Choosing A Debt Collection Agency
Choosing a debt collection agency
When you are seeking a debt collection solution it is essential that you apply due diligence.
There are over 400 Debt Collection Agencies in the UK so it pays to be diligent when seeking a debt recovery solution. You will find that only a small percentage can actually assist you or your business.
Debt Collectors come under different guises and it is important to know who you’re dealing with. ‘Illegal’ debt collectors still operate in certain parts of the UK, using threats, violence and intimidation as their means to collect debts. Not only is this illegal but can put the instructing person at risk of prosecution and retaliation from the debtor.
A licensed registered debt collector is the only option if you want to stay on the right side of the law.
Proving the pedigree and professionalism of a firm of Debt Collectors is quite easy. You should check the company to have the relevant licences and are ethical in their approach. More often than not they will be a Limited Company and you will want to ensure they have at least 5 years of trading under their belt to prevent yourself from becoming part of an elaborate fraud.
Choosing the wrong Debt Collection Agency can be a very costly mistake to make.
There are many kinds of Businesses operating out there and choosing the right Debt Collection Agency to work with will preserve your brand and achieve the type of realistic results you are looking for. Cheap is not cheerful in any line of profession however a cost-effective and professional debt collection agency will help maximise your profit margins and maintain your professional business standing.
Choosing a Debt Recovery Agency will be a key decision depending on your requirements. The bigger your requirement, the more due diligence you should apply. Compare apples with apples and understand what it is going to cost your business. Results matter, reputation matters and the cost also. Quality Services are not in large quantity so choose well.
Here at Federal Management, we are a typical example of a highly professional debt collection firm. We hold all the correct licences and have company accreditations by way of ISO9001, National Skills Academy and Investors in People. As a certifiable debt collection company, we are also part of the Credit Services Association. Choose the professionals used by the professionals, choose Federal Management.