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Rapid Collection Agency BLOG

Debt Collecting: Your Protected Rights from a Collection Agency

When someone claims that you owe them money they will do anything to get their bottom line; this can be a scary thing. You are on the receiving end of this lawsuit and you aren’t sure if you are protected from debt collecting harassment. It seems like you’re on the gridiron without even so much as a face guard to help protect yourself. There are laws which exist to protect you from potential unlawful practices of a bad collection agency that most are unaware.

 

Debt collecting has to have a solid foundation in honesty; any false statements that an agency can make are totally out of bounds. An agency cannot accuse you of committing a crime when you know you have not done such a thing. If they say that you owe over $500 in traffic tickets, for example, they can be held accountable for false statements. Another out-of-bounds move is altering the money you owe in such a way that the owed amount might be augmented.

 

Perhaps an even greater offense than false accusations towards the target is harassment. The idea of harassment by a collection agency goes far deeper than simply phoning someone for weeks or even months on end. Profane language is a big no-no as well. Any company, whether based in debt collecting or otherwise, should present themselves with a professional image and spouting off foul words that will make the late George Carlin blush does them no favors. To say that violence is not allowed is an understatement and only adds to the acts of treatment one does not have to put up with.

 

If you find yourself the victim of unlawful debt collection practices you can report such negative social behaviors. Just like any law, they may vary between states so make absolutely certain that you know your rights. Overall, being treated fairly is the utmost priority of a collection agency. If you’re the target and you’re being harassed, it can be solved by reporting such behavior to your state’s Attorney General Office or at the Federal Trade Commission.
Posted by JR Rooney at 5/11/2012 8:08 AM | Add Comment

Teen Credit Card Use

More and more teenagers are opening credit cards lately. Some parents are actually encouraging their teens to get a credit card, thinking that it will teach them financial responsibility. However, that isn’t necessarily the case with teen credit card use. A lot of times, parents are doing their children a disservice by allowing them to have credit cards at such a young age. It is like handing them a weapon to teach them not to use it; it just doesn’t work.

Parents should be more conservative in their decision making with these matters, especially if their teen doesn’t have a job. How is giving the individual a credit card with no way to pay off their debt going to help? They’ll have a collection agency knocking down their door before they even graduate college and get a job. Trust me, a teenager can find ways to go into debt with all the things they want to buy today – new clothes, a new phone, maybe an iPod – the list goes on and on. Without a source of income to pay for these things, teens shouldn’t be buying them.

Giving teens a credit card just makes them think that they can afford all these nice things without having to ask their parents for money and without consequence. In the end, the most likely result is the parents will end up paying off their children’s bad debt. So what is that teaching them? How are they learning financial responsibility now? And what happens if their parents don’t bail them out? We’re going to have more young people filing for bankruptcy because they are getting credit cards before they can really handle them.

If you visit a college campus, you’d be shocked at how many credit card companies are advertising to young people without jobs. As you can see, the results of this can be truly distressing. This is a real problem. Some college students have even gone to extreme measures and committed suicide due to carrying an overwhelming amount of credit card debt. We need to stop this from happening. To do that, parents need to teach their teens the importance of waiting to have a credit card until you can financially support yourself. Maybe we should even start teaching mandatory finance classes to students in high school. Somehow, we need to find a way to properly educate teens about the dangers of credit cards.

 

Posted by JR Rooney at 5/4/2012 10:41 AM | Add Comment

The Problems Of Defaulting On Your Student Loan

Various people who have trouble paying for their tuition at college end up asking for aid in the form of student loans. While these people may need the help when they are in college this matter can change once they have graduated and they have a job. It is at this point that the former student forgets to re-pay the loan. These defaulted student loans are loans which will not disappear even after a number of years.

As you are borrowing money from a state authorized institution the records of your defaulted student loan will be well maintained. To wipe these records clean you will need to have a discussion with your former college tuition officer. From this individual you will be notified as to the amount of money that you have unpaid.

Additionally you will be able to talk about the repayment method which will help you out of this problem. You will need to make sure that you make known your current ability of payment. This is important as you will need to arrive at an agreement about the amount you will pay for your defaulted student loans.

Once you have collected all of the details about how much you have to pay and the time length you can start figuring out the time frame for payment. While getting your student loan will be easy and helpful you will find many serious repercussions if you default on your payment.

These defaulted student loans will be looked at in different ways depending on the institution you were in. The federal government has provided ways for you to get out of difficulty by paying the loan off. Otherwise the university or college can contact a loan collection agency. These agencies are authorized to collect the money you have outstanding.

There are times when you could be sued for your non-payment of the defaulted student loans. These are the cases when you will even have to face going to trial for your trying to evade your duties. These are just a few of the many serious penalties you will face if your try to default on your loan for any reason. If you think you are getting into sizable financial difficulties you should discuss your payment options with the loan officer in your college.

For many of us these student loans are one way of minimizing the stress of trying to live as a college student while you are paying for your education. Once you have finished with your course of education you should start making re-payments on your student loan.

The defaulted student loans which some former students face have devastating consequences that can haunt them right throughout their adult life. To stop this from happening to you ensure that you pay for your student loan quickly.
Posted by JR Rooney at 4/26/2012 2:58 PM | Add Comment

Fly Clear with a CLEARcard: CLEARcard compared to EZ Pass

I love to travel, and I do so quite frequently, so I have been looking for ways to make my traveling more predictable and easier. In my travels I have stumbled across the CLEARcard from Clear Me, which is a membership that literally allows you to fly clear by providing legitimately clear airport security. Since I’ve been using this service I have no complaints, actually, I love the service and I think that it’s a must have for any frequent traveler. My aim in this blog is to compare this CLEARcard to the EZ Pass, well known for highway and interstate tolls.

 

Like the EZ Pass, the CLEARcard is a membership that you must sign up for and there is an annual cost of less than $200. Also, like the EZ Pass the benefits of being a member allows you to swiftly slide through airport security, much like how you can swiftly slide through a toll both instead of having to stop and wait on line.

 

Overall, I believe that this service is really useful and something that should greatly be considered for all frequent travelers. I know that when you see almost $200 as an annual fee, the first thing you think of is “Well, is it worth it?” And the answer is yes, I can tell you from experience that this service is really useful and has, in a few cases, been the reason I actually made my plane.

 

I do a lot of traveling to Orlando to work with a couple of programmers on various different projects, most of which deal with graphic design and graphic layout. Since the CLEARcard is accepted in Orlando’s airports, it made a lot of sense for me to sign up for a membership. It was almost something that I had to do, because I’m actually reaping the benefits of this membership.

           

In conclusion, the CLEARcard is a great thing to have if you are a frequent traveler, and in comparison to the EZ Pass, it is just as effective, just as affordable, and just as worth it as the EZ Pass is. For those that commute from state to state, or have to deal with toll booths on their way to work, I would highly advise you to take a look into the EZ Pass. And those that take trips on planes often, I highly advise you to take a look into the CLEARcard, it may be even more beneficial than you think.

clear airport security
Posted by JR Rooney at 4/24/2012 10:00 AM | Add Comment

Picking The Right Collection Agency To Avoid Being Cheated

When gathering the money one feels they are owed, it's difficult to figure out who will be honest when going about the situation. Finding the right people to help one collect their bad debt is challenged more so when the risk of being cheated by a collection agency looms over their head like a dark cloud. Due to the name recognition of certain debt collection agencies, it would make sense that people were fearful to take them to court. However, there are facts that exist and they are ones that should give those who are determined to collect money some needed hope.

In 2010 alone, there have been cases where people were arrested due to a collection agency and their sketchy business practices. Unlawful business practices should not be a part of any collection agency; after all, they are designed to aide people. Stories have to be made available for those curious about certain companies to help make educated choices. They have to key in on the most legitimate stories with the greatest information available. In order for agencies to be taken seriously, having testimonials from those who were successful would help perpetuate additional successes.

Crime rates for illegitimate companies have to be made more widely open on the Internet as well. People have a hard time trusting debt collection agencies as it is, so why make numbers so scarce? The company has to be recognized and people should be able to recommend it to their friends and families. Word gets around swiftly in a group, for better or worse. In a society where people can't help but connect to one another about any little thing, having a long-standing reputation is imperative for any company, debt collection or otherwise, to see results.

Being able to be recognized is perhaps the most important aspect of a debt collection company. After all, if one's way of speaking doesn't reach the dictionary of a client, understanding is lost. A worker within a collection agency should be brief and not drawn-out. It's not uncommon for people to believe that because of language that is difficult to understand, the worker has the intention of robbing money. The simple act of keeping things simple will more easily score the trust of a client.

A customer shouldn't have the fear of being duped by a collection agency but the fact of the matter is that information is hard to come by. No one wants to immerse into the unknown and they would rather have hard facts and statistics to help make rational choices. A organization has to have a good record with customers so that they won't feel that they're going to be cheated. In addition, being able to comprehend a worker who's secure enough to keep words short and sweet can only help. Word can spread and money will increase if a <a href="http://www.rapidrecoverysolution.com/Commercial_Collection_Ag.html">commercial collection agency</a> keeps the customer in mind.
Posted by JR Rooney at 4/20/2012 6:04 AM | Add Comment

Retirement Savings And What They Mean To You

Even though we're a <a href="http://www.rapidrecoverysolution.com/Credit_Collection_Agency.html">credit collection agency</a>, we get a lot of questions about general finance.  Therefore, we would like to share some of our insights on retirement savings with you.

Starting to build secure retirement savings from an early age could guarantee you a soothing and stress-free life after retirement. It is necessary to make sure that you make a monthly contribution towards your retirement goal to ensure the continuity of your lifestyle. There are many methods, which can be successfully employed to calculate retirement savings and the percentage of the monthly income you need to put aside.

A pension planning tool is a financial planning way, which will use your current monthly income, age and other factors to determine retirement savings and determine what you need to do to handle your retirement goals. The determinant factors to calculate retirement savings are typically age, current monthly income, expected age of retirement and gross retirement returns, which are based on your profession and your demands. In any event, note that certain external factors such as a recession, inflation rates and interest rates could also affect when you set out to calculate retirement plan savings to ensure your future.

Starting to determine retirement savings and expected post-retirement income should begin by adding up the almost guaranteed income sources such as social security, pension payments and annuities. Once you know the amount you are sure to obtain, it is then time to proceed to calculate your monthly input in to the situation. A retirement calculator will tell you exactly how much you need to save each month to create up your retirement fund as well as the expected total return from your savings. You need to make sure that the expected returns will cover all of your expenses such as bills and all of your envisioned activities such as traveling.

Using several retirement plan calculators would be a good idea as each calculator takes different factors in to account to estimate retirement savings for you. Some retirement calculators take aspects such as life expectancy based on family history, whether you are identified with a advanced illness, which will lead to large medical expenses and your ideas on post-retirement employments in to consideration as they set out to calculate retirement savings.

Having a dream or a clear sight, on your best post-retirement life will be an added aid for you to calculate retirement plan savings as your ideas on where you are going to live. What sort of activities you wish to take on, and even your ideal age of retirement will quickly affect to the monthly contribution you are expected to make. Being careful and exercising device on impulsive spending and avoiding unnecessary expenditures will keep you on the right track to achieve your retirement goals as well as other financial goals and expectations. Setting out to plan and calculate retirement plan savings wisely and early in your life will lead to an calming and comfortable post-retirement lifestyle while allowing more than enough room to make configurations whenever the need arises.
Posted by JR Rooney at 4/13/2012 5:32 AM | Add Comment

Keeping People From Repossessing Your Car

Although people often think that because we work at a collection company, we would want people to default on their loans.  That's not the case.  We truly want everybody to pay their debts as painlessly as possible.  Therefore, we occasionally help people avoid the worst part of any collections: repossession.

Individuals find it easier and easier today to make loans at banks in order to acquire items to make their lives more comfortable and pleasant today. Sometimes these things are cars. But when making a loan at the bank in order to invest in a car, not everybody is well informed about the hazards of not being able to return that money to the bank in the scheduled time. The contract that the debtor signs with the creditor may very well include auto repossession in case payments fail to be made towards the bank.

To be a lot more specific, auto repossession can take place even the second day after one payment date is overdue. That is why the debtor must be very familiar with his obligations towards the bank so he would know precisely what needs to be done in order to steer clear of auto repossession.

Most creditor and banks follow certain procedures prior to resorting to auto repossession. They start in first calling or emailing the debtor to warn him about skipping one payment towards the bank. If that payment is not made as the creditor and the contract demands, a grace period follows in which more there is more warning coming from the creditor and in which the debtor has the opportunity to accumulate the money he needs in order to settle his existing debt with the bank.

If this is attained, there might be no risk of auto repossession, but if the borrower fails to bring his monthly payment up to date, the bank has the right to claim and pick up the vehicle acquired with that loan. Some loan contracts specify that the rightful owner of the vehicle is not the debtor but the creditor up to the time when the debt is acquitted.

Auto repossession is quite a trauma for some folks because this involves spending even more money than what the monthly payment brought up to date would mean. If the bank repossesses the vehicle without the debtors OK, then repossession charges and storage and other fees will simply add to the debt of the borrower. This can be prevented by the debtor through resorting to voluntary auto repossession.

Be it voluntary or not, once repossession has occurred the creditor may decide to keep the automobile for its own interests or sell it in order to catch up with the financial losses brought along by the debtor's failure to make the monthly payments. Knowing laws and carefully reading the loan contract is one of the basics in knowing what the debtor's rights and obligations are in case it all comes down to auto repossession, an very uncomfortable thing for most people.
Posted by JR Rooney at 4/6/2012 9:00 AM | Add Comment

Alternative Minimum Tax Laws

Even though we're a <a href="http://www.rapidrecoverysolution.com/Collection_Company.html/">collection company</a>, we get a large number of finance questions.  One of the most common questions we get is: what is the alternative minimum tax and are you susceptible to it? How do you know if you need to worry about it at all? Often referred to as the AMT, the alternative minimum tax became effective in 1970. The original purpose of the AMT was to target certain households that had become qualified for so many benefits that they owed every little or even no income tax under the tax code at that time. Many changes have been made through the 1980s as well as the 1990s.

At its most basic form, the alternative minimum tax is a type of supplementary tax that some taxpayers must pay in addition to their regular income tax. The objective behind the induction of the AMT was to make sure that individuals and households with very high incomes were not able to use special benefits to avoid paying taxes. Today, however, there are even some individuals and households who do not have high income levels and who do not claim special tax benefits who have become subjected to the alternative minimum tax.

The rules behind the AMT are supposed to evaluate the minimum amount of tax that an individual at a specific income level would be required to pay. This means that someone who is already paying that minimum would not need to pay the AMT. If their regular tax amount goes beneath the minimum, however, they would be required to pay the adjustment through the AMT.

Determining whether you must pay the AMT can be puzzling. In some cases an individual might become subjected to the alternative minimum tax through one large item on their tax return such as interest they claimed on a second mortgage or a subtraction they took for state income tax. In some cases, even your deductions related to your dependents and your own personal exceptions could send you over the limit. One of the best ways to determine whether you will be subjected to the AMT is to have a professional prepare your taxes, use a computer program or fill out form 6251 if you are completing your return by hand.

Households with modest incomes ideally should not be subjected to the AMT. However, changes in the law over the years have authored situations in which this has happened. There have been calls for changes to the AMT to prevent this. As of yet, though, this has not happened.

Hire Rapid Recovery Solution as your <a href="http://www.rapidrecoverysolution.com/Collection_Company.html/">collection company</a> today. For information on any type of debt including <a href="http://www.rapidrecoverysolution.com/">commercial debt collection</a>, call RRS now! Get your own completely <a href='http://www.uberarticles.com/home.php?id=11447557'>unique content</a> version of this article.
Posted by JR Rooney at 3/30/2012 10:31 AM | Add Comment

When To Use A Debt Collection Company For Debt Collection: Advice For The Small Business Owner

With every small business comes the clients who have difficulty paying their bills. While some business owners may find that it just takes a bunch of emails and friendly phone calls to get the bill paid, without doubt a customer will come along who seems to pay no attention to all attempts at a debt collection call and who never responds to the bills sent to their home. When is the right time to hire outside help with the use of a debt collection agency? There are a few red flags and specific situations where a debt collection agency should be hired to aid in getting your money from your client.

If you find that a new client that you have never done business with before is ignoring all of your attempts in getting them to settle a bill, extra attention should be paid in collecting your money. Some people find companies that are too busy or do not have the resources to go after people who leave bills unpaid, and they often try to get away with getting a free product or service. If you have a new customer who goes anywhere from 30-60 days without any attempt on their behalf to settle their bill, then a debt collection agency should be used to get your money-as soon as possible.

Don't always fall for "the check is in the mail" routine with old clients. If you have clients who you've done business with in the past leave a bill unpaid after 90 days, then you should respectfully warn them that a debt collection agency is used in all cases of unpaid debt. If you still get no reply or payment, then outside help and the use of a debt collection agency may be your best bet. Just because a customer paid their bills in the past doesn't mean that they can ignore bills for however long they wish.

If you have a customer that complains about the service you performed or the product you gave them long after they received it, then that is another warning sign that your client is trying to avoid their debt. Generally if a client has a valid gripe, they will voice their concern as soon as it happens. If they only do so after months of your trying to collect a debt, then they may just be trying to get out of paying. In this case, a debt collection agency should be called to help push the customer into paying their bill.

A debt collection agency can be a great way for your business to collect the money it deserves. They can worry about collecting money (which is their expertise) while you spend your time on more critical matters. Even though there may be times where you don't need to use one, the red flags mentioned shouldn't be ignored and might be an indication that you need to contact one to help settle the debt.
Posted by JR Rooney at 3/23/2012 3:20 PM | Add Comment

How Can Your Business Collect?

What makes a business successful, you might ask? The answer is clear. Money. And when the going gets tough, businesses without invoicing and any system to collect debt tend to feel the pressure. It is a simple fact that any business that provides credit to its customers must send them a bill as soon as it is possible and have ways to ensure that accounts are collected on time.

First and foremost, any business needs a systematic way to ensure that its invoices are paid within its trading terms. This includes a record that needs to be signed, setting out the trading terms. These include when the company will invoice, when payment must be made, and what the repercussions of not paying an account by the deadline will be. Among these consequences might be an account keeping fee that is charged once an account is past due for a set amount of time, a hold being put on goods or services and a final deadline by which time the account will be sent to collections.

These trading terms should be signed and retained in the customer report. There will also have to be administrative systems in place to guarantee that the company's invoices are sent out according to its policy. Business owners should never let fear of losing a customer get in the way of having a debt collection policy that is efficient.

The next thing to focus on is a debt collection system that is centered on personal contact rather than statements and letters. Experience proves that collection is more efficient when customers receive phone calls instead of threatening letters. The first step is a telephone call to customers who haven't paid their bill within the terms that they signed. The phone call should be scripted and timely; within a few weeks of the account becoming late. From the beginning, the person making the call has to announce that there was nothing wrong with the services or goods that were supplied.

If there was, it should be addressed immediately and a new payment date should be agreed upon. If the bill is still not paid by the next deadline, make another call letting the customer know that the account keeping fee will be charged, and that if the account goes past the next deadlines, supply will end and collections will begin. As far as debt <a href="http://www.rapidrecoverysolution.com/Collection_Company.html/">collection companies</a>go, an company that works on a no collection, no fee policy is usually the best choice.
Posted by JR Rooney at 3/16/2012 11:01 AM | Add Comment
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