Bohemia, NY (PRWEB) July 11, 2012
On July 11, 2012, Rapid Recovery Solution, Inc., issued a statement regarding the issue of student loans as a debt that legally requires payment in the wake of a news story regarding Linda Brice, a first grade teacher as well as Coast Guard veteran, due to a thirty-year-old loan that she has not made any payment on.
According to a report from The Huffington Post, Brice took out a $3,100 loan in order to pay for her college education. Thirty years later, the debt has not been paid off in any degree. Brice says that it was difficult to combat the lawyers, considering she had to support her daughter as well as herself. The conflict of Brice versus debt collectors stems back to the 1970’s. She attended, amongst other New York schools, Syracuse University. She finished off her educational endeavors after being a Coast Guard for a period of time and she currently holds a degree in psychology.
Even through Brice claimed that she never received a notice from the Education Department in regards to her loans, they argue that Brice had been mailed her 90 notices between 1990 and 1999. Even with more consolidated payments, Brice could not make the payments. While many sympathize with Brice, who has supported her community as an educator and with the Coast Guard, supporting her family – others argue that thirty years is an ample amount of time to pay off student loans over time to avoid the stress that the financial situation has caused. According to a May report by The Los Angeles Times, “The average debt is about $25,000 to $28,700, according to estimates by education experts and organizations.” The Federal Student Aid website goes on to say that most students will have between 10 and 25 years to repay these debts, depending on what plan they choose.
“I think that student loan debts should be no different than credit card debt,” says John Monderine, President and CEO of Rapid Recovery Solution, Inc., “I feel like these people should follow the same rules that everyone else follows. I have seven years to collect a debt; I don’t have thirty. At the same time, you have to know what’s legal.”
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.