Bohemia, NY (PRWEB) September 26, 2012
On September 26th, collection agency Rapid Recovery Solution reacts to an article published for Business Insider regarding the necessary measures taken after a debt collector makes contact.
Mandi Woodruff, according to Business Insider, expressed that while fighting a $108 blood test bill, she received a collection letter. Fearful for her credit, Woodruff paid the bill in full immediately. According to John Ulzheimer, a credit expert at the personal finance site Credit Sesame, to avoid credit problems it is best to pay off a bill directly after receiving a collection letter. Ulzheimer explains, “If the debt was just consigned to the debt collector then paying the original service provider was a good idea. When the service provider still accepts payments it means they haven't sold the debt outright...and early payment can sometimes circumvent the reporting.”
According to Business Insider, Woodruff, after paying the bill, contacted the collector, who affirmed that the debt had yet to be reported. John Monderine, CEO for the collection agency Rapid Recovery Solution expresses that it’s important to not avoid or ignore debt collectors. “Communication is the key. A collector does not want to harm you in any way; they just want to work out a repayment plan,” states Monderine.
Ulzheimer reports, “The timing of the reporting of the debt to the credit bureaus is optional, meaning it's the collector's option to a) report it quickly b) report it after a few months of non-payment or c) report it at all. There is no law or rule that requires a debt collector report their accounts to any of the credit bureaus. It's all voluntary.” In addition, if you do not have the money to pay off the bill immediately, the author explains, “The lab was willing to give me a 30 day extension every time I called to check on the status of my bill, and your chances of getting what you want are higher if their records show you actively keep in contact.”
Established in 2006, Rapid Recovery Solution, Inc. can be found at the highest point of peaceful Long Island. Rapid Recoverys Collections 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.