Getting Debt Collection quotes is on the rise in the UK as is the use of debt collection agencies. The first Debt Collection quotes site in the UK was launched in 2013. Best4debtcollection.co.uk (Best4) was launched to marry creditors with suitable debt collection agencies.
Since its launch nearly 10 years ago, Best4 has helped thousands of Businesses and personal individuals recover what they are owed. They have introduced them to Professional Debt Collection Agencies that have helped them. The landscape for ‘debt collection quotes’ has altered since the pioneering platform of Best4. Now there are additional sites that claim to offer a similar type service. Bark are one such company although the emphasis appears to be on Bark benefiting from firms of debt collectors signing up to their quotes service and buying credits.
Whatever service you use, it is important that you are getting the best fit requirements for your needs. If you are looking to hire a debt collection agency then it is important to compare like for like. The challenge with the modern day debt collection industry is that there is no standard pricing policy across the board. There is no standard debt collection service so getting quotes for debt collection is not as straight forward as you may think.
Every debt collection agency has its own methods of pricing, fees and commission rates. This is factored into debt collection quotes. It is extremely important you remember this as it will come back to bite you if you don’t. One recent user of an unethical debt collection service claimed on a review platform that they barely got any money back at all for a £3,000 debt once the debt collection agency had deducted all their fees. The user had failed to read the small print and ambiguous contract text used. Underhand yes, illegal no.
This says more about the debt collection agency in question and their poor reputation echos this however, the letter of the law states that they were quite within their rights to do so.
If you are seeking quotes for Debt Collection services it is extremely important you remember a number of things. It is essential you compare apples with apples to coin the phrase. You also need to factor in the results you are looking to achieve. For the best results, you will need the best service.
The best service is never the ‘cheapest’. Cheap debt collection should never be an option as it can leave you in a worse place than you started. A Professional company will strive to be the best, not the cheapest. Think about it!
Advice on getting debt collection quotes
- Ensure the debt collection quotes you are given are ‘like for like’
- Is the debt collection agency a good match for your business sector
- Avoid dodgy ‘no win – no fee’ companies. They come with their own pitfalls in all aspects!
- Only work with approved, licensed or accredited Debt Collection Agencies. NEVER work with rogue, unlicensed Debt Collectors
- Read the small print and understand exactly what costs you will be liable for
- Check the reputation of the Debt Collection Agency
- What comes as part of the ‘standard’ debt collection service?
- Use only well established Debt Collection Companies
- Avoid firms who claim to be ‘award winners’ because they purchased an advertising title. Genuine awards are issued from recognized institutions
As with any type of Business service, cheap is not cheerful. A Debt Collection Agency will be an ambassador for your brand, business and reputation. Working with a Professional Debt Recovery solution can be of excellent benefit. Review platforms such as trustpilot can provide excellent insights into the reputation of a debt collection agency.
What should I expect from hiring a Debt Collection Agency?
You should expect transparency, professionalism and integrity. These attributes are rare commodities in today’s modern business world but they do still exist. You should know from outset what it is going to cost you or your business and be kept well versed on progress made.
A clear pricing policy and transparent costs philosophy is a sure sign that you are dealing with a professional service. A scour of a companies website and appropriate searches on google very often lay bare the reputation of a company. Key decision making factors when it comes to hiring a debt collection company.
The top Debt Collection firms will very often provide a free assessment of your case. This is to prevent you accruing unnecessary costs and themselves also. This is more prominent where a fully comprehensive debt recovery solution is provided.
If due intelligence is conducted at outset, this should manage your expectations. The simple fact that all debts are not collected. Sometimes, the debtor will simply have no funds to clear a debt. That is a fact of line., They may need a staggered repayment plan so it is always wise to be realistic about the chances of success.
As mentioned, for quality results, you will need a quality service. You get what you pay for an it is important to do your own due diligence. Reputations are not built in weeks or months, they are built over years of consistently delivering a professional service.
So if you are looking for debt collection quotes or debt recovery quotes, our simple handy tips should ensure you do it correctly. Apply common sense, diligence and research and you will soon find the best debt recovery service for your needs.