Standards to look for:

ACA Membership - The International Association of Credit and Collection Professionals (ACA) was founded to guarantee ethical standards in the industry and to sustain the value of credit collection professionals in the broader community. Check to make sure your international debt collection service displays ACA membership.

Your assurance - Creditsafe Score and Equifax Rating - Equifax is one of the longest established international credit rating companies and Creditsafe is the UK’s market leader in providing credit information on more than 4.5 million UK businesses. Check to make sure that any debt collection service you consider using has high Creditsafe and Equifax scores – you should be looking for an Equifax ‘A’ rating.

Your right to confidentiality and data protection - Licenses and Insurance - You need the reassurance that comes with knowing your business information is kept safe – confidentiality is vital when it comes to your business and financial records. Enquire about your debt collector’s data protection policies – your information must be stored safely for a designated time and then destroyed in a secure manner. There are licences and laws designed to protect your information, so make sure your commercial debt collection provider has their company information (including Company and VAT Registration Numbers) freely available. Check that the company complies with the new GDPR data protection legislation and that they are covered by comprehensive professional indemnity insurance.

Effectiveness with high ethical and professional standards - – Check that the debt recovery agency offers competitive rates, a personal service and, most important, demonstrates a proven track record of successfully recovering debts both in the UK and on the global stage. They should have enough confidence in their ability to offer their services on a contingency (no win, no fee) basis.

There’s no need to compromise when it comes to recovering monies owed to your business – a reputable service with sound credit ratings, association memberships and experience of global commercial debt recovery will get the job done.