Choosing a debt recovery agency to take over your debts can seem like a minefield. Some less scrupulous agencies have made business owners nervous about turning to debt collectors in fear that it will damage their company’s reputation. Don’t let that put you off though - choosing a good debt collection agency could be the smartest decision you ever make.
Once you have shortlisted your preferred debt recovery agencies (you can find advice on how to choose a reputable debt collection agent here), you then need to decide whether to use a local supplier or a nationwide debt recovery agency.
To help you, here are three reasons why you should consider using a nationwide agency over a local one:
- If your debtor is missing
If your debtor has gone away, is missing or no longer contactable, you need an agency that can trace your customer’s whereabouts and movements throughout the UK – not just your local town. A nationwide agency will have local knowledge for towns and cities up and down the country and can use this insight to track down debtors faster.
- If your debtors operates a nationwide business
If your debtor operates a UK-wide business or deals with nationwide customers themselves, a nationwide debt collection agency can tap into their national network to find out if your debtor is still trading with other suppliers elsewhere in the UK. They may well have inside information on other UK branches and divisions of your client’s business and can draw on information from their national database of clients to see if anyone else is also waiting for payment from the same debtor. Often, other suppliers may know something you don’t which could lead to a speedier solution all round.
- If you’re looking for an established, reputable debt recovery agency
There’s no reason why a small, local agency won’t be professional and good at what they do but if you want extra reassurance that you’re dealing with a reputable debt recovery renowned for results, choosing a larger, established nationwide debt recovery agency may give you that peace of mind. An agency that operates throughout the UK should have a large collection of client testimonials and case studies so you can see how successful the agency has been in the past. A larger nationwide agency by its very nature will be known by more business that can vouch for the agency’s approach enabling you to have greater trust in who you employ to tackle your debtors.