Bohemia, NY (PRWEB) March 05, 2013
On March 5, Rapid Recovery Solution offers advice to Millennials on ways to avoid future relationships with commercial debt collection agencies in response to a recent study featured in Fox Business that showed Millennials are more likely to have credit card debt.
According to the study in the Fox Business article, “children born between 1980-1984 – also known as Millennials – are projected to owe $5,689 more in credit card debt than those born between 1950-1954, a generation many Millennial parents belong to.” Conducted by researchers at Ohio State University, the study covered young adults’ “amount of credit card debt” and their pay-off rate, the article stated.
Due to the influx of debt, the study suggested that Millennials could have credit card debt for the rest of their lives. “According to the study’s authors, the data also suggest Millennials may continue to charge purchases until they are 70 and may even die owing money on bank cards,” the article stated.
John Monderine, CEO of Rapid Recovery Solution, acknowledges the debt issue among Millennials and says, “Debt is a heavy burden for anyone and the key to resolving it is to form an action plan right away, and as early as possible, to stop mounting debt.” Monderine adds, “Having a plan helps you fix your situation and avoids conflicts with commercial debt collection agencies in the future. Be smart with your credit – make a plan for life.”
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.