Bohemia, NY (PRWEB) February 13, 2013
On February 13, CEO of Rapid Recovery Solutions John Monderine reacts to an article published on the Daily Shift describing how one Irish college is planning on reclaiming money owed by students
According to the article posted by the Daily Shift, University College Dublin is beginning to implement a new program to recover student fees. UCD, the largest college in the country, is going to be the second university to use a debt-collecting agency to recover fees owed by students, the article said. The University of Limerick was the first.
The article said UCD distributed a written notice, advertising the need for a reputable agency to collect money from students with outstanding balances. The university’s proposed contact is said to be worth at least €200,000 or $269,000, the article said.
Due to the worldwide financial recession, colleges and universities in Ireland have tightening budgets. Because of the heavy financial pressure, schools have to cut programs and limit how they spend money. Press officer Sheena Doyle of the University of Limerick, the first university in Ireland to contract debt collectors, said, “As a public body the University of Limerick has a duty to seek to recover outstanding debts. Students are currently not permitted to graduate with outstanding student fee debt. Having applied a range of debt collection practices, the University of Limerick, like other Irish universities and other public bodies, uses external mechanisms as a last resort in recovering long standing debts.”
However, some students don’t like the idea of using debt collectors, the article said. The Union of Students in Ireland said that collectors have the sole purpose of intimidating students in to repaying debts with money they don’t have. The USI said colleges are expensive as it is and people can barely afford to pay for tuition, let along outstanding fees.
John Monderine, CEO of one of Long Island’s leading accounts receivable collection agencies Rapid Recovery Solution, said those students have a misinterpretation of debt collectors. “Not all debt collection agencies want to threaten students into paying debts,” he said. “We understand students are extremely low on money, so we try to offer them options on ways to pay back what they owe.”
Monderine said there is nothing wrong with a university using a collection agency to recover funds from students. “If collecting outstanding bills from students can help fund programs that were previously cut due to a strict budget, why should the students be upset?” he said. “It’s helping them get a better education in the long run.”
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.