Bohemia, NY (PRWEB) November 20, 2012
On November 20, collection company Rapid Recovery Solution releases a statement in response to a recent article on Insidearm.com discussing myths regarding the new regulation of debt collection agencies by the Consumer Financial Protection Bureau (CFPB).
According to the article, a number of collection agencies feel that the new CFPB regulations either will not apply to them or that it would be too onerous to go through the new list of do’s and don’ts. The article goes on to explain that, while the rules may seem confusing at first, there really are only a few salient points that need to be considered and that, even though new regulations can always be a challenge to deal with, they are the law of the land and they have to followed.
John Monderine, CEO of Rapid Recovery Solution, responds to the article with praise. “There is a lot of confusion going on now about what exactly the CFPB is going to do when it starts its new oversight program. Therefore, articles like these are especially helpful for any collection company that wants to stay on the right side of federal guidelines. And, believe me, if you want to stay in business, you do. I look forward to more people in the coming months helping others in the debt collection industry by releasing their own clear, concise articles like this one.”
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.