Bohemia, NY (PRWEB) July 27, 2012
On July 27, 2012, collection agency, Rapid Recovery Solution, Inc. comments on the Consumer Financial Protection Bureau (CFPB) releasing a new Student Loan Collection Assistant to aid student loan borrowers or debtors at risk of or currently facing default student loans.
Although this Student Loan Collection Assistant may not deter the number of default student loans, it could allow loan borrowers to interact with collection agencies more frequently and make the process of paying back default loans easier for both parties.
According to the online assistant released by the CFPB, this solution stresses how necessary it is for the borrowers to get in touch with the servicers who are collecting the loans from them in the first place. “It’s very important to know your servicer. This might be a different company from the original lender,” the online assistant states.
Rapid Recovery Solution, Inc. CEO, John Monderine, comments on the usefulness of this new tool: “This is a great tool to help recent graduates balance a tough job market with repaying their loan obligations.”
The Student Loan Collection Assistant tool is mutually beneficial to both collection agencies and loan borrowers alike. It gives borrowers numerous options on how to pay back their default loans and allows common ground to be reached between the borrowers and debt collectors. With more student loans being offered, this could become a useful tool for student loan borrowers who will run the risk of facing a default loan and may help to make their situations easier.
Rapid Recovery Solution
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.