Financial Planner Articles

Last month, Manuel and Luz Fausto won one of the largest collection awards documented in the last couple of years under the Fair Debt Collection Practices Act (FDCPA) against Credigy Services Corporation. A California jury awarded the Faustos $500,000 in damages stemming from harassment by Credigy collectors. Of the sum, granted $100,000 was for actual damages the Faustos experienced, while $400,000 was in punitive damages, granted for malicious and reckless disregard of the couples rights. According to one of the Faustos lawyers, David Humphreys of Humphreys Wallace Humphreys, P.C., and the case stemmed from a debt on a Wells Fargo charge card opened in 1992.

If you’re aspiring to cut setbacks in your small business to try and improve cash flow, then chances are you haven’t even entertained the idea about employing a third party debt collection agency. After all, if you’re attempting to cut back costs do you really need another expense? The trouble with many small business owners is that they have their thinking turned the wrong way around.

I have been working for Rapid Recovery Solution for two years now. RRS is a Collection Agency that does things a lot different then other agencies I have worked for in the past. How do they do thing differently you ask?