Company News: Page (1) of 1 - 02/08/13

Rapid Recovery Solutions Responds to Ferndale Patch Article Reporting Libraries Using Commercial Debt Collection Agencies For Overdue Items

(February 08, 2013)

Bohemia, N.Y. (PRWEB) February 08, 2013

On February 8, John Monderine, CEO of Rapid Recovery Solution, comments on an article published by the Ferndale Patch, which details how a local library is collecting on overdue items.

According to the article published by the Ferndale Patch, the Ferndale Public Library discovered that they lost over $40,000 due to lost or overdue books in 2012. This figure was the total worth of lost library materials for the last five years. The article said they compiled these numbers by researching how many books were checked out, but never returned.

Last month, the Ferndale Public Library Board of Trustees decided that they had to introduce a policy that would force patrons to return books, the article said. The library decided to use a collection agency to encourage people with overdue items to bring them back.

John Monderine, CEO of collection agency Rapid Recovery Solution, said it was a smart idea for libraries to contract commercial debt collection agencies. Why shouldnt a library be able to hire a collection agency? he said. Books, DVDs, CD,s and games cost a lot of money, so its definitely something worth collecting on. This library already lost $40,000 in unreturned items. I think this is a good way to give patrons a little push to remember to return items.

The article said the Library Board decided that each patron would bear the cost of hiring the collection agency. Patrons with outstanding overdue charges of $20 for 60 days or longer will be contacted by a local collection agency selected on by the Library Board. These fees will help the library buy additional items, as well as replace ones that have been lost, the article said.

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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Read the full story at http://www.prweb.com/releases/2013/2/prweb10408075.htm.

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