{"id":6129,"date":"2023-08-22T12:14:46","date_gmt":"2023-08-22T12:14:46","guid":{"rendered":"https:\/\/alwadiholding.com\/aw-egypt\/?p=6129"},"modified":"2023-08-22T12:14:46","modified_gmt":"2023-08-22T12:14:46","slug":"choose-debt-collection-agency-for-businesses","status":"publish","type":"post","link":"https:\/\/alwadiholding.com\/aw-egypt\/choose-debt-collection-agency-for-businesses\/","title":{"rendered":"Tips To Choose the Right Debt Collection Agency for Your Company"},"content":{"rendered":"<p><span style=\"color: #000000;\">Accumulation of bad debts often leads to significant financial stress. When it comes to recovering these debts, many companies opt for debt settlement as a viable solution. This process involves the debtor making a single lump sum payment, typically an amount lower than the original debt. In order to proceed with debt collection, businesses need to choose a reputable<\/span> <a href=\"https:\/\/alwadiholding.com\/aw-egypt\/\">debt collection company in Egypt<\/a><strong>.<\/strong><\/p>\n<p><span style=\"color: #000000;\">The question then arises &#8211; how does one select the right agency for debt recovery? Among the abundance of companies offering<\/span> <a href=\"https:\/\/alwadiholding.com\/aw-egypt\/debt-management\/\">debt management services<\/a><span style=\"color: #000000;\">, businesses should consider a few key factors before making their decision. It is crucial to pick a top-rated company that can effectively assist in reclaiming the debt.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/alwadiholding.com\/aw-egypt\/choose-debt-collection-agency-for-businesses\/#1_Research_the_Debt_Collection_Company_Profile\" title=\"1\/ Research the Debt Collection Company Profile:\">1\/ Research the Debt Collection Company Profile:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/alwadiholding.com\/aw-egypt\/choose-debt-collection-agency-for-businesses\/#2_Do_They_Have_Certified_Attorneys\" title=\"2\/ Do They Have Certified Attorneys?\">2\/ Do They Have Certified Attorneys?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/alwadiholding.com\/aw-egypt\/choose-debt-collection-agency-for-businesses\/#3_Do_They_Offer_Comprehensive_Solutions\" title=\"3\/ Do They Offer Comprehensive Solutions?\">3\/ Do They Offer Comprehensive Solutions?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/alwadiholding.com\/aw-egypt\/choose-debt-collection-agency-for-businesses\/#4_Vet_Collection_Practices\" title=\"4\/ Vet Collection Practices:\">4\/ Vet Collection Practices:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/alwadiholding.com\/aw-egypt\/choose-debt-collection-agency-for-businesses\/#5_Compare_the_Payment_Methods\" title=\"5\/ Compare the Payment Methods:\">5\/ Compare the Payment Methods:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/alwadiholding.com\/aw-egypt\/choose-debt-collection-agency-for-businesses\/#6_Evaluate_Security_and_Technology\" title=\"6\/ Evaluate Security and Technology:\">6\/ Evaluate Security and Technology:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/alwadiholding.com\/aw-egypt\/choose-debt-collection-agency-for-businesses\/#How_AW_Egypt_Debt_Collection_Agency_Can_Help\" title=\"How AW Egypt Debt Collection Agency Can Help?\">How AW Egypt Debt Collection Agency Can Help?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"1_Research_the_Debt_Collection_Company_Profile\"><\/span><span style=\"font-size: 14pt;\"><strong>1\/ Research the Debt Collection Company Profile:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000000;\">Before making any decisions, it is important to thoroughly research the company. Ask about key metrics like debt recovery rates, customer retention levels after collections, dispute rates, etc. These indicate effectiveness.<\/span><\/p>\n<p><span style=\"color: #000000;\">The research should also include reviewing their history, services, client feedback, and current reputation. Pay close attention to customer evaluations, as they will provide insight into the company&#8217;s past interactions with clients and help determine if they can be trusted.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_Do_They_Have_Certified_Attorneys\"><\/span><span style=\"font-size: 14pt; color: #000000;\"><strong>2\/ Do They Have Certified Attorneys?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000000;\">One of the most critical aspects of the debt recovery process is having skilled professionals who can effectively negotiate with your debtors. Prior to choosing a<\/span> <a href=\"https:\/\/alwadiholding.com\/aw-egypt\/\">debt collection agency<\/a><span style=\"color: #000000;\">, ensure that they have certified counselors who possess the necessary expertise and counseling abilities. These professionals will be responsible for persuading the debtors to pay all (or most) of the amount owed, so their skills are essential for a successful negotiation.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"3_Do_They_Offer_Comprehensive_Solutions\"><\/span><span style=\"font-size: 14pt;\"><strong>3\/ Do They Offer Comprehensive Solutions?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000000;\">When selecting a<\/span> <a href=\"https:\/\/alwadiholding.com\/aw-egypt\/debt-management\/\">debt collection services<\/a>,<span style=\"color: #000000;\"> you should evaluate what services they offer like letters, calls, leg service, etc. Make sure serviceve capabilities matching your needs.<\/span><\/p>\n<p><span style=\"color: #000000;\">In addition, consider their ability to provide convenient and comprehensive solutions. As someone already dealing with delayed receivables, you need a company that understands your situation and can offer all the necessary services conveniently. Look for a business that takes the time to assess and comprehend your financial condition. By offering all services under one roof, the chosen business can simplify and streamline the debt recovery process for you.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"4_Vet_Collection_Practices\"><\/span><span style=\"font-size: 14pt;\"><strong>4\/ Vet Collection Practices:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000000;\">When vetting a<\/span> <a href=\"https:\/\/alwadiholding.com\/aw-egypt\/\">debt collection agency&#8217;s<\/a> <span style=\"color: #000000;\">practices, request to review their policies and procedures for collections calls, letters, legal action, etc. Review for ethical conduct. Make sure they comply with regulations like international and state laws to avoid illegal practices. Ask how they work with customers to reach mutually agreeable repayment arrangements.<\/span><\/p>\n<p><span style=\"color: #000000;\">Look for patient, non-aggressive approaches. Learn how they validate and document debts to avoid misdirected collection efforts. Evaluate their processes for keeping accounts in-house vs legal forwarding. Ensure alignment with your risk appetite. Finally, review dispute and complaint processes. Look for a commitment to fair, transparent resolution practices.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_Compare_the_Payment_Methods\"><\/span><span style=\"font-size: 14pt;\"><strong>5\/ Compare the Payment Methods:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000000;\">To compare the charges for debt recovery, ask about fee options, contingent fees (percentage of recovered debt), flat fees, or hybrid models. Understand all fee components, account setup, technology, legal forwarding, etc. No hidden costs.<\/span><\/p>\n<p><span style=\"color: #000000;\">Ask about performance guarantees or money-back provisions in case recovery falls short. Additionally, negotiate rates based on projected recovery amounts. The more they recover, the more they earn.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\"><strong>Read More:<\/strong><\/span> <a href=\"https:\/\/alwadiholding.com\/aw-egypt\/debt-management-agencies-benefits\/\"><strong>How Businesses Can Thrive With Debt Management Agencies?<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"6_Evaluate_Security_and_Technology\"><\/span><span style=\"font-size: 14pt;\"><strong>6\/ Evaluate Security and Technology:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000000;\">When going into the debt collection process, your business and personal information must be in safe hands. Therefore, ensure the agency operates a robust data security, encryption, access controls, security audits, and cyber insurance. Make sure technology meets legal compliance standards for data tracking and reporting.<\/span><\/p>\n<p><span style=\"color: #000000;\">Probably the debt agency leverage AI and analytics to maximize automation and efficiency. Check for integration capabilities with your internal systems like ERPs. It is useful to ensure omni-channel collections &#8211; phone, email, text, and letters.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_AW_Egypt_Debt_Collection_Agency_Can_Help\"><\/span><span style=\"font-size: 14pt;\"><strong>How AW Egypt Debt Collection Agency Can Help?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000000;\">If your business is in need of debt settlement, AW Egypt provides highly skilled and knowledgeable professionals, as well as financial advisors. From the inception to the final resolution of your debt, we can support you by representing you before the debtors. Our certified counselor will negotiate with your debtors to reclaim as much as possible of the outstanding balance with their agreement. Our easily accessible<\/span> <a href=\"https:\/\/alwadiholding.com\/aw-egypt\/debt-management\/\">debt collection services<\/a><span style=\"color: #000000;\"> are designed to aid you in recovering your funds.<\/span><\/p>\n<p><a href=\"https:\/\/alwadiholding.com\/aw-egypt\/debt-management\/\">Best Debt Management Services in Egypt<\/a>\u202f\u202f<a href=\"https:\/\/alwadiholding.com\/aw-egypt\/contact\/\">Contact us\u202fnow!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Accumulation of bad debts often leads to significant financial stress. When it comes to recovering these debts, many companies opt for debt settlement as a viable solution. This process involves the debtor making a single lump sum payment, typically an amount lower than the original debt. In order to proceed with debt collection, businesses need to choose a reputable debt collection company in Egypt. The question then arises &#8211; how[&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6133,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_lock_modified_date":false,"_joinchat":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"jetpack_featured_media_url":"https:\/\/alwadiholding.com\/aw-egypt\/wp-content\/uploads\/sites\/7\/2023\/08\/Tips-To-Choose-The-Right-Debt-Collection-Agency-For-Your-Company.jpg","_links":{"self":[{"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/posts\/6129"}],"collection":[{"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/comments?post=6129"}],"version-history":[{"count":1,"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/posts\/6129\/revisions"}],"predecessor-version":[{"id":6134,"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/posts\/6129\/revisions\/6134"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/media\/6133"}],"wp:attachment":[{"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/media?parent=6129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/categories?post=6129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alwadiholding.com\/aw-egypt\/wp-json\/wp\/v2\/tags?post=6129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}