Top Best Debt Collection Service Providers
In business, there are times when you have to incur bad debts, with clients ignoring your final notice and old liability steadily accumulating. The most viable option and way out is to seek the professional help of debt collectors. Debt collectors are expert at soliciting and collection of payments from debtors.
Debt collection agencies vary depending on the type of debt they collect, how they do it as well as how much the fees they charge for their services is. If you are considering using one, below is the list of the top best there is in the industry.
- Allied Collection Services, Inc.
Allied Collection Services, Inc., is one of the best in the industry with significant investments in operations, technology and training. They specialize in the recovery of higher education, medical and retail debts. Also, they help you recover municipalities and commercial debts; and offer complete and comprehensive Call Center and BPO services. Allied Collection Services Inc., has been providing their services since 1969 and these services include:
- Pre-collect billing.
- Full-service debt collection solutions.
- Payment of bill online.
They have a great customer experience review and always handle the job with utmost professionalism
- Burt And Associates
Burt and Associates is a debt collection service provider focused on helping small businesses and Fortune 500 companies recover bad debts. They specialize in commercial debt recovery and has been in the market for over 30 years. Their services include:
- Diligence to providing high standards.
- Qualified and professional staff.
- Credit management services.
- State-of-the-art technology and effective reporting through a web-based system.
Burt and Associates have a debt collection success rate of 33% compared to other agencies in the industry according to their statistics.
- Portfolio Recovery Associates, Inc.
Referred to as one of the major players in the debt recovery industry in 2014, Portfolio Recovery Associates is one of US largest debt buyers. It was founded in 1996 and became public in 2002. They provide different types of fee-based services through its various subsidiaries to clients. Portfolio Recovery Associates, Inc., business model is based on buying pools of debts from creditors and banks at a discount. Then they try to collect double or even triple the amount the debt was acquired throughout the years.
- Capital Collection, LLC
Capital Collections, LLC was founded in 1996 and utilize top of the line collection strategy and tools to improve their recovery efforts. They are experts in the field of commercial and retail debt collections as well as enforcement of the creditors’ right. Capital Collections claim to have staffs who are aggressive, persistent and resourceful debt collectors. Their clients’ scope cover but not limited to:
- Large and small cooperation.
- Law firms.
Capital Collection claims to be experts when it comes to recovering your debts.
- Enhanced Recovery Company
Enhanced Recovery Company is a debt collection company as well as an international BPO and full-service provider. Also, they provide businesses with outsourcing services which include market research for fortune 500 and recovery outsourcing. Their outsourcing services cover customer acquisition, customer service and technical support. Enhanced Recovery Company services include:
- Dispute resolution
- Equipment retrieval
With over 15 and above years of experience in the debt recovery industry, their help can go a long way to make your business better again.
- Transworld Systems Collection Agency
Transworld System Collection Agency is a debt collection company that works with large companies, organization and individuals. It helps them to recover their debts and past due accounts and has over 50 years of experience. Their team is made up of functional leaders, independent advisors, industry experts and an engaged ownership team. Their clients include:
- National and Regional healthcare providers
- Financial institutions
- Government institution
- Medium and small businesses
- Educational institutions
Transworld System Collection Agency aims to improve the financial lives of institutions, consumers and business.
- IC System Inc.
IC System Inc., is a debt recovery agency that provides account receivable recovery for companies primarily in the financial services industry. They have over 25 years of experience providing account recovery for both commercial and consumer debts. Their services include:
- First party call center solutions
- The third-party accounts receivable management
They claim to offer more friendly debt collection practices using state-of-the-art technology and much more.
- Pioneer Credit Recovery Inc.
Pioneer Credit Recovery Inc., is a subsidiary of Navient Corporation that provides debt collection services on defaulted debts. The Pioneer Credit Recovery primarily deals with the education’s student loan collection contract. They have been credited with recovering the most debts in the department totaling the amount of $750 in less than five years.
Now that you have this list, we hope you can make your choice based on what your business does and requires. Most of these debt collection service providers will charge a certain fee, however, it is worth it.