One of Long Island’s Leading Commercial Collection Agencies, Rapid Recovery Solution, Commented on Detroit’s Collection Plan to Save $50 Million Annually

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Following an article about Detroit’s revenue collection measures to save $50 million a year, Rapid Recovery Solution offered comments.

On January 19, 2013, One of Long Island’s leading commercial collection agencies, Rapid Recovery Solution, commented on a Michigan Chronicle article by Minehaha Forman, regarding Detroit’s collection plan to save an average of $50 million annually.

According to the Michigan Chronicle article, “In a press conference Wednesday afternoon Mayor Dave Bing announced ten cost saving and revenue collection measures estimated to save the city $50 million annually.” The article states that Mayor Bing was joined by Chief Financial Officer Jack Martin and Finance Director Cheryl Johnson, as they announced their plan to collect delinquent debts, sell assets, and slice city payroll.

According to the article, “The “revenue enhancement initiative” calls for amnesty on delinquent taxes and fines paid in full during a 30-day window for each amnesty program. Unpaid balances will be referred to an outside collection agency with penalties.”

The article informed that the city estimates to collect $20 million in delinquent debts, $7.2 million through assets, and $10 million through payroll cuts. According to Mayor Dave Bing, “There are a lot of people who think we haven’t done anything, that we’re just sitting around twiddling our thumbs but we’ve already collected over $11 million year to date and I think we’re going to reach that dollar amount of $50 million.”

John Monderine, CEO of Rapid Recovery Solution, one of the expert commercial collection agencies, offered their comments on Bing’s plans to collect $50 million annually. “You have to be aggressive and make sure you collect on the debts owed to you, especially ones that will save a city $50 million,” said Monderine. “So I am glad to see Bing taking initiative here and collecting on the delinquent debts.”

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.


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