If a debt goes past due, the creditor online incassobureau sends it to a collection agency to pursue payment in exchange for a percentage of the amount recovered. Some collection agencies specialize in specific industries and use a variety of tactics, including telephone calls, letters and legal action to collect outstanding debts. Some may be able to work with you to create a payment plan that fits your budget.

Before you start working with a collection agency, check the agency’s website for details of their policies and practices. Ask about their training and whether or not employees receive regular updates on debt collection laws and procedures. It’s also a good idea to interview a potential debt collector and ask for proof of their credentials. You should also ensure that the debt they’re pursuing is legitimate and falls within your state’s statute of limitations.

Online Debt Collection: Is It Right for Your Business? Pros and Cons Explained

Debt collection agencies can be found all over the country and operate on a variety of business models. Some are small and focus on a specific industry while others offer a full range of collections services, such as debt buying, third-party collections, demand letters, litigation and skip tracing. The best debt collection agencies have a solid track record and a high return rate, and their fees are generally based on a percentage of the amount collected.

Our pick for the best B2B collection agency is Prestige Services Inc. This company offers debt collection services nationally and internationally, using a variety of tactics, including debt validation and a secure online portal for clients to monitor the status of their accounts. The company has in-house legal advisors and uses skip tracing to locate debtors. It also works with timeshare and education industries, as well as financial and medical businesses.