Debt collections can be a cumbersome task, especially, considering the attention that running a business requires. Naturally, this brings us to a commercial debt collection company that removes this additional load off your plate, leaving you to concentrate on other business matters. These third-party debt companies collect debts for you from the company you created the debt with.
The real question in this context, however, is how do you find the right commercial debt collection company in your area? Here’s a dive into the steps you can follow for working with a trustworthy commercial debt collection company:
How to Find a Trustworthy Commercial Debt Collection Company in Your Area
1. Ask for recommendations
According to S&P Global, the debt load for US corporations stands at $6.3 trillion. Considering this number, it is possible that someone in your professional circle knows a debt collection company. Therefore, your first step should be to ask around and prepare a list of recommendations.
2. Google for names of reliable commercial debt collection company in your area
What else can be better than asking search engines to help you out? All you need to do is to head to your browser and type in queries such as Commercial Debt Collection near me or something similar. This move is essential even if you already have some names from your colleagues and acquaintances.
When you conduct an online search, your browser will pull out debt collection company names that are located near you. The Google maps on the page will confirm this for you. As you research, you can put together a list of company names that are worth working with.
A golden tip here is to look for review lists such as those by Business.com. Such lists give insights into companies that you can work with. Don’t forget to check if the names you shortlist serve in your area or not.
3. Visit websites of the shortlisted companies
Once you have some names up your sleeve, you should start exploring them further. Start with visiting their websites. Make sure that the site looks professional. Also, ensure that the website showcases appropriate contact details including a physical address and a contact number.
This proves the authenticity of a business and chops the odds of scam. If you can, double-check the address given on the website with the address presented on Google maps.
4. Look for reviews and customer testimonials
There is always the risk of customer reviews on a website being fake. Therefore, you can’t rely on the social proof presented there. You can, however, look for reviews of the company on sites like Facebook.
The research ranks Google and Facebook as the leading sites for reading reviews. You can simply enter a search query that reads ‘company name’ + ‘review’ and digs out company reviews. 84% of us trust these reviews like we trust personal recommendations from friends, so you rely on these reviews for deciding if you should work with a company or not.
5. Call the final names of companies that you want to work with
By now, you would have crossed out several names from your list. It is possible that you have only a handful of commercial debt collection company names with you now. To finalize, try this one last measure of research. To this end, call the digits of each company as given on their website.
Calling the business gives you an idea of how professional it is. Ask for information from the customer service representative from scratch even if you have read all the details on the website. Note that the person on call should give the same answers as those offered on the website.
You can pick up a lot about a company from the way their representative talks to you on the phone. Additionally, you can also learn about how responsive a company is by how fast you can connect with them. Weighing such responsiveness is essential as it will determine your future communications with the company.
6. Final measures
Some final steps that you need to take include asking all questions and queries that you may have from the business. Make all points clear and seek legal help if any point in the contract for working with the debt collection company is not clear.
It is also important to mention here that you should work with a company with positive reviews and the one that has the nod of approval from your professional circle. This reduces the chances of you making the wrong decision and pairing with a company that you may regret working within the future.
In conclusion, finding the right commercial debt collection company in your area can be time- and research-consuming. However, all the steps that you take for searching the right business will eventually pay off as you find the right debt collector.