Collecting funds might not be the easiest task for companies and this is especially true for one state in particular. In recent times, Baton Rouge, Louisiana has had some problems with attaining money owed and is working on implementing new methods. A collection agency, above all else, should be able to gather money that is needed for any client, though legalities should be taken into account. Even if the end result isn't met easily, Louisiana is making certain that necessary changes are made.
Businessweek.com stated that the source of the problems in debt collecting for Louisiana can possibly be found in the lack of any centralized collection agency. What this means is that there's no one to regulate the money that circles through and large amounts are gone unpaid by people as well. Specifically, more than $1.4 billion in debts have not been paid and the state of Louisiana is the sole victim. A robust collection company along the lines of R-R-S has to be hired in order to lessen the problem, at least, but what other ideas can the state put to use?
Businessweek.com also spoke about Representative Chris Broadwater, who sponsored a concept that would be able to pay off these debts, at least to a certain degree. The idea listed was called the two-year pilot program. For those who don't know, this idea says that the state would be able to either auction or sell pieces of long-standing delinquent accounts. Cash would be gained upfront and that would be put towards the money owed in this circumstance. The process may be slow but it's a start to amend Louisiana's massive debt.
The issue that I have when it comes to Broadwater's idea is that it seems like too much of a solution that's short-term as opposed to long-term. The amount of funds that total over $1.4 billion is far too substantial and an issue like this simply can't be solved in a timely manner. It's a problem that requires a great amount of time. My concern is that those who live in Louisiana are going to feel a tremendous brunt as well, not just those who are in debt but those who are not.
Louisiana has a tremendous debt situation under its belt, especially when you think about the constantly growing $1.4 billion and counting amount of unpaid receivables. Louisiana's structure is partially to blame, since there is no focused agency to regulate the amounts the way that they should be. Louisiana's own people suffer because of this and there's truly no solid plan at all. Perhaps in time, these representatives will dispense good news on behalf of Louisiana's troubled citizens.
Businessweek.com stated that the source of the problems in debt collecting for Louisiana can possibly be found in the lack of any centralized collection agency. What this means is that there's no one to regulate the money that circles through and large amounts are gone unpaid by people as well. Specifically, more than $1.4 billion in debts have not been paid and the state of Louisiana is the sole victim. A robust collection company along the lines of R-R-S has to be hired in order to lessen the problem, at least, but what other ideas can the state put to use?
Businessweek.com also spoke about Representative Chris Broadwater, who sponsored a concept that would be able to pay off these debts, at least to a certain degree. The idea listed was called the two-year pilot program. For those who don't know, this idea says that the state would be able to either auction or sell pieces of long-standing delinquent accounts. Cash would be gained upfront and that would be put towards the money owed in this circumstance. The process may be slow but it's a start to amend Louisiana's massive debt.
The issue that I have when it comes to Broadwater's idea is that it seems like too much of a solution that's short-term as opposed to long-term. The amount of funds that total over $1.4 billion is far too substantial and an issue like this simply can't be solved in a timely manner. It's a problem that requires a great amount of time. My concern is that those who live in Louisiana are going to feel a tremendous brunt as well, not just those who are in debt but those who are not.
Louisiana has a tremendous debt situation under its belt, especially when you think about the constantly growing $1.4 billion and counting amount of unpaid receivables. Louisiana's structure is partially to blame, since there is no focused agency to regulate the amounts the way that they should be. Louisiana's own people suffer because of this and there's truly no solid plan at all. Perhaps in time, these representatives will dispense good news on behalf of Louisiana's troubled citizens.
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