How To Choose A Debt Collection Agency

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Are you a business or private individual that has been hit with the difficulty of someone who is not paying you? Unsure of the steps required to ensure you are paid the money that you are owed?

In this article, the team of expert Debt Collectors at Best4DebtCollection have put together a guide and tips on “How To Choose A Debt Collection Agency.”

It is important to remember that you are not alone in this situation, as the occurrence of unpaid debts is unfortunately a common problem for businesses and individuals alike.

Due to the important and sensitive nature of this situation, it can feel quite overwhelming when you are first hit with someone who owes you money. It can leave you feeling angry or distressed, with no real thought of how to choose a debt collection agency.

The only solution for the collection of an unpaid debt is to instruct the services of a professional Debt Collection Agency.

How To Choose A Debt Collection Agency

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The hassle-free way to compare debt collection quotes from the best agencies and collectors in the UK right away

How To Choose A Debt Collection Agency – What Makes A BAD Company?

Whilst the majority of Debt Collection Agencies operate in a professional manner, there are unfortunately a collection of “bad” agencies that may catch you out.

This is the last thing you will want to experience when figuring out how to choose a debt collection agency.

There are a few key points to watch out for when it comes to the process of instruction, with some of the common traits of a bad agency being:

  • Poor or no reviews from clients
  • Price drip fees
  • Extremely high commission rates, with little demonstration of high recovery rates
  • A lack of accreditations
  • Abortive fees (being charged even if the collection of money is unsuccessful)

If you are not careful, and end up being caught out by one of the “cowboys” of the industry, this can be extremely costly to you and your business.

You are already owed money, so why do companies think that they can charge extortionate prices to get your money back?

Now that you are aware of the traits of a BAD organisation, here are 4 tips on how to choose a Debt Collection Agency. This will ensure you get only the best service possible.

4 Tips on How To Choose A Debt Collection Agency

Take Time To Research The Company

The most important tip we have for instructing a Debt Collection Agency is to do your research beforehand. This can be done by having a thorough look at the company’s website and online presence.

If the organisation has a well-developed website and a good online social media presence, this will provide you with some clarity that they are the “real deal”. You only have to look at our partners to see an example of this.

Online Reviews

An obvious thing to look for when searching for a Debt Collection Agency is their online reviews. If you are met with a Trustpilot page that is full of negative reviews, then it is best to stay clear.

All of our partners have extremely positive reviews online, with over 4 ½/5 stars across all review platforms.

Accreditations

Accreditations are a large part of what puts together the picture of “trust” when It comes to instructing an agency.

Do they have any awards? Are they part of member organisations such as the Credit Services Association? Are they authorised by the Financial Conduct Authority?

If they have any of the above, this will shed light on whether or not the company will provide a compliant service to you.

Get In Contact With The Debt Collection Agency

If you are unsure as to whether or not the company you are looking at is trustworthy, it is worth picking up the phone to speak to them directly.

This will give a good indicator as to how the company works, how they communicate, what the process of debt collection is etc. You may be able to get a feel for the company just by this simple conversation.

The tone of the person on the other end of the phone will make it clear to you whether or not this agency will provide you with a complete solution to your situation.

How To Choose A Debt Collection Agency
How To Choose A Debt Collection Agency – Struggling to work out the best debt collection agency for you? Read our article to find out how

The Options – Using A Debt Collection Agency

As a result of the information provided above, you should hopefully feel more at ease with knowing how to choose a debt collection agency.

Regardless of where you are in the UK, in places from Swindon, Wolverhampton or Edinburgh, a debt collection agency can help.

At Best4DebtCollection, our service is dedicated to providing the best recommendations for all types of Debt Collection. To assist with the process, we have put together a list of the best agencies to instruct.

We have dealt with lots of clients that do not know how to choose a debt collection agency. All of the partners that we have recommended are all industry experts in the collection of Commercial, Private and International Debts.

How To Choose A Debt Collection Agency

Get the Best4 Debt Collection Quotes Now

The hassle-free way to compare debt collection quotes from the best agencies and collectors in the UK right away

Business Debt Collection

If you are responsible for finances, or work within the credit-control team, for a business-to-business organisation, then you will unfortunately face a late or non-payment at some point.

When this happens, our recommended Commercial Debt Collection Agency is Federal Management.

Since 2004, the award-winning team of debt collectors at Federal Management have recovered millions on behalf of unpaid debts.

The pragmatic, pro-active and professional service that is provided is the best in the UK, with industry-leading collection rates and low commission rates.

Some of the benefits of instructing them to collect your business debts are:

  • Award-Winning Debt Collection Agency.
  • Authorised By The Financial Conduct Authority.
  • 24/7 Online Access To Accounts.
  • FAST TRACK Recovery, Same Day Action.
  • No Collection – No Commission or Costs To Pay.

If you are unsure on how to choose a debt collection agency for Commercial Debts, Federal Management are the right match for you.

Private Debt Collection

There are a large number of scenarios where Private Debts can occur, with some being more personal than others. We have worked with clients that have been owed money by customers, friends, family members and even partners.

For the collection of Private Debts, we recommended Frontline Collections.

Throughout their long history, they have worked across a wide range of sectors, with their services commonly being carried out for Independent Schools, Nurseries, Dental Practices and Veterinary Practices.

As part of the award-winning Debt Collection service they provide, Frontline Collections offer:

  • High Collection Rates and Low Commission Rates
  • On Avg. 90% Recovery Rate on Undisputed Debts
  • Members of the Credit Services Association
  • Over 15 years industry expertise in most private sectors

They are also the only Private Debt Collection Agency in the UK that is a “Gold Preferred Supplier” with the Independent Schools Association.

International Debt Collection

If you are owed money from someone overseas, this can make an already unpleasant situation even worse. However, do not let this distress you, as our partners have all of the tools and training required to tackle the obstacles brought by debts on an International scale.

The partner that we recommend for this is Frontline Collections.

They are the UK’s No1 Debt Collection Agency for the collection of International Debts, with a team of professionals with over 100+ years combined experienced across the business.

As part of the highly efficient and effective International Debt Collection service they provide, they offer:

  • Fully inclusive low-cost service
  • FREE initial assessment & investigation
  • Proactive and Professional approach
  • High Overseas Debt Collection Success Rates
  • International Network of Trusted Agents

How To Choose A Debt Collection Agency

Get the Best4 Debt Collection Quotes Now

The hassle-free way to compare debt collection quotes from the best agencies and collectors in the UK right away

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