Best Collection Agency Review 2017
When it comes to finding a Debt Collection Agency comparing quotes is the key to getting a top product for the lowest price.
We’ve gathered information on the top 10 Collection Agencies, user reviews, buying tips, and made it easy to get the best price from companies in your area.
Before you purchase be sure to download a free in-depth Collection Agency buyers guide and get a side by side comparison chart. Simply tell us what your needs are (less than 1 minute), then download your chart to review litigation services, skip tracing solutions, and letter service options, and then you will also be immediately matched with local suppliers who will offer you competitive price quotes in minutes. Get Your Buyers Guide and Compare Prices Now
Top Collection Agencies Review 2017
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Review These Tips for Finding the Debt Best Collection Agency
In order to keep your business bustling, you need a positive and healthy relationship with your clients and customers. Unfortunately, you may encounter customers who fall behind in payments or simply don’t pay, but you don’t need to worry—a collection agency is a great option to recover your income and save you time and hassle. Finding the best collection agency for you is as easy as following these tips.
Find the Collection Agency that Best Matches Your Business
Does your company work with consumers, other businesses, or both? Collection agencies specialize, as well, so find one that has experience matching your needs. Businesses should always review a collection agency that fits their size and asks relevant questions such as does your business have a small local reach or is it part of a national or global economy? A small business will likely benefit from a local agency that knows the community, whereas a larger business with an international market needs an agency with the capacity and resources to cross borders.
How long the debts have been outstanding and how current your customer’s contact information is will also help you isolate a collection agency best suited to your situation.
A Review of How to Best Maximize Net Profit from Your Debt Collectors
You want the best possible return on your investment in a collection agency, and each agency will have a slightly different fee system. Find out from each agency both their average percentage of return (how many debts they successfully collect) and their commission rate from each collection. A higher percentage of return means more overall recovered debt, while a lower commission rate means the agency takes less of a fee from the recovered debt.
Don’t simply choose one with the highest return or lowest commission rate (though those still might end up being the best for you). Be sure to actually run the numbers for your business when it comes to the total amount of debt and the number of individual accounts you plan to give to the agency. Finding the best agency for you is an individual, largely mathematical choice.
Collection Agencies For Small Businesses Help You Keep Customers
The best collection agency in the review process will not only help you recover debt but can potentially help with customer satisfaction ratings. Finding agencies that are fully licensed, train their employees for customer service, and follow the rules of the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA) will reflect well on your business. Finding a collection agency that carefully follows the legal guidelines of debt collection demonstrates your dedication to a positive relationship with your customer and keeps you out of any legal trouble.
Finding the best collection agency for your business is a personal and financial choice that helps you recover debt without losing valuable time and manpower. Use these tips to partner with a collection agency that really fits your business and gets you your hard-earned income!
Final Suggestions For Review Process:
Ask About Collection Letter Services: Some debt collection firms will mail out several letters to the debtor, each one becoming more aggressive as to the ramifications of ignoring the letter.
Understand Litigation Options: Find out if the collection company has a network of attorneys that will be used to help you recover the bad debt. If legal action becomes necessary this may be of value.
Review Skip Tracing Solutions: Skip tracing is the process of locating a person’s whereabouts for any number of purposes, but generally for the purpose of recovering debt. The collections agency should have access to software to find any individual who may have skipped town or is hiding to prevent paying their debt.