Find information about third party agencies to insure they meet your needs

You can find a variety of third party collection companies. Some companies specialize in specific industries. Other companies specialize in the dollar amount of the debt. In order to find the best company, you need to get a list of third party collection agencies that actively serve your state.

I recommend: Fill out a brief online form at Collection Agency Research to receive free quotes for third party agencies. BuyerZone offers the opportunity to compare rates of third party collection agencies worldwide.

Use a third party collection company geared to your business size

Not all companies work well for both small and large businesses. Some of the larger collection agencies have specific department that service businesses based on their size. Find a collection company that offers services for your business size.

I recommend: Transworld Systems Inc. offers GreenFlag profit recovery, which is appropriate for smaller businesses. The Commercial Collection Agency Association offers a list of the most prestigious affiliates in the area of collection.

Find out how the third party debt collection agencies charge for their service

Debt collection costs vary from company to company. The difference in cost doesn't always indicate quality; so, you need to also ask for the company's success rate. Some companies charge a percentage of the collection costs and others charge a flat fee. Still others guarantee that if they don't collect, you don't pay.

I recommend: Rapid Recovery Solution, Inc. guarantees that their service is free if they don't collect, and they'll provide you a free quote for their services. RentRecoveryService specializes in delinquent rental collection and offers a flat fee service.