The Best4debt network, the UK’s leading provider for Debt Collection quotations and Debt Collector comparisons, has announced the launch of a new internet comparison site to accompany their existing main site best4debtcollection.co.uk
Best4debt has already many businesses and individuals across the UK in sourcing debt recovery companies relevant to their needs. They partner only the country’s leading professional debt recovery agencies and have already won credits from some top organisations.
Tony Smith Best4 Operations Manager said “In the modern age, a proficient Debt Collection company is seen by many as a far more cost effective weapon when it comes to tackling bad or later payers”
He adds “We have helped thousands of businesses recover their debt and we regularly receive positive feedback from our service users”
Whilst in today’s modern business world Debt Recovery is a more acceptable face of commercial credit control, with circa 400 Debt Collection Agencies in Great Britain alone, sourcing the right solution for a business can be a headache in itself.
Choosing the right Debt Collection Agency (DCA) to match the requirements is necessary if you are to realistically increase the return on a bad debt file and there are a considerable number of factors for consideration.
Some Debt Collection Agencies specialise in certain industries or sectors with some specialising in purely consumer debt whilst others cater for commercial debt only. There are a number who will deal with both.
There are many companies who will not consider taking small debts i.e. £100 whereas there are others who thrive in the small debt sector, tailoring their strategies and practices specifically to deal with these.
Larger Debt Collection Organisations will usually consider only sizable portfolios of debt.
Growth within the import and export industry has seen a steep increase in the demand for International Debt Recovery. From Austria to Australia, UK Debt Collection has had to go worldwide and there are a number of companies who can supply a service in this instance..
There also many other significant factors the instructing party will need to consider. Some DCA’s are far more robust than others with their practices and this can potentially alienate some customers in the future.
The fees structures employed by the Agencies will differ greatly also. There is the standard ‘no win – no fee’ brigade who quite often do charge fees and will require a far greater level of commission than the average agency for a higher level of risk as they see it.
There are some agencies that will charge a membership fee and others that are a bit more transparent and charge a nominal instruction fee. There is always of course still the Law firm option but this is considered by many to be too costly and less expedient than the direct course normally practised by a DCA.
Ensuring compliance within UK law is a major consideration and Best4 use only accredited licensed members of the Credit Services Association, the only Trade Association for Debt Collection in Britain.
This guarantees a level of professionalism and provides peace of mind for the instructing party. There is still a stigma attached to the term ‘Debt Collection’ and whilst this does not affect the judgement of many, there are still people in business who refrain from using a DCA on that basis alone.
The simple fact of the matter is by choosing the right Debt Collection Agency that matches you or your businesses needs, it will save you time, money and stress.
The new Best4 site Best4debtrecovery.co.uk was launched on the 13th of August 2014 and aims to be as popular as the existing site.
(source: best4debtcollection.co.uk/news )