Hiring the best collection agency is critical for any business. It’s a partnership that must be handled delicately and tactfully – you want an agency that will fight to recover funds without tarnishing your company’s reputation or being too aggressive in their tactics. Ask for references, and do your research to find an agency that fits your needs.
How serious is debt collection?
Make sure the agency you choose is licensed and bonded in your state and any states where customers live. Check with your state’s office of financial regulation or consumer affairs to see if there are any complaints against the agency you’re considering. You can also check with the Association of Credit and Collection Professionals, or ACA International, to find a list of reputable agencies. Source : breyta.nl
Lastly, be sure to understand how much it will cost to use an agency before you sign a contract. Some may charge upfront fees, while others work on a contingency rate – meaning they’re only paid if they collect money from your unpaid accounts.
Finally, make sure your agency has a good industry presence and extensive compliance expertise. This will help ensure they’re following the latest regulations and using ethical methods to collect on your behalf. If they don’t, you could end up in a legal mess that will cost more in the long run.