Bohemia, NY (PRWEB) August 15, 2012
August 15, 2012, collection agency Rapid Recovery Solution responds to an article published on Lawyers.com regarding the possible changes suggested for the Fair Debt Collection Practices Act with the intention to protect consumers against unlawful debt collection tactics.
According to the article, the rules under the Fair Debt Collection Act, passed in 1977, include, “prohibiting any type of harassment or abuse of the consumer by the debt collector, prohibiting the use of any false, deceptive or misleading acts or statements by a debt collector” and several other prohibitions. The article expresses that although the law creates restrictions for debt collectors, Minnesota Senator Al Franken hopes to make debt collection more difficult for collectors by proposing to alter the FDCPA.
Franken had proposed a bill in June, entitled the End Debt Collector Abuse Act (S 3350) and this act may expand the FDCPA considerably. According to the article, Franken is hopeful that the End Debt Collector Abuse Act will do wonders updating the FDCPA and will “help keep the work of debt collectors reputable and respectable.”
As stated by John Redding, counsel with BuckleySandler LLC, the End Debt Collector Abuse Act will “create big transformations for creditors and debt collectors alike.” Redding explains that changes will “include necessary updates for policies and procedures, employees will need to be retrained and other changes that could possibly increase the cost of collection and the cost of credit.”
The article sheds light on what types of issues can arise with debt collection and creditors. John Monderine, CEO for collection agency Rapid Recovery Solution, Inc., is appalled by the unfair tactics used by non-reputable debt collection agencies. Monderine states, “It’s amazing that in this day and age collection agencies are still trying to collect money that is not legally owed.” Rapid Recovery Solution uses respectable debt collection methods when they are collecting.
Founded in 2006, Rapid Recovery Solution, Inc. is stationed at the highest point of beautiful Long Island. Rapid Recovery Collection Agency is entirely committed to recovering your funds. We truly believe that every debtor has the ability to pay if they are motivated. We DO NOT alienate the debtors; we strive to partner with them and offer numerous ways to resolve not only your debt but also all of their debts.