How do I select a debt collection company?

Do the research - you need to ensure you are using a reputable company that has the skills and know how to re-coup the funds you are owed. Here are a few steps to follow to help you make the right decision:

  1. Select a couple of different collections firms (2-3) that you think could be right for the job. You should be able to make this decision by doing some research on the internet.
  2. Talk to the agencies you have selected. At this stage of the process it's important that you ask the right questions - you want to know about their recovery rates, their experience with your industry (if they have any) and how their fee structure works.
  3. Select the agency that is right for you. You know your business better than anyone and accordingly, you know the problem you are trying to overcome and how serious it is. Make your decision by weighing up which collections agency is likely to overcome your issues in the most efficient and effective manner.

The benefits of outsourcing your debts:

  • receive more cash sooner
  • focus on core functions
  • reduce operating costs
  • reduce exposure to regulation and technology risks.

Find out more about D&B's debt collection services at dnb.com.au >>

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