Things you Need to Know about Hiring a Commercial Debt Recovery Company
If you are owed so much money by customers of your business that you really need to start collecting it, you may be considering hiring a commercial debt recovery firm to help.
There are, of course, thousands of commercial debt recovery companies out there and some are better than others. Here are a few things you need to know before you hire one.
Get recommendations -- A commercial debt recovery can differ markedly in how successful it is compared to other firms out there. This is why you should get as many recommendations as you possibly can from people who have used them in the past.
Check on a company's reputation -- Remember, even though it is a different company that is attempting to collect your debts, they do reflect on you and on your company.
Make sure you check on a company's reputation before hiring any commercial debt recovery agency, so you know you are paying for a professional service. After all, you do not want your company name to be associated with a commercial debt recovery agency that uses threats or bullying tactics to get the money owed to you.
Do they follow Office of Fair Trading guidelines -- When it comes to commercial debt recovery, there are specific guidelines put out by the Office of Fair Trading. These are guidelines that are beneficial to the person that owes you money and to you as well.
Be sure any commercial debt recovery firm you hire stresses that they follow those Office of Fair Trading guidelines so none of your customers are abused or made to feel terrible because they owe you money.