Accounts Receivable Management Featured Article

Some Municipalities Turn to Debt Collection Companies to Recover Fines and Fees and Boost Revenue

January 02, 2013

As towns, cities and other municipalities struggle with reduced budgets and trying to make ends meet with less, many are discovering that they do, in fact, have a revenue source to boost: collecting small fees and fines owed to them. These types of small debts – court fees, property fines and others -- are often ignored by municipalities, since they cost more to pursue than they are worth. Taken in aggregate, however, they can add up to big dollars for cash-starved town halls.

Increasingly, towns and cities are turning to professional debt collection solutions and services to recover money owed to them. Lee County in Northeast Mississippi is one of them.

According to a local Daily Journal article, “A firm to collect back-debts for garbage or justice court fees got Lee County’s approval Monday.” The article states that Lee County is looking to collect roughly $1 million in long overdue fees and fines from Lee County Justice Court.

Debt collection agency Rapid Recovery Solution is hoping to be the beneficiary of the county’s approval.

John Monderine, CEO of Rapid Recovery Solution, says he knows how important it is for small counties to collect large debts owed to them.

“It is great seeing a county like Lee County pushing forward to collect a large debt of $1million,” said Monderine. “This money is rightfully owed to them, and there is no reason why they should have to wait any longer to collect it.

By outsourcing debt collection services to a professional organization, counties can eliminate the need to boost manpower on their own payrolls chasing down small debts, and can instead recover most of what is owed to them with little effort on their own part.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Brooke Neuman

Article comments powered by Disqus

Related Accounts Receivable Management Articles

Invoiceware International Expands SAP Hybrid Cloud Service to Support Peru SUNAT

An important aspect of accounts receivable management (ARM) and the automation of all financial trnasactions of account management is e-invoicing. This is not just a challenge in developed countries but is global and touches a host of vertical markets. An illustration is the announcement by Invoiceware International, a leading provider in Latin America of electronic invoicing and fiscal reporting solutions, that it is expanding to support companies required by Peru's tax authority to rollout ele… [ Read More ]
02/25/2015

New York State Senate Bill to make it Illegal for Debt Collectors and Creditors to Use Social Media for Collections

I you are like me and saw a version of the headline above, you wanted to learn more. And, while the introduction in the New York State Senate of Bill 3803 has only its sponsor Senator Kevin Parker (D-Brooklyn) on it thus far and has gone to the Senate's Consumer Protection Committee where it faces an uncertain future to say the least, the consequences of this should it gain traction are enormous. [ Read More ]
02/24/2015

Top Image Solutions and Hanse Orge Partner to Extend Accounts Receivable Automation

Top Image Solutions and Hanse Orge have joined forces to create ARM solutions for ERP environments including SAP. [ Read More ]
02/18/2015

Noble Systems to Provide Contact Center Software for Gulf Coast Collection Bureau

Noble Systems is working with the Gulf Coast Collection Bureau on an accounts receivable management solution for healthcare providers. [ Read More ]
02/18/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!