Below you will find 5 tips to hire the right collection agency…. It would be nice if we lived in a perfect world and all your clients/patients would pay on time and you wouldn’t need a collection agency. Obviously, we don’t live in that perfect world, so you need to know how to hire the perfect collection agency. Best to always be prepared so you will want to make sure you have one selected when you need them.
The first thing you need to know is not all agencies are created equal and handle clients/patients with the same grace.
- Be an educated consumer. Know what makes each one different
Each agency has their own expertise. Inquire to see if they have worked with your industry and your state.
- Confirm they have insurance.
There is always that chance a agency reacts aggressively and the debtor feels the agency acted in bad faith. You don’t want to set yourself to be in middle of this. Insurance protects you in these situations.
What rating do they have with The Better Business Bureau? How long have they been in business?
What kind of track record do they have?
- Cost and Fees
You need to research and know exactly what you are getting and what and when you are paying for it.
We suggest you use one that only charges you once they have done their job and collected
- Skip Tracing
This is software the agency uses to be able to locate debtors who leave town. A good collection agency will use what is known as “skip tracing”, This means they have access to several databases in order to locate a debtor who is trying to avoid the collection agency.
MCA is a third party debt collection agency that has been in constant business since 1950. We are rated A+ with the Better Business Bureau and we pride ourselves on excellent customer service along with delivering great recovery rates. There is no cost to you unless we collect! Why not try and re-coop some of your past due accounts with no out of pocket expense?