollected comes from accounts with no attachable property, water final accounts, undeveloped stands, and unknown defendants to name a few. The article admits that the City of Bulawayo would have liked to reach a rate of 74% and 87%, but a 31% increase is not bad at all.
John Monderine, CEO of collection agency Rapid Recovery Solution, offered his comments on the news. “I am glad to see a city taking aggressive legal action to collect the debts owed to them. As you can tell it worked, and if they continue down this road they should see more increases,” 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 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.