Rapid Recovery Solution Discusses Collection Agencies’ Streamlining Through Use of Tech

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Rapid Recovery Solution offers a response to article reporting the development of new software for debt collection agencies.

On April 17, 2013, Rapid Recovery Solution comments on Michigan based company release of new software designed to help people to pay off debt to collection agencies online.

According to recent reports on AnnArbor.com, an Ann Arbor-based technology company is growing their software for debt collection agencies as well as big companies with “delinquent accounts.” The settlement app permits people to pay off debt through collection agencies via the Internet. Two years ago, the company had over 500,000 debtors signed up, and now that number has climbed to over 750,000.

The app’s co-founder states, “We've definitely grown... I think we had a good year. It's been a consistent upward growth and it's been managed growth. Hopefully we can hire more people." He adds that the company hopes to attract potential outlets to use the software. Ann Arbor Credit Bureau CEO lauds the increase in payments due to the software, “It continues to grow and we're really impressed by it. They gave us an online option that we didn’t previously have in place. When the economy turned south in 2008, one of our focuses was to do business with people that are in this state."

"What we see is there are so many businesses collecting checks and checks are dying," he adds. "There's a huge movement to digitize money and until we can remove checks completely, they’re inefficient and with technology, it's quicker."

Accordingly, there are plans to extend the enterprise beyond the world of debt collection agencies to hospitals, medical billing sites and to venues outside of Michigan. With that in mind they’ve developed another app, Rent Roll, which allows landlords to collect rent online, says the article.

Rapid Recovery Solution CEO John Monderine praises the use of technology in streamlining the collection rate and the process used by collection agencies. “Many people find it challenging to navigate debt – maybe this applies to collectors even more than debtors. With online software like this, consumers can more efficiently pay off their debt and make the necessary payments. Collection agencies will see an increase in consumer payments due to the digitization of money.”

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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