What to Look for in a Trustworthy Debt Recovery Agency and What to Expect when You Find One

This is a guest blog by our partner AR Legal.

When you are looking for a debt recovering service, there are four things you need to research and consider. Here’s a quick breakdown.

References: Not hard to find these days either online or by word of mouth through associates. Many trade or industry bodies and associations recommend companies to their members. A nominated supplier has already achieved certain criteria to be recommended to an association and its members.

Experience: There are always reasons why somebody has continued in any business for a considerable time and you can’t buy or learn experience. Time spent in any business leads to wisdom that can only be gained through experience.

Ts & Cs: Naturally, these need to be looked through as always. But as hiring a debt recovery company is a new area to most, a second opinion, from a colleague maybe, will be helpful.

Look out for extra fees, such as for admin. It’s no collection-no fee, right?

Fees: Average for debt recovery is 15%. Some are higher and some are lower. WHY?

Higher- If the company can guarantee fast results, a higher rate may be worth considering but only within an agreed timeframe. Back to Ts & Cs above.

Lower- But are there other admin costs or membership fees, for example?

Upfront fees are best avoided.

No Collection-No Fee should mean what it says and a reputable debt recovery company will earn their money when they have collected your debt.

For free initial advice or a general discussion on how AR Legal Collections can help you recover a bad debt, please contact us on:

Tel:  020 8202 0730

E-mail: arno@legaldebtcollectors.co.uk

www.legaldebtcollectors.co.uk 

AR Legal work only on a No Win – No Fee basis.  Collection charges discounted for REC members.