Accounts Receivable Management Featured Article

Rapid Recovery Solution Assists Transit Service in Collecting Unpaid Fares by Delinquent Riders

November 07, 2012

Rapid Recovery Solution, a debt collection agency, is set to crack down on delinquent transit riders.

The company has released a statement following a Vancouver Sun article by Christopher Reynolds about a transportation service using collection agencies to crack down on riders not paying their fare.

“The transit authority is making use of its new powers to collect overdue fines, putting out a request for proposals from ‘collection services’ so it can flex the muscle it gained when provincial legislation came into force in September,” according to the Vancouver Sun article.

Several collection agencies will be hired to collect fares that are unpaid after 90 days.

TransLink spokesman Drew Snider said, “Resorting to a collection agency makes more sense than employing TransLink staff, who don’t have the time or training to obtain unpaid fines from riders.”

TransLink apparently estimates it lost about $15 million to fare evaders, and hiring a collection agency could bring back about $4 million a year.

John Monderine, CEO at Rapid Recovery Solution, stressed the importance of a collection agency for any type of business. “The debt collection industry is proving once again that it is a necessary part of any business. With trained staff, we have the ability to return you more money at less cost than you can do on your own. Rapid Recovery Solution would love to be considered for this task,” he said in a statement.

Established in 2006, Rapid Recovery Solution can be found at the highest point of Long Island. The collections agency is committed to recovering deserves funds, holding that every debtor is capable of paying if motivated correctly and morally.




Edited by Braden Becker

Article comments powered by Disqus

Related Accounts Receivable Management Articles

Ohio Society of CPAs Names TekCollect Preferred Solutions Partner for Accounts Receivable Management

Ohio Society of CPAs selects TekCollect as preferred solutions partner for Accounts Receivable Management (ARM). [ Read More ]
07/02/2015

Metafile Information Systems and WennSoft Form Partnership for Paperless Solutions

Two organizations that specialize in providing paperless solutions and streamlining operations have formed a strategic partnership to bring their technologies together to deliver new and improved paperless capabilities. [ Read More ]
06/30/2015

RevSpring Launching New Technology Platform at HFMA ANI Conference

While no vertical market wants to be a laggard when it comes to engaging their customers and encourage them to pay promptly, few have had the challenges of the healthcare industry. As all of us who are on the patient side of things are aware, to say the least, the record keeping on a host of issues ranging from personal information privacy to compliance to insurance to payments at times can seem baffling, and this is even more so for the provider side of things. [ Read More ]
06/24/2015

FCC Affirms New Telephone Consumer Protection Act's (TCPA) Protections, Industry Concerns Remain

On 3-2 vote FCC affirms updates to TCPA protections, industry concerns remain as it awaits decision language. [ Read More ]
06/23/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!