Find the Best Debt Collection Agency Near Me

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When someone owes you money, your first thoughts will be on how you can recover it.

There are a lot of reasons why someone might be in debt to you, some common examples include:

• A client has not paid for work you have completed
• Someone you loaned money to in good faith will not repay you
• You may have sold something to someone in another country who has not paid
• Your business has overpaid an ex-employee, who now refuses to give the money back

Regardless of the reason, the solution is the same – you need to recover the money.

There are many ways in which to do this, and understanding each option can be the key to successful recovery.

The best option is to instruct a professional debt collection agency.

This is the lowest cost and fastest way to recovering your money.

With this in mind, the next question is “who should I use?”.

In this article, our in-house team of debt collection experts explain what you should look for from an agency.

If you are asking yourself, “who is the best debt collection agency near me?”, read this article for more information.

Debt Collection Companies

A debt collection agency is the best choice for recovering unpaid debts.

Other options such as debt collection solicitors can be effective under the right circumstances…

…but usually comes at a very high price – both in time and money

Some people also attempt to collect a debt by themselves.

This method can be effective but can be another costly way to collect a debt with no guarantee of success.

As well as this, emotion can come into play, and conversations between a creditor and debtor can become heated.

Debt collection companies provide an effective solution for recovering money that someone owes to you.

No two debt collection companies are alike and knowing the qualities to look for in one is important.

Choosing a debt collection agency is a big decision.

The company you choose will act on your behalf to recover your debt.

With this in mind, you want the best company available for the task.

Debt Collection Agency Near Me – What to Look for

“What is the best debt collection agency near me?”, is a question we get asked every day.

Best4DebtCollection provides the UK’s leading debt collection agency comparison service.

We help to find the best debt collection companies for any unique circumstance.

To answer this question, it is better to look at how we approve debt collectors as one of our recommended partners.

We follow a strict process to ensure that we are comfortable recommending them to our clients for each one.

Here are the main qualities we look for in each one of our recommended partners.

Reputation and Professionalism

The first thing to consider when you are looking for debt collection companies is their professionalism.

As we have already mentioned, you would not want anybody recovering debt on your behalf.

Instructing a low-quality debt collector can cause more problems than someone owing you money.

Many ‘bad’ agencies will use tactics that are too heavy-handed or aggressive, and this can land the person who instructed them into hot water.

To ensure that we only recommend the best agencies possible, our team conduct a thorough assessment of any company in question.

When you are looking for debt collection companies, you should take the time to research what their clients say about them.

Sites such as Trustpilot or Google are very useful to do this, as they provide an impartial platform where people can leave feedback and reviews.

Choosing the right agency to collect your debt is critical, and taking the time to look into your shortlist will help to make things easy.

As well as this, you should only choose agencies that a recognised entity regulates and has accredited.

An example of this could be the Financial Conduct Authority (FCA), or Credit Services Association (CSA).

How Effective are They? Debt Collection Recovery Rates

One of the most important things to look for with debt collection companies is how effective they are.

Most debt collection agencies list their average recovery rate on their website.

The average debt recovery rate indicates how effective the agency in question is at enforcing debt collection.

Any 90% or above rate is a marker of a good quality agency, and all the debt collection companies we recommend need to achieve this.

As well as this, it is a good idea to confirm this rating with the comments found on review websites.

If a debt collection agency shows high recovery rates on their site but has a lot of poor reviews from disappointed clients…

…there is a high chance that they are putting misleading information on their site to draw in new clients.

Debt Collection Costs – What are their Prices?

One of the biggest points in any decision-making process is the cost of the service you are interested in.

This even more important when looking at debt collection companies as some factors may not be immediately clear.

For instance, many debt collection companies promise ‘no win, no fee’ type deals.

Whilst this may sound promising, it is a tactic.

This is designed to lock clients into lifetime contracts, with heavy-hitting hidden fees.

Other agencies may quote prices well below that of competitors…

…only to then later add many smaller charges on continually until the amount is greater than what others originally quoted.

This method is known as ‘drip pricing’.

The best agencies to choose from will base their pricing on the debt itself.

No two debts are the same, and each one must be judged on its own merits.

As such, to get the best price you must speak to a debt collection expert.

The agencies that we recommend have all demonstrated that they do not use deceptive pricing structures.

Each one operates in as transparent a manner as possible, letting their clients have a clear idea of pricing at the beginning of all agreements.

Every agency we recommend also provides a free pre-action assessment of the debt.

This will provide you with a clear idea of the cost to recover the debt, but also the likelihood of its recovery.

Debt Collection Agency Near Me – Finding the Right Company

For help choosing the best debt collection agency, complete our web form today.

Our service is completely free, provides a no-obligation assessment and is open to anyone.