How To Choose The Right Debt Collection Agency
Choosing the right debt collection agency can be a daunting task, as there are many options available.
Facing the issues that come with not being paid on time is stressful enough and you’ll be looking for a simple solution quickly with minimal disruption.
Here are some factors to consider when selecting a debt collection agency that will ensure the best chance of your debt being successfully collected.
The reputation of the debt collection agency
Look for a debt collection agency with a good reputation in the industry.
The best way to do this is by finding out what others are saying about particular debt collection agencies.
Finding reviews and ratings online will give you the best idea of what other people who’ve used the services of a debt collection agency think of the service they’ve received.
Darcey Quigley & Co have a 5 star Trustpilot rating!
Take a look at our recent reviews:
Experience
Choose an agency with experience in collecting debts in your industry.
Different industries have different regulations and requirements, so an agency with experience in your industry is better equipped to handle your debt collection needs.
We’ve been recovering debts from all industries for over 16 years, collecting hundreds of millions of pounds from all over the world.
There is not a case we have not come across or an excuse for non-payment that we haven’t heard before.
Recovery rate
Look for an agency with a high recovery rate. The recovery rate is the percentage of debts collected by the agency. A higher recovery rate indicates that the agency is more effective in collecting debts.
Right now, we have a 93% success rate in recovering overdue invoices for our clients!
Fees
Consider the agency’s fees and charges. Some agencies charge a flat fee while others charge a percentage of the debt collected. Look for an agency with transparent fees and no hidden costs.
Our fees are transparent and start from just 3% of your invoice value, plus we operate on a no win no fee basis. This means you only pay when your overdue amount is successfully recovered.
Plus, thanks to The Late Payment of Commercial Debts Act you’re legally entitled to claim interest, compensation and debt recovery costs on top of your overdue amount.
Here at Darcey Quigley & Co we always strive to recover these costs from your debtor on your behalf meaning in many cases our clients actually get free commercial debt recovery.
Find out how much late payment interest, compensation and debt recovery costs you’re eligible to claim with our free calculator!
Communication
Choose an agency that communicates well and provides regular updates on the progress of debt collection.
Communication is essential to ensure that you are informed about the status of your debt collection.
Take action on your unpaid invoices
By considering these factors, you can choose the right debt collection agency that meets your needs and helps you recover your outstanding debts.
This article should have explained why you don’t need to look any further than Darcey Quigley & Co when it comes to recovering your unpaid invoices.
If you’re facing difficulties with unpaid invoices our best advice is to act quickly, especially against the backdrop of rising company insolvencies!
Schedule a call with our commercial debt recovery specialists today.
Meet our credit management and commercial debt recovery content writer, Declan!
With a keen eye for detail and a passion for educating others, Declan is committed to creating informative and engaging content that empowers readers to get a firner grasp of their credit control to improve their cashflow.
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