Knowing when to hire a debt collection agency can be tough, and knowing which collection company to hire can be even harder. There are two types of debt – consumer and commercial. Since each type requires different collection tactics, debt collection companies often specialize in one or the other. However, if you are in the unique position of needing both business-to-consumer (B2C) and business-to-business (B2B) collections, there are companies that offer both.
With the right technology, debt collection agencies can tailor communications to resonate with each debtor, including a combination of mail, email, phone and in-person communication. The best collection agencies are up to date with the latest digital technologies. This includes responsive, mobile-friendly websites that have payment portals for consumers to easily pay online, as well as status portals to display live account status updates. Other abilities such as skip tracing and litigation are also important to evaluate before choosing and signing up with an agency. To help you find the right service, we evaluated more than 30 agencies to create a list of the top debt collection agencies in America.