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Choosing the right Debt Collection Agency

 

business debt collection tips

 

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 your 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 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 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 trading under their belt to prevent yourself becoming part of 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.

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 accreditation’s 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.