filed in Credit on Mar.11, 2010
The collection agency industry is a billion dollar industry. According to Rapid Recovery Solution, Inc. income from late fees and over-the-limit fees accounted for $14.8 billion dollars in the year 2004.
filed in Credit on Mar.11, 2010
The truth of the matter is, the more time that passes between the time the payment was overdue and the time the consumer is contacted, the less likely you are to get any sort of payment. If you’re serious about making money back, there are three ways to handle collection on past debt; in house efforts, hiring a collection agency, or taking legal action.
filed in Uncategorized on Mar.09, 2010
I sit at my desk completely frustrated with Advanta. I opened up a business credit card with them 3 years ago and made a purchase of $6500 to help build my business credit for Rapid Recovery Solution, my Collection Agency. I have paid more then the minimum every month, on time. About 3 months ago noticed that my interest rate seemed a little high. No where on my statement did it say the actual interest rate so I called the company. After 10 min or so I get a live rep on the line and they tell me it is 36.1%. Are they kidding, this must be a mistake. I have over a 750 score and never missed a payment. They said they sent me a notice in Aug that they are doing this due to a change in there lending methods. It turns out this is the second time this year they did this. I went from 8.99% in Jan 08 to 18.99 in Feb 08 to 36.1% in Aug 08.
filed in Credit on Feb.14, 2010
Many business owners feel unnecessarily alone as they try to run their businesses. They depend on their own book keeping methods, as they attempt to stay on top of all the other tasks that need completing by themselves. When it comes to debt recovery practices, it is important to understand that collection agencies are better able to recoup more of your past due monies quicker, more efficiently and professionally than you can on your own.
filed in Credit on Oct.04, 2009
Credit card is nowadays become an inevitable accessory of everybody. However, we do not know the best credit card that is available in the market. We do not know how to apply for credit cards online.