Collection Agency Rapid Recovery Solutions Proposes Responsible Strategies for Students in Debt
Bohemia, NY (PRWEB) July 17, 2013 -- On July 17, Collection agency Rapid Recovery Solution, Inc. is keeping a close eye on the murky financial outlook for graduating students.
According to a Fox Business article from July 15 titled“How Grads Should Prioritize Their Debt Repayment,” 70% of 2013 graduates have amassed an average debt of $35,200. This figure includes money owed for federal, state and private loans, credit card charges, and even debt to family members for various school expenses. Making matters worse, 50% of students are surprised to learn of their debt totals upon graduating.
The article goes on to offer unique advice for indebted young adults. Creating a budget for oneself is essential to financial stability, as is prioritizing debt based on the size of balances and interest rates attached to each. Furthermore, private loans should be paid off before federal loans in many cases.
John Monderine, CEO of Rapid Recovery Solutions, Inc., provides the expert opinion of an accounts receivable collection specialist. “The importance of a solid credit history upon entering the workforce should never be discounted. College kids too often misjudge their economic standing and assume that securing a job out of college automatically equates to financial security.” Monderine continues with advice of his own. “In today’s world, moving back with one’s parents or relatives before leasing that post-college apartment is in no way a failure or step back. The key is always to nip debt in the butt, and saving money when possible is the best way to accomplish this.”
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.
###
Sean Nolan, Rapid Recovery Solution, Inc, http://www.rapidrecoverysolution.com, +1 (866) 944-8610, [email protected]
Share this article