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

Esker Partners with Cosucra to Enhance Accounts Payable

Esker, a developer of document process automation software, recently announced that it has partnered with Cosucra, a Belgian natural foods supplier, to improve Cosucra's vendor invoicing. [ Read More ]
03/30/2015

Kern Pharma Cuts Order Processing Time in Half with Esker Document Process Automation

One of the big areas for business process automation is order management. For those in the accounts receivable management (ARM) sector this is big for obvious reasons. If you can't keep track of and have easy access to orders it is impossible to account for their payment. Plus, in large organizations that process thousands of orders, a premium is on cutting order response times to help expedite times for getting paid. The saying that these go "hand in glove" is extremely relevant. [ Read More ]
03/30/2015

FilmTrack and Intacct Form Partnership

FilmTrack, already one of the leading companies when it comes to contract and rights management solutions, announced last week that the firm has partnered with Intacct. Intacct is one of the leading providers of cloud-based financial management and accounting software. With the newly forged partnership, the two companies will be able to offer clients a seamless and integrated solution for managing intellectual property. [ Read More ]
03/30/2015

Unifund Continues Expansion with Acquisition of FRIC

Unifund Group, a debt buyer and portfolio servicer (aka debt collector), recently announced that it has finalized its acquisition of First Resolution Investment Corporation (FRIC), a provider of administrative support services. This agreement is the next step in Unifund's long-term growth plan and will enable the company to work with consumers in a more mutually-beneficial manner as well as serve its clients better and ensure that debts are adequately repaid. [ Read More ]
03/24/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!