How to Select a Collection Agency

HOW TO SELECT A COLLECTION AGENCY WHO ARE YOU COLLECTING FROM? BUSINESS CONSUMER Commercial Collection Agency Reputation Protection Critical Retail Collection Agency FDCPA Compliance Critical SIZE OF AGENCY NEEDED DEPENDS ON # OF CLAIMS AND SIZE OF CLAIMS BEST COLLECTION PROCESS DEPENDS ON CLAIM SIZE # of claims Small Medium Large Type of Collector Size of Claim Automated or Defined Approach Specialist or Custom Approach 1 Yes No No 2-5 Yes Maybe No Under $1,000 Yes No 6-10 Yes Maybe No $1,000 - $5,000 Maybe Maybe 11-100 Yes Yes Maybe $5,000 - $25,000 Unlikely Probably 100-1,000 Yes Yes Yes $25,000 - $1000,000 No Yes 1,000+ No Yes Yes $100,000 No Yes DESIRED COLLECTION PHILOSOPHY PROFESSIONAL YET FIRM FORCEFUL AND INTIMIDATING TrustLink Google Bipoff Report. ACCREDITED ASSESS EFFECTIVENESS AND REPUTATION BUSINESS REVIEWS REVIEWS Gorteen y eoen BBB Linked in. CLIA. AIACC ACA Commencial Low Leogue ef America Beware: most"Collection Agency Review" websites are not authentic - they are simply paid advertising sites Reputation and effectiveness more important than rate COST Seek highest success rate at competitive contingency rate - not simply the lowest OTHER CONSIDERATIONS Reporting Procedure should be clearly defined in writing Written Contract is Paramount For more information on the criteria mentioned above, see our comprehensive guide at www.kgaction.com/how-to-select-a-collection-agency KG The Kaplan Group - Large Claim Collection Experts - www.kgaction.com P:805-541-2639 © 2012 HOW TO SELECT A COLLECTION AGENCY WHO ARE YOU COLLECTING FROM? BUSINESS CONSUMER Commercial Collection Agency Reputation Protection Critical Retail Collection Agency FDCPA Compliance Critical SIZE OF AGENCY NEEDED DEPENDS ON # OF CLAIMS AND SIZE OF CLAIMS BEST COLLECTION PROCESS DEPENDS ON CLAIM SIZE # of claims Small Medium Large Type of Collector Size of Claim Automated or Defined Approach Specialist or Custom Approach 1 Yes No No 2-5 Yes Maybe No Under $1,000 Yes No 6-10 Yes Maybe No $1,000 - $5,000 Maybe Maybe 11-100 Yes Yes Maybe $5,000 - $25,000 Unlikely Probably 100-1,000 Yes Yes Yes $25,000 - $1000,000 No Yes 1,000+ No Yes Yes $100,000 No Yes DESIRED COLLECTION PHILOSOPHY PROFESSIONAL YET FIRM FORCEFUL AND INTIMIDATING TrustLink Google Bipoff Report. ACCREDITED ASSESS EFFECTIVENESS AND REPUTATION BUSINESS REVIEWS REVIEWS Gorteen y eoen BBB Linked in. CLIA. AIACC ACA Commencial Low Leogue ef America Beware: most"Collection Agency Review" websites are not authentic - they are simply paid advertising sites Reputation and effectiveness more important than rate COST Seek highest success rate at competitive contingency rate - not simply the lowest OTHER CONSIDERATIONS Reporting Procedure should be clearly defined in writing Written Contract is Paramount For more information on the criteria mentioned above, see our comprehensive guide at www.kgaction.com/how-to-select-a-collection-agency KG The Kaplan Group - Large Claim Collection Experts - www.kgaction.com P:805-541-2639 © 2012