Client relationships are of the greatest importance to (most) businesses, so the decision to hire a debt recovery agency can be a tough one. You don’t want to damage these relationships or your reputation however you also don’t want to have a shortfall of cash every month.
There are many types of agency out there; some will only work with companies that pass them a high volume of accounts, like banks or utility companies others, known as debt purchasers; buy the outstanding debt and client details from you (usually at a substantially lower amount than it is worth). They then go on to collect the debt themselves, often collecting far more than they paid for it.
There are then the specialist debt recovery agencies, like Commercial Domestic Investigations, which understand how a business operates and can offer a tailor-made service to ensure the highest level of professionalism and to make sure that your client relationships remain intact.
Making a decision
Finding the best agency for your business can be tricky, as with most things it is important to do your research. Take a look at their reviews and ask them for references, most reputable agencies will provide these no problem. Contact a few of their previous clients to ensure that the references are valid and ask about their experience with the company; this will tell you a lot.
A good agency will have several years of experience, and this will be proven. Always request a copy of the agency’s terms and conditions, consider them carefully and look for any hidden fees. A reputable agency will be registered with the Financial Conduct Authority (FCA), the FCA regulates thousands of financial services to ensure that the consumer is getting a fair deal.
At Commercial Domestic Investigations we take the time to understand your business, we work tirelessly to recover any debt owed to you while preserving the relationships between you and your client; if you want to find out how we can help your business contact us on 08444 159200 or email firstname.lastname@example.org.