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

EGS to Sell Part of Accounts Receivable Management to Platinum Equity

To increase focus on its core business segments and services, Expert Global Solutions (EGS) is selling certain segments of its Accounts Receivable Management (ARM) business to Platinum Equity, a Los Angeles-based private equity firm specializing in business operations. The dollar value of the transaction has not been disclosed yet. The sale of Transworld Systems, Inc. will include Transworld Systems, Education, Attorney Network, Healthcare Bad Debt, Government and U.S.-based Third Party Collecti… [ Read More ]
07/17/2014

e2b Teknologies Wins New Customer for its Anytime Collect Solution

e2b teknologies, publishers of Anytime Collect accounts receivable management software, has recently won a new customer for its Anytime Collect for automated QuickBooks accounts receivable management. The name of the company has not been disclosed. [ Read More ]
07/17/2014

Protiviti: Internal Auditors- Be Relevant

Internal audit has undergone much change over the years and it doesn't appear that that trend is going to vary. Protiviti, a global business consulting and internal audit firm, has just released its tenth anniversary edition of internal auditing to help internal auditors come to grips with the changing scenario. [ Read More ]
07/09/2014

C2C Resources Promotes Accounts Receivable Automation Process

Atlanta-based accounts receivable solutions provider, C2C Resources is involved in collecting commercial debt on behalf of their over 20,000 clients and is considered one of the top agencies in the country. The company's portfolio includes solutions like Profit Maximizer, InfoMax Collection System, and Legal Forwarding Edge, which can help companies to be more effective with their own in-house collecting and maximize recovery of accounts turned over for collection. [ Read More ]
07/09/2014
FREE Accounts Receivable Management enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!