Five Tips for Hiring a Debt Recovery or Debt Collection Agency. While there are smart ways to avoid the debt collection process, sometimes you have to hire a professional. After all, you have your business to run and dealing with delinquent accounts can be draining on your resources, time, and patience.
That said, not every debt collection agency is created equal and not every agency is right for your unique business. Here are a few things you should consider when selecting a partner in the process.
- Do the Research
- Verify the Agency’s Legitimacy
- Ask if the Agency Uses “Skip Tracing”
- Make Sure the Agency has Insurance
- Compare Fees and Contingency Costs