Bohemia, NY (PRWEB) January 15, 2013
On January 15, 2013, collection agency Rapid Recovery Solution, commented on an Oregon Catalyst article by Senator Doug Whitsett, regarding the fact that Oregon needs to do a better job collecting on their debts.
According to the Oregon Catalyst article, “Oregon has a long history of less than competent collection of outstanding debt. Its latest report on Delinquent and Liquidated Accounts Receivable was released last month. The news is not good.” The article states that last year, a whopping $500 million is owed to the state of Oregon, and none of it was collected.
Now the total amount of owed debt exceeds an unacceptable amount of $3 billion. According to the article, “Oregon law requires that most accounts receivable be turned over for collection to either the Department of Revenue or a private collection agency within 90 days of becoming past due.”
The article states that of the $3 billion, more than $625 million was handed over to the Department of Revenue, and a small piece of $50 million was all that was collected. The article ended by stating, “To put it into perspective, collecting an additional $500 million in accounts receivable per two-year budget cycle would pay for more than 3,500 fully loaded teaching positions.”
John Monderine, CEO of collection agency Rapid Recovery Solution, offered his thoughts on the lack of debt collection in Oregon. “This is unacceptable. If there is such a large amount of money owed to you, there is no reason why you should not be collecting it,” says Monderine. “Like the article says, that money could offer more jobs in the state of Oregon, so collecting it is extremely important.”
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.