Collection Agency Rapid Recovery Solution Anticipates a Rise In Consumer Debt
Bohemia, NY (PRWEB) July 12, 2013 -- On July 12, Rapid Recovery Solution, Inc. assesses the future outlook of national debt and its potential positive impact on broader U.S. economy.
According to a July 8th article published by The Washington Post titled “Consumer debt is soaring. That’s good news (for now)”, consumer debt is steadily on the rise, with a recent spike in the past month.The piece predicts that such a trend could signal an improved economic future.
The article then discusses that after a decline in consumer credit following the economic downturn of 2008, Americans’ confidence in the economy began to cultivate nearly 30 months later. Early 2011 suggested the end of the “Great Recession” with overall spending increasing on a national scale. A debt increase of $19.6 billion in May advances the belief that Americans share a positive sentiment towards the economy and are once again willing to apply for loans and commit to substantial purchases.
Along these lines, the article continues, debtors’ confidence in satisfying loan requests is equally improving, contributing to an increase in consumer buying power. All this, theoretically, should facilitate the economic recovery with job creation and salary hikes. As long as demand for consumer products is sustained, American debt will continue to rise alongside the economy.
John Monderine, CEO of Rapid Recovery Solutions, Inc., has kept a close eye on these trends and lends his opinion. “Over time, demand for loans always occurs in waves, and we happen to be riding the incline right now. May was an especially active month for debt because an 8.3% annual rate increase is definitely not the norm.” He goes on to clarify that “Rapid Recovery Solutions has experienced a steady increase in business for few years as the economy has gradually improved.”
Monderine then explains how his firm is handling the added workload. “Improved consumer confidence frequently correlates to reckless spending and late payments. As a one of the leading collection services, we are happy to consult with consumers and work through new debt together.”
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, 866-944-8610, [email protected]
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