Debt Collectors UK – Finding the Best Agency

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As with any other service-led business, there are many options for those looking for debt collectors UK.

A quick internet search for ‘debt collectors UK’ will provide thousands of options.

Knowing which collector to choose can be a time-consuming and challenging task in itself.

With a sensitive subject like debt recovery, you should always aim to get the best service possible.

Any debt collection expert will tell you that no two recovery agencies are the same.

Opting to use a poor or disreputable agency can often cost a lot more than the value of the debt itself.

Knowing what to look for amongst debt collectors UK is crucial.

Our team of debt recovery experts have written this article to help businesses and private individuals.

It outlines the qualities that make a great debt collection agency and should help you work out who to choose.

Debt Collection Agency UK – Accreditations and Awards

Choosing a debt collection agency is one of the most important tasks for anyone looking to recover money.

The agency which you choose will be acting as an ambassador for you or your business.

If any part of the collection process is done incorrectly or inappropriately, this will reflect badly on you.

For a business, this can be very costly.

For example, many disreputable and low-quality agencies may use heavy-handed or aggressive tactics to collect a debt.

This will only serve to destroy an existing business relationship and ruin all chances of future opportunities from that particular debtor.

A good debt collection agency will be regulated or accredited. This could be from an organisation such as the Financial Conduct Authority (FCA).

Another example of a regulated would be the Credit Services Association (CSA).

If an agency is regulated, it means that they operate well within the boundaries of what is legally and professionally appropriate.

If a debt collection agency is regulated and accredited, it is a good sign that they will provide a professional and effective service.

Many industry-specific awards are also given to specialist debt collectors.

An award such as this recognises that a debt collection agency is a specialist within that sector.

An example of this would be the Independent Schools Association (ISA) ‘Gold Preferred Supplier’ award.

Debt Collection Companies UK – Reputation is Important

As well as awards and accreditations, it is important to do proper research of an agency’s reputation.

This can come in many forms, and one of the best ways to measure a debt collector’s reputation is to look at client reviews.

Whilst most businesses have some kind of testimonial page on their website, this may not be reliable.

Look for feeds from impartial third parties, such as Google, Trustpilot or Yell.com.

Sites such as these exist to provide potential clients with an accurate idea of who they are looking at dealing with.

In the case of debt collection agencies, you must take time to find reviews from clients and not debtors.

For many debt collection agencies, disgruntled debtors who have received a collection notice to pay will lash out at the agency.

This often takes the form of a 1-star review on a rating website.

Finding reviews from clients will give you a clear idea of what to expect from a debt collection agency.

If there is an overwhelming number of positive feedback, then it can be safely assumed that the agency in question is reputable and trustworthy.

Debt Collectors UK – Results and Costs

As well as accreditations and reviews, one of the most important qualities to look for in a debt collection agency is their results.

A debt collection agency’s recovery rate is an excellent indicator of how effective they are.

This rate helps potential clients to understand how effective and successful that firm’s service is.

As well as this, you can research the results of a potential debt recovery option by once again looking through client reviews.

If there are a lot of negative comments about speed, service or outcomes, then it might be better to avoid that particular agency.

As well as results, another important factor to look into is the cost of instructing a debt collection agency.

There are many different pricing structures, and you must conduct thorough research before committing to any course of action.

Many agencies will undercut their competition to win business. Whilst this might seem promising, it is usually a front for heavy hidden costs later on.

Also, ‘no win, no fee’ is rarely as good as it sounds, and if they recover a debt it is usually difficult for the client to get the full amount back.

Debt Collectors UK – Finding the Best Agency

Finding the best debt collector can be a time-consuming task.

With such an important decision, those searching should take proper care and attention.

Best 4 Debt Collections provides the UK’s longest established and leading debt collection agency comparison service.

By filling in the quick web form on our website, you can get the best quotes from leading agencies across the UK.

As such, we only recommend options that meet our strict criteria.

To find the best Debt Collectors UK, complete our web form today.

This service is 100% free and open to anyone, regardless of if you are a business or a private individual.

Debt Collectors UK – Frequently Asked Questions