The CEO of Rapid Recovery Solutions comments on an article published by The Guardian which discusses the concept of “Rolling Jubilee”.
Bohemia, NY (PRWEB) November 19, 2012
On November 19, the CEO of collection agency Rapid Recovery Solution responds to an article published by The Guardian concerning a concept called “Rolling Jubilee”.
The Guardian article reports, “A new initiative is [re-energizing] the Occupy movement. Called the Rolling Jubilee, it is a plan to use money from donations to buy distressed consumer debt from lenders at a marked down price, just as debt collection agencies normally would. But instead of hounding debtors for payments, it will simply cancel the debts. The hope is that the liberated debtors will themselves contribute to the fund, ‘rolling’ the jubilee forward.”
The article goes on to explain that “[T]he Rolling Jubilee has significant transformative potential. Two pillars uphold the present debt regime: the moral legitimacy of debt in society's eyes, ie, the idea that a person ‘should’ pay back what he owes; and the coercive mechanisms that enforce repayment, such as harassment, seizure of assets, garnishment of wages, denial of employment or housing, and even imprisonment. The Rolling Jubilee erodes both.” According to the article, the enforcement of “Rolling Jubilee” helps debtors by recognizing their difficult situation and attempting to help them. The article explains that the idea behind “Rolling Jubilee” is simply to help free debtors from the debt that they’re struggling to pay.
John Monderine, CEO for collection agency Rapid Recovery Solution, applauds the concept and states, “This is absolutely genius! The people need to be bailed out and this is a perfect way to accomplish this. If I can help the movement, don't hesitate to contact me.”
The article goes on to express that this new concept offers a solution. “The next time a systemic crisis breaks, central banks can rescue the banking system by once again buying the delinquent loans – and then cancel them or reduce the amount borrowers owe,” The Guardian reports.
Founded in 2006, RRS Collection Agency is located at the highest point of peaceful Long Island. Rapid Recovery Collections Agency is committed to recovering your funds. We believe that every debtor has the ability to pay if motivated correctly. We DO NOT alienate the debtors; we attempt to align with them and offer a number of ways to resolve not only your debt but also all their debts.
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For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/11/prweb10139650.htm
This article (Collection Agency Rapid Recovery Solution Offers a Response to an Article Explaining “Rolling Jubilee”) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
