Bohemia, NY (PRWEB) February 16, 2013
On February 16, CEO of Rapid Recovery Solutions John Monderine comments on an article published by Fox 47 discussing how Michiganders have been handling debt collectors.
According to the article posted by Fox 47, Michigan was one of the states hit the hardest during the recession and many people are still trying to bounce back from financial losses. The article said the debt load in Michigan is a lot heavier than in was the past few decades. The price of debt collection has also gone up, the article said, along with debt collection scams.
The article said debt collectors have to identify themselves as a collector as soon as they make contact with the consumer. They also have to tell the consumer where they are calling from and what the call is in reference to.
John Monderine, CEO of leading collection services agency Rapid Recovery Solutions, said laws require collection agencies to be up front about everything from the start. “It’s a violation of the law to impersonate an attorney or someone else when attempting to collect a debt from someone,” he said. “Consumers have a right to know who you are, why you’re calling and how much the debt is.”
Debt collectors are also required to tell you that you can dispute the debt. Similar to the Miranda rights, debt collectors must inform you of your right to challenge the debt amount. If a consumer is unsure or weary about the debt amount, they can request a written verification letter showing the amount owed and a notice authenticating the collection agency.
“People want to know where there money is going,” Monderine said. “They are allowed to ask an agency for authenticity documents and a copy of the debt value for their records. Though some agencies are out to disobey the rules set by the FTC, most just want to help. Scamming consumers isn’t really going to help get the debt paid or earn the consumers trust. Being dishonest will just cause more issues.”
The article said consumers should not provide any information to the agency until it validates its authenticity.
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.