Top 10 Debt Collection Agencies
Top 10 Debt Collection Agencies
Finding the right debt collection agency for your business can be confusing. We researched hundreds of agencies to choose the Top 10 Debt Collection Agencies. We looked at factors such as experience, reputation, customer service, and cost. We read reports, consulted with experts, and read customer reviews. Here is a list of the Top 10 Debt Collection Agencies.
Los Angeles Debt Collection Agency (LADC) has an excellent track record with collection services. Known to be one of the best options for debt collection LADC boasts a 70% success rate, and businesses do not incur any costs unless they collect.
LADC’s pricing, low minimum collection balance requirement and recovery success rate make it our choice as the best collection agency. LADC collects both commercial and consumer debt across the U.S., serving many different industries.
2. KOP Collection Services (KOP) is a consumer and commercial debt collection agency established in 2016 and headquartered in Chicago Illinois. KOP Collection Services has been built on the foundation of quality assurance, ethics, integrity, and performance.
KOP serves a variety of different industries and handles collection nationally as well and internationally. They value the reputation of their clients and bring extensive experience and professionalism to every case.
Prestige Services Inc. (PSI) is our choice for the best B2B collection agency because of its broad array of collection services, transparent pricing and strong customer service.
PSI’s rates are lower than competing services and are negotiable on a case-by-case basis. Volume discounts are also available. PSI pricing is contingency-based, which means you don’t pay when it fails to recover the debt.
4. IC System
Founded in 1938, IC System takes an ethical approach to debt collection and uses methods that maintain the relationship you have with your customers. They’re family owned and operated, which plays into their focus on upholding the relationship between you and your clients.
You’ll also find multiple debt recovery plans available for small businesses in a range of different industries. Business owners can tailor their collections with two levels of service and price points that IC System offers.
The top-notch commercial debt collection agency, The Kaplan Group, founded in 1991, manages the working of only Business-to-business collection. It specializes in large commercial claims, but it can help with businesses of any size. Kaplan’s three-step system has led to an 85% success rate on large viable claims.
Kaplan prides itself on understanding how the money-controllers within a company work, and how contracts like sales orders, invoices, price discounts, shipping charges, and sales tax laws work.
Rocket Receivables has experience managing debt collections in a wide range of industries, and they’ve simplified the process by acting as an extension to small business operations with the help of their two-stage process.
The debt collection agency owned by TSI, Rocket Receivables, is majorly designed for small business owners. It provides tons of offers to them like healthcare, residential, retail industries, trade, and education. Its membership comes absolutely free of cost and it charges for only the activities of actual collection.
Atradius Collections is a collection agency for small business owners, but they are also known for their international reach and automated approach. From collections, insolvency services, and invoice checking, they offer numerous ways to ensure your invoices get paid.
The agency is based in the United Kingdom as the leading commercial debt collection agency. Atradius Collection is a part of numerous other debt collection trade associations around the world. Such associations include the Federation of European Credit Management Associations, the International Association of Commercial Collectors, and the credit services associations.
Summit Account Resolution’s transparent pricing, low minimum collection balance requirement and variety of service options make it our choice as the best collection agency for small businesses. Summit collects both commercial and consumer debt across the U.S., serving many different industries.
It has some of the lowest rates in the industry, charging as little as 7% for certain first-party collection programs to as much as 50% if it’s a consumer collection account. Rates are negotiable. There aren’t any upfront fees, nor additional charges for older accounts.
Cedar Financial is also among the top debt collection agencies. It focuses on providing the clients, the most professional and comprehensive debt recovery services that are available. The fields of their operation include Commercial, Education, Government, Healthcare, and Retail.
Keeping in mind the commitment and relationship between the parties, they promise a positive payment experience. With current technologies and personnel education programs, they also provide higher conversion rates.
Mesa Revenue Partners is a collection company with more than 40 years of experience in the construction industry under its belt. They are an affiliate of Altus Receivables Management, the largest debt collection company in North America.
Operating since 1976, Mesa has offices in Arizona, Colorado, and California. They have a collections license in 11 additional states: Connecticut, Florida, Georgia, Illinois, Louisiana, Michigan, New Jersey, New York, Pennsylvania, Texas, Virginia, and Washington.