Bohemia, NY (PRWEB) August 08, 2012
On August 8th, 2012, collection agency Rapid Recovery Solution, Inc. observed recent financial reports stating that there has been a steady decrease in business debt collections since 2011. Although the agency acknowledges that other debt situations such as student loans are still very prevalent, this short drop could indicate gradually improving economic conditions.
The report made in an article by Credit Today indicated that that the number of business to business collections filed had declined by at least 4.3%. According to the Commercial Collection Agency Association, the number of collections that its various collection agency members received had fallen since 2011 and the dollar amount of the accounts had gone down as well.
“Business debt collections are down because of tighter lending from creditors,” said John Monderine, President and CEO of Rapid Recovery Solution, Inc.
This may indicate that this shift may not necessarily be a sign of improving economic conditions, but further measures by lenders to avoid default accounts. With escalating rates of default loans, creditors are further trying to avoid the need to pursue these accounts when they go default. Business to business loans and thus collections have decreased as creditors have begun taking less leeway with lending.
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.