Search Google for “collection agency” and you’ll bring up about 73 million web pages. Collections can be a crowded space, and confusing territory for business owners or Accounts Receivable Managers looking for help recovering debt.
In Canada, there are not a lot of regulations governing collection agencies. As a result, many common collection agency problems continue to perpetuate themselves. The best agencies tend to rise to the top, but it’s not unusual for others to muddy the waters.
How can you tell the great collection agencies from the less effective, or even less ethical ones? Here are 5 things to look for: