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Features of a good Debt-Recovery Service

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Have you ever experienced a situation where a person comes asking for you to pay back their money? Of course, a large portion of the population lives on credits and loans, so it’s quite normal to take loans and pay them back in time to avoid any lawsuits. But the real question is; have you ever encountered such an occurrence where a collection agency calls you to pay-off your debts to your creditor? In circumstances like these the ultimate meaning could be that you have a record of current delinquencies and a loan left unpaid. 

How is debt recovery distinct from debt collection? Debt recovery involves a third party between the debtor and the creditor, commonly known as the debt-recovery services. It is important to know which debt-recovery service the best is to be involved with so, let’s take a look. 


A good debt collector will prepare prior to meeting the client with the intention to obtain complete and accurate records. This is to ensure they don’t pursue people who don’t owe money. A great way to start preparing is gathering the debtor’s entire profile to have an insight into their personality and to know what sort of person you are dealing with. When starting with profiling, it is a smart move that the debt collector goes through social media and searches for information like; what sort of place do they live in, what kind of company are they involved with and what sort of work do they do?  

A reliable collection agency will always do the usual research before they dial their clients to prepare themselves for situations where the debtor disputes or attempts to refute the payment. That research will involve knowing about the invoice number, the amount that is past due and how past due it is, the payment history, and more. 

Aiming for a Win-Win: 

It is quite apparent that if a debtor has reached delinquency in the loan payment process, they are planning to not abide by any obligations. In that case it is essential for the debt collectors to understand negotiation. A good example is to identify for the debtor the advantages of paying-off the loans to their creditors; the debtor will be able to retain their good credit rating, they will be kept away from any legal actions and additional fee charges, moreover, they will be saving their time by not being contacted again. A good debt recovery service will ensure that both the parties (debtors and creditors) will achieve something in the collection process; they help both sides to solve their problems beneficially. 


All kinds of businesses nowadays find ways to go for a quick fix, get paid, and move on to their next clients. However, a good debt collector agency will know that patience is virtue and the process of collection will probably vary in time depending on the nature of the debtor. It is often found that after a call is made to the debtor, they make a written request for the agency to verify the debt they have been contacted for. In return, the collector sends for the debtor a written document specifying the amount owed, the company the amount is owed to, and how to pay it. In circumstances like these, the debt recovery services do not show any harsh behaviour towards either the debtor or the creditor under the state of urgency. If the collector fails to verify the debt, the company eventually stops collecting from the debtor. 

Closing the Deal: 

As we talked about it before, there are chances that the debtor will dispute and not agree on any terms over the first few calls. In such cases a good debt-recovery agency will hire debt collectors who are good listeners and have the quality of being patient, polite and empathetic towards the debtors. However, it should always be in mind of the debt collector to ‘close the deal’. During a conversation with the debtor, it is probable that the debtors change their tone from being disputable to negotiable. That is exactly when debt recovery services will close the deal and attain the promise of payment. The details will involve the amount to be paid, time and method of payment. 

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