Accounts Receivable Collection CEO Responds to Ways to Avoid Debt

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John Monderine, CEO of Rapid Recovery Solution, responds to tips to consumers for avoiding debt.

In some ways, it’s simple: you need to have less money going out than you have coming in.

On June 15, 2013, John Monderine, CEO of the accounts receivable collection agency Rapid Recovery Solution, issues a response to the question of how to avoid being overcome by debt.

In a June 13 article from MSN Money, “How to avoid sinking into debt,”’s Jane Young offers advice to consumers for avoiding debt.

“Staying out of debt is just as important as getting out of debt in the first place,” says Young. “And the first step toward staying out of debt is to understand your financial situation, and establish some goals on how you want to spend your money.”

John Monderine agrees that goal-setting is key. “You have to prioritize, plan ahead and be realistic,” he says. “A goal without commitment is just an idea.” Taking small steps and planning ahead will make it easier, says Young.

For those not in debt, Young recommends creating a safety net: an emergency fund “of at least four months of expenses.” For those without the luxury to set aside so much liquid, Monderine says to start smaller – save at least ten percent of your gross income, and put another five percent toward your emergency fund.

Other tips of Young’s include avoiding personal loans and credit card balances: “If you can't pay off your credit cards in full at the end of every month, don't use them.” Monderine says to save up the cash to pay for expensive personal items like furniture and computers.

Monderine says the main thing to remember is to be informed about your own finances. “Most people get into debt because they don’t understand their financial situation. In some ways, it’s simple: you need to have less money going out than you have coming in. Check your credit score – but don’t do it often. Analyze your spending habits, create a budget that accounts for contingencies, and stick to it.”

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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