Collection Services Experts, Rapid Recovery Solution, Discusses Consumer Complaints

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After reports from insideARM that complaint data against the debt settlement industry reveal that non-complaints routinely get mixed in with legitimate ones, the CEO of Rapid Recovery Solution comments.

On April 16, Rapid Recovery Solution responds to reports that many of the consumer complaints against the debt collection industry from the past two years were not actually complaints, or were mislabeled ones.

According to a recent article, last year, insideARM submitted a Freedom of Information Act request to the Federal Trade Commission (FTC), asking for “complaint data against the collection industry.”

“In part, the goal was to see what made up the complaints — 199,721 in 2012; 180,928 in 2011 — since the collection industry is often dinged in the press for its complaints numbers: usually the second highest category each year in the FTC’s complaints report. Upon close examination of the reports, however, what insideARM discovered is that a significant percentage of those complaints… weren’t.”

InsideARM found than many of the legitimate complaints were with the original creditor, even though they were ultimately attributed to the collection services agency. Another common miscategorization was with complaints that were actually about specific products purchased, “but the complaint was lodged against the collection agency because that’s who happened to call.”

John Monderine, CEO of the debt collection services agency Rapid Recovery Solution, says that systemic problems with the complaint-filing process not only lead to a lower rate of complaint resolution, but also create a lot of inaccurate data that is used to tarnish the reputation of the debt settlement industry. “The reason this creates difficulty for our industry is that the FTC has no infrastructure in place to verify the accuracy of consumer complaints. As the author points out, the perceived professionalism of this industry is largely determined from this kind of activity.”

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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