Debt Collection Agency, Rapid Recovery Solution, Responds to the News of Wyoming City Having $247,000 in Uncollected Debt Wiped off the Books

Following an article about 247K in uncollected debt being wiped off the books in Wyoming, Rapid Recovery Solution responds with comments.

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Bohemia, NY (PRWEB) December 12, 2012

On December 12, 2012, debt collection agency, Rapid Recovery Solution responded to a Wyoming News article regarding the city of Cheyenne wiping a total of $247,000 in uncollected debt from the books.

According to the Wyoming News article, “The City Council is considering discharging $247,178 in uncollected debt, some of it dating back to the 1990s.” The article states that the city’s policy to disregard any debts that are over 4 years old and considered an uncollectible debt.

According to city treasurer Lois Huff, “The total is certainly not acceptable when you look at a list like this. People should consider the time frame over which the debt has accumulated.” The article mentions that although the total of $247,000 seems fairly high, it is only a small piece compared to the overall budget.

According to the article, the sum has accumulated from over 1,200 accounts. The article lists these accounts as, “424 that owe a total of $174,855 to various city departments; 695 accounts owe $62,101 for Board of Public Utilities sanitation billings; and 99 owe $10,221 due to insufficient checks.”

John Monderine, CEO of debt collection agency Rapid Recovery Solution, responded to the article with his thoughts and tips on collecting the debt. “Waiting 10 to 20 years to collect a debt is not wise. You should be placing those accounts after 120 days of nonpayment with a qualified collection agency.”

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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