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The Best Collection Agency Services of 2020

By Skye Schooley,
Business News Daily Writer
| Updated
Oct 16, 2020

Here is our guide to choosing the right debt collection agency for your business needs. We break down our best picks and explain legal considerations, risks, and rewards.
Best for Small Businesses
Rates: 7.5%-50% per account; $50 minimum collection balance
Best for B2B
Rates: 22%-25% per account; $200 minimum collection balance
Best for B2C
Rates: Contact for quote (requires minimum of five accounts)
Here is our guide to choosing the right debt collection agency for your business needs. We break down our best picks and explain legal considerations, risks, and rewards.

Update: We've updated our FAQs with information about how long a collection agency will collect debt for you and what happens once you sell a past-due debt to an agency.

The longer you wait to recover debt on delinquent accounts, the less likely you are to receive payment. Since it can be difficult to collect money on accounts that refuse to pay, many small businesses turn to collection agencies for help. Collection agencies differ based on industry type, locations served, collection type (consumer or commercial) and collection strategies. Some agencies also offer helpful features like online portals, skip tracing and litigation to fit various needs. To help you choose the right collection agency for your business, we created a list of the best collection agencies of 2020.     

Find the Right Collection Agency for Your Business

Fill out this questionnaire to find vendors that meet your needs.

Collection agencies, not to be confused with debt buyers, are most commonly paid a percentage of any outstanding funds they recover on your accounts, but they don't own the debt. When they collect a payment, they hand the money over to you, minus a certain percentage in fees. A standard collection agency offers services such as formal demand letters, phone calls and emails; the top debt collection agencies provide additional services, like skip tracing, litigation and online portal access.

When comparing collection agencies, it is important to analyze more than just the services they offer. An agency's reputation for how it treats your debtors is equally important, since it will be representing your business. There are strict laws surrounding collection efforts. Any reputable agency will follow those laws and treat your debtors with dignity and respect.

Our Reviews

Summit Account Resolution: Best Collection Agency for Small Businesses

Summit eschews aggressive collection tactics. It prides itself on being professional, friendly debt collectors.
It can help with in-house collections, medical collections, precollections and employee reimbursement debt.
Summit AR has restrictions on the amount of time – two years – accounts have been delinquent.
Summit Account Resolution (Summit AR) is our choice as the best collection agency for small business because of its customized approaches, transparent pricing structure and extensive services. It is an ideal collection agency for any small business seeking repayment on accounts that have been delinquent for up to two years. Summit AR is great for any small business, as it provides collection services for both consumer (B2C) and commercial (B2B) collections. It collects within a range of industries throughout the United States, including medical, dental, employee reimbursement, consumer and court-ordered obligation, child and spousal support, and all commercial industries. If you are seeking collections in Hawaii, Nevada, New Mexico, New York or North Carolina, you'll need to speak with a Summit AR rep. These states have specific laws that can complicate the debt collection process. This agency charges on a contingency fee basis. Collection rates vary by collection type, size and age. They average between 7.5% and 50% for each account, with consumer rates typically around 35%. The agency requires a $50 minimum debt to be collected on each account. In addition to standard collection services, Summit AR provides accounts receivable consulting, skip tracing, accounts receivable recovery assistance and litigation. Summit AR has a portal on its website, and when you log in, you have immediate access to your delinquent accounts. You can check an up-to-date status of the accounts you've submitted, and you can submit new accounts to Summit AR. When you sign on with Summit AR, you receive an account manager as your dedicated point of contact. This agent will answer any questions you have, and they'll treat your debtors with respect and dignity.
Read Review

Prestige Services Inc.: Best for B2B Collection Agency

You can submit new collection accounts through the website.
PSI provides precollection services and bank account searches. It can also assist
PSI only offers commercial B2B debt collection.
Prestige Services Inc. (PSI) is our choice for the best B2B collection agency thanks to its extensive features and excellent customer service. It provides standard commercial collection agency features – precollections, demand letters, final notice forms – as well as advanced techniques like skip tracing, litigation and an online portal. Because commercial and consumer debt collections are typically handled differently, it is ideal to use an agency that specializes in the area you need rather than both. PSI specializes in B2B collections, and it collects debt repayments throughout the United States, Canada and Mexico. PSI requires a $200 minimum collection balance and charges on a contingency fee basis. The agency's rates are generally 5% to 10% lower than many competing agencies. For accounts with a balance of $200 to $3,000, PSI's rate is 25%. For accounts with a balance ranging from $3,000.01 to $20,000, the rate is 22%. Rates are negotiable, and volume discounts can also be applied. Litigation fees are extra and can go up to 40%. PSI provides timely, efficient collection services; according to the agency, it typically reaches a resolution with the debtor within the first 45 days after collections commence. After your debtor pays PSI, the agency releases an end-of-month remittance check to you, complete with payment details. On its website, PSI features two customer portal options – the placement portal and the status portal. Within the placement portal, you can get a free quote on a past-due account you'd like to turn over to PSI, and you can submit new accounts to PSI. The status portal provides live status updates for each account you've submitted. Within each status update, PSI includes detailed notes about the interactions between the collection agency and the debtor.
Read Review

Rozlin Financial Group Inc.: Best for B2C Collection Agency

Agents use a personalized approach to help debtors. • Rozlin can help you locate hard-to-find debtors.
It has access to four skip-tracing databases.
The company does not service all 50 U.S. states, nor does it list the states it serves on its site. You'll need to call the agency for more info.
Rozlin Financial Group Inc. (RFGI) is our choice for the best B2C collection agency. It offers all the necessary features and services a business needs to recover payment on delinquent consumer accounts. It gives its clients online account access (with up-to-date status reports on its collection efforts), great reporting and customized approaches to debt recovery. Additionally, it uses advanced skip-tracing techniques to locate debtors, and as a last resort, it can forward your claim to attorneys for legal action. RFGI services dental and medical practices, hospitals, schools, real estate and property management companies, utilities, retailers, and lending service providers (credit cards, auto loans, mortgages, etc.). RFGI's fees are based on how much money it recovers from the debtor. If it is unable to collect on an account, there is no charge. RFGI requires you to have a minimum of five accounts. To request a price quote, you can call RFGI toll-free, or you can complete a form on the agency's website to have a representative contact you. RFGI collection agents are required to participate in active training to stay up to date on the best collection techniques. This allows them to take a tailored approach to each of your consumer collection accounts while complying with the latest laws and regulations. Debtors can pay RFGI by check, by credit card or through an online payment portal. Once RFGI receives a payment, it mails you a check. If your debtor pays monthly, RFGI will send you a remittance check each month. If your account requires legal action, RFGI can refer your account to the appropriate parties for litigation.
Read Review

When to Hire a Collection Agency

When it comes to collecting outstanding debt, generally, the more time that passes, the lower chance you have of recouping the money. Most companies send past-due accounts to a collection agency when they are 90 to 120 days past due. If you wait longer than 120 days, you are far less likely to ever recover the debt. 

These are some signs it's time to start thinking about hiring a reputable collection agency:

  • New customers do not respond to your first attempt to collect the debt. When you do not have a payment history with the customer, there's a greater chance they will refuse to pay.
  • You've agreed to a payment plan, but the customer doesn't follow through. Customers who still won't pay after you've both worked out a payment plan are unlikely to pay what they owe you.
  • A customer completely denies responsibility for the debt. Unless you enlist the help of a collection agency, these debts are rarely recovered.
  • The customer makes unfounded complaints about your business, product or service. Most of the time, these complaints are just an excuse to get out of paying the debt.
  • The customer has a history of financial irresponsibility.

If you have a delinquent account that matches any of these descriptions, you can take certain steps before hiring a collection agency. First, reach out to your debtor multiple times, in a polite but firm manner. If phone calls and emails don't work, send a formal demand for payment. This letter details the payment that needs to be met and is often required if you eventually file suit against the debtor.

If you have exhausted all of your options and aren't getting anywhere with a delinquent customer on your own, further attempts to collect the debt are better left to a professional agency that knows the appropriate way to collect debts while adhering to the Fair Debt Collection Practices Act. The agency may recover at least a portion of what you're owed, if not all of it. 

Debt Collection Fee Structures

Many factors determine collection agency fees, including the size of the debt portfolio, the type of work necessary to collect the debt, the age of the account and the agency's experience level. 

There are two main fee structures. The more common type – a contingency fee – is a form of tiered pricing that only applies when an agency collects on your account. The less common fee structure is a fixed rate, or fixed fee, that the agency charges upfront.

Contingency fees

Contingency fees are charged as a percentage of collected debt, and they are typically negotiable, especially for accounts that have a significant balance owed. Contingency fees, on average, range from 20% to 50% depending on the size of the debt and the age of the delinquent account. Some agencies display their rates on their websites, but most require you to contact the firm for the exact rate you'd pay on your accounts. 

The lowest rate doesn't always mean the best results. Pay attention to the return rate. If you pay a 25% fee on a $1,000 debt and the agency collects only $300, your return is $225. However, if you pay a 35% return rate and the agency collects $500, you reclaim $325. Talk to agencies, but also do your due diligence (checking references, looking up customer reviews, etc.) to see how well an agency performs in recouping debts and its return rate.

Fixed fees

Although this is not as common, some agencies charge a fixed fee for collections. You pay the fee upfront and keep 100% of the funds the agency recoups for you. An agency will typically only agree to this if the debt is less than 90 days old – otherwise known as precollection – or just over 90 days old. This rate structure is rare, but it can save you money on collection fees if you seek collection on newly delinquent accounts. 

When assessing which fee structure is right for you, carefully consider the age, volume and breadth of your accounts. If you ask for a quote over the phone, request that the agent send you an email of the quote for future reference. Many agents may negotiate pricing if you ask.

Choosing a Collection Agency

There are more than 4,000 collection agencies in the United States alone. Some handle consumer debt collection (B2C), while others specialize in commercial debt collection (B2B). Each collection type is investigated differently; however, many agencies handle both.

1. Determine if it fits your needs.

Not all agencies will fit your specific business needs; it is important to carefully assess which agencies will. Some agencies cater to businesses of certain sizes (e.g., small businesses or enterprises), while some focus on a specific region (local, national or international). Beyond basic collection efforts, some agencies provide additional services, such as billing, precollections, credit reporting and account receivables consulting. You should identify if an agency is well suited for your business and provides all the services you need.  

2. Determine if it specializes in your industry.

Some collection agencies, primarily consumer agencies, specialize in certain industries, such as healthcare, insurance, utilities, credit cards, mortgages or auto loans, while others service a wide range of industries. If you provide a product or service within a very specific industry, the experience a collection agency has in that industry can be the tiebreaker between two reputable collection agencies you are considering. 

It is important to hire an agency with an established track record of successful collections in your industry. The agency should be familiar with the terminology in your industry and with state and federal rules and regulations governing your industry, if applicable. If you're in the healthcare field, for example, the collection agency you hire must be well versed in insurance requirements, medical terms and important laws like HIPAA. 

3. Find a reputable agency.

Here are some tips to help you pinpoint a reputable, effective agency: 

  • Ask for referrals from your attorney, accountant or trusted business associates in your industry. Go beyond just asking for agency names; find out why the person recommends that particular agency. Does it have a high success rate? Is it known for its strict adherence to laws?

  • Search the directory of the Association of Credit and Collection Professionals (ACA International) to find a member agency licensed in your city or state. ACA International is a nonprofit that establishes ethical standards for the industry and requires its members to adhere to them.

  • Check the Better Business Bureau for ratings on the collection agency you are considering. One or two complaints could be a fluke; many complaints are a red flag.

  • Make sure the company is state licensed and/or bonded, if applicable. Many states require one or both.

  • Find out where the agency is licensed. If you only do business locally, an agency that is licensed only in your state is fine. If you have customers across the U.S., find an agency licensed in all applicable states.

  • Determine whether the company is insured. Errors and omissions (E&O) liability insurance is one sign of a reputable agency. E&O insurance provides coverage for consumer claims of improper conduct, such as harassment. In many cases, that coverage extends to your business. While E&O insurance is not required by federal or state laws, it's a sign of good faith.

  • Visit the collection agency. Before you commit, sit down with the collection agency to learn more about it. You can learn a lot about how trustworthy agencies are by talking to them and asking how they handle delinquent accounts. Ask to see proof of results: What percentage of debts have they successfully collected? Find out which tactics and technologies the agency uses in its collection efforts. Ask for references and check them. If the company doesn't seem like a good fit, trust your instincts and move on.

  • Don't worry too much about size. A large, national firm is not necessarily a better fit than a small, local one. It depends on your needs, the agency's strengths, its reputation and its track record.

  • Look for properly trained collectors. Agents should be experienced and skilled negotiators. Find out if the collection agency's employees receive regular education and training. Courses are available through ACA and other membership organizations. If possible, arrange to listen in on a few calls before committing to a collection agency. 

How to Work With Your Collection Agency

You want a collection agency that is a partner, not just a contractor. To that end, you'll need to invest effort into managing the relationship. The agency should be willing to meet face to face periodically to review the status of your accounts, and they should promptly return phone calls and emails, ideally within one business day. 

There's work to do on your end as well. To boost your chances of recovery money rightfully owed to you, give the agency as much information about the debtors as possible, including the following: 

  • Names, addresses and telephone numbers
  • Cell phone numbers and email addresses
  • Names of the debtor's spouse, friends, relatives and neighbors
  • Information about whether and how the debtor has responded to your debt collection efforts
  • Details about the purchase or transaction, including the date
  • Any paperwork related to the transaction, including contracts and credit applications
  • Nicknames, maiden names and aliases 

The more information the agency has, the more money you can collect.

Fair Debt Collection Practices Act

When you're choosing a collection agency, integrity and reputation are among the most important considerations. A company that uses dubious methods to collect debt damages your reputation too, costing you current and future customers. In worst-case scenarios, your company could face litigation for a collection agency's illegal practices, even if you were not aware of its actions. 

All consumer collection agencies are required to comply with a federal law regulating the industry, known as the Fair Debt Collection Practices Act. It's important for you to know the law so you can hire a collection agency that abides by its precepts and avoids FDCPA violations. 

Under FDCPA, collection agencies ...

  • Cannot call debtors before 8 a.m. or after 9 p.m., unless the debtor has agreed to it beforehand
  • Cannot call at inconvenient places. For example, if the debtor has requested to not receive calls at work, collectors can no longer call a debtor's employer.
  • Must honor letters requesting that contact concerning a debt cease.
  • Must contact a debtor's attorney if the debtor has one.
  • Cannot contact third parties (including family and friends) more than once. It can only contact the third party to find a way to contact the debtor, and it can't state that the consumer owes debt.
  • Must send the debtor validation and verification of debt.
  • Cannot threaten harm or violence.
  • Cannot threaten garnishment, seizure of property or other legal action unless the agency intends to take action (and is legally allowed to take that action).
  • Cannot make false statements, such as that the debtor has committed a crime or that the collector is an attorney.
  • Cannot send documents that look like court or legal documents but aren't. 

FDCPA only applies to consumer debt, not debt that someone accrued while running a business.

Many states require collection agencies to be licensed and/or bonded. Always find out what your state requires and check whether the collection agency you're considering is compliant. While ACA International membership is not mandatory, it does mean the agency has been vetted. 

If your account is a commercial or B2B debt, look for a collection agency that is certified by the Commercial Law League of America (CLLA) and is a member of the Commercial Collection Agency Association (CCAA). Like ACA International, both require commercial collection agencies to follow a strict code of ethics and proper accounting principles and to be bonded. 

Beyond a lack of proper licenses and certifications, another red flag is the service having been sued. It's usually easy to uncover past or current lawsuits with a simple Google search.

Frequently Asked Questions

Can a business be sent to collections?

Yes, if you fail to repay what you owe, your business can be sent to collections. Businesses are usually given 90 to 120 days to repay their debt. If they don't, the creditor can either sell the debt to a commercial debt collection agency or sue your business.

What is the difference between a debt collector and a collection agency?

When an account is past due, lenders or creditors hire a collection agency to recover delinquent debts after they've tried to recover the past due funds themselves. These companies will try to reach you using your work phone number, your personal phone number; they will send late payment notices and might possibly contact family and associates to verify a debtor's contact information. They  may even show up at your home.

A debt collector performs the same function as a collection agency but a debt collector differs in what they can do in terms of collecting past-due payments. Debt collectors are governed by the Fair Debt Collection Practices Act, a federal law that protects consumers against debt collection abuse. That law means debt collectors are more restricted in the actions they can take to collect past-due payments. For example, they can only call debtors between 8 a.m. and 9 p.m. and cannot contact debtors at their place of business if the individual has asked them – either verbally or in writing – to cease contacting them there, the deb collector must oblige.

Does a small business have any rights under the Fair Debt Collection Practices Act?

Small businesses do not have rights under the Fair Debt Collection Practices Act. However, some laws, including some states, protect businesses, and there are actions you can take to defend your rights. For example, you don't have to pay a debt to a collection agency that can't prove you owe them. You can also hire a collection attorney if your business is being hounded by a debt collector.

Why should you prioritize outsourcing your collections?

Time is money, and if you're spending a lot of it chasing down unpaid bills, that's less time you'll have to focus on operations. A collection agency is staffed with experienced professionals whose sole job is to get your debt paid. That means they often do a better job than a business owner at collecting what customers owe.

Collection agencies aren't free to use, but they tend to collect payments much faster than you could on your own. In turn, using one can increase your cash flow, reduce the number of days bills are outstanding and reduce the costs associated with keeping collections in-house, such as money spent hiring staff and the time they spend trying to collect bills.

If you go with a reputable collection agency, it can even protect your customer relations, because it lets you avoid awkward conversations with customers that might make them jump to a competitor.

What are the pros and cons of hiring a debt collector agency?

Hiring a debt collection agency has several benefits:

  • It enables you to recover past-due bills quicker than you could on your own. Debt collection agencies have tons of tools in their arsenal to get customers to pay off their debts in a timely manner.
  • A collection agency takes the pressure off you to go after deadbeat customers. The last thing a business owner wants to do is have an uncomfortable conversation with a customer about an overdue bill. When you hire a collection agency, you don't have to deal directly with the customer; the agency handles it for you.
  • Small business owners who DIY bill collections have to be careful. If you are too aggressive or use questionable tactics, you could face legal action from the debtor. But if you use a debt collection agency that is well versed in the laws governing your state, you won't have to worry about running afoul of rules and regulations.
  • A collection agency also frees you up to focus on what matters: running and growing your enterprise. The more time you spend chasing payments, the less time you spend engaging with customers or finding new opportunities to expand your operations.

However, there are also some drawbacks to using a collection agency:

  • The biggest disadvantage is the cost of employing a debt collection agency. Collection agencies charge fees ranging from 20% to 50% of your collections, depending on how much debt you need help with and how old the debt is.
  • The agencies typically don't disclose their fee on their websites, which means you have to contact them to determine just how much they charge.
  • You may lose a customer if the agency is too aggressive with them.

When should a small business hire a collection agency?

Business owners typically hire a collections agency when they have a past-due account that is more than 90 to 120 days old. They may have already made one or several attempts to collect the debt. Be aware that the longer you wait to hire a collection agency, the harder it is to recover the money you're owed. After 120 days, your chance of getting any money back is greatly reduced.

What should you look for when selecting a debt collection agency?

When you're trying to decide which collection agency to use, focus your search on your customer (consumer or commercial) and the industry you serve. There are collection agencies that collect debt from consumers only, ones that chase commercial debts, and larger agencies that do both.  Some agencies specialize in specific industries and markets, while others are generalists that can serve all businesses.

The collection agency you choose should have a good understanding of the industry you serve, know the ins and outs of state and federal rules, and have a top-notch reputation. The latter is very important because, if the collection agency is too aggressive, it could hurt your business's reputation and cause legal issues.

How Long Can a Collection Agency Attempt to Collect A Debt?

The statute of limitations on debt varies based on the state your business is operating in. It may be as little as three years or as long as 15 years, but that doesn't mean a collection agency will spend years trying to recover debt for you. The odds of collecting a debt gets slimmer as the debt gets older; a bill several months past due is more difficult to recover than one that is 90 days past due.

Are You Responsible for a Debt You Sold to A Collection Agency?

Once a business owner sells a past-due debt to a collection agency, it is out of their hands. The collection agency pays a percentage of the debt to the business and then pursues payment from the debtor on their own. The agency believes they can recoup all of it – or at least enough of it to make a profit.  When you sell a debt to a collection agency, you usually get pennies on the dollar.

How Collection Agencies Use Technology to Recover Money

The best collection agencies use tools such as technologies, partnerships with other agencies and attorneys, and a highly skilled and trained staff to recover money owed to your business. Here's more about the tech they use to locate debtors and recoup money owed to you. 

  • Skip-tracing services locate customers who are hard to find. Typically, agencies consult databases that allow the collection firm to find debtors who have moved without leaving a forwarding address. Many agencies offer this service, but some provide advanced features that allow them to find even the hardest people to locate. If an agency does not offer skip tracing, it will have a much harder time finding debtors who have moved or fled the state, and the chance of you recovering any money is very slim.

  • Today's tech lets you go beyond phone calls and snail mail; collection firms work more directly with debtors to negotiate payments. These strategies appeal to younger debtors and those who are uncomfortable discussing their payment obligations over the phone.

  • Algorithm-based collections tailor collection strategies to the debtor. Collection agencies can build a profile to better understand the debtor and the right way to resolve the debt. Often, email is the first form of communication, rather than a formal letter.

  • Online access allows you to quickly submit new delinquent accounts, monitor the status of current accounts, communicate with the agency and run reports on the status of your collections. This is especially helpful if you have multiple past-due accounts and time is of the essence. 

What to Expect in 2020

The collection agency industry is in for some changes as the cost of payroll increases, commission rates decrease, the rules and regulations regarding debt collections tighten, and acquisitions, mergers and closures take place. New rules and regulations have passed that affect how collection agencies contact consumers.

In late 2019, the U.S. Court of Appeals for the Seventh Circuit ruled against the Consumer Financial Protection Bureau's collection proposal, which would have allowed collectors to send consumers disclosures indirectly through hyperlinks. Instead, debt collectors must clearly identify themselves by providing pertinent information upfront, such as the amount of debt owed and the name of the creditor they are representing. Before 2020 is over, the CFPB may propose other modifications and clarity on how agencies can collect consumer debt.

April 2020: Collection service agencies have changed their pace in the wake of COVID-19. While some collection agencies are allowing employees to work remotely, others have had no choice but to temporarily shut down, as a few states are limiting the work they can do.

For example, Massachusetts has banned debt collectors from making collection calls, filing new collection lawsuits, garnishing wages or earnings, or repossessing property and vehicles. In Illinois, debt collectors must work with consumers to create payment plans that work with clients' financial situations or delay collection for 60 days, according to the Illinois Department of Financial and Professional Regulation.

The federal government is also taking steps to limit the work debt collection agencies can do during these unprecedented times. A bill has been introduced in the U.S. Senate that, if passed, would only allow debt collectors to communicate with consumers in writing during a major disaster, such as the current coronavirus pandemic. The limitations on collection agencies would last for 120 days from when the president declares a major disaster.

May 2020: Debt collection agencies are looking to the court system more than ever to help them collect past-due funds. According to a Pew Charitable Trusts report, debt lawsuits grew from 1 in 9 civil cases to 1 in 4 by 2013, and within the past decade, collections suits rose from 1.7 million to 4 million. According to the Consumer Financial Protection Bureau, 15% of Americans claimed they were sued by a debt collector. 

As more and more collection agencies are finding success in the court system, we expect this trend of using the legal system to their advantage to continue.

June 2020: The Bureau of Consumer Financial Protection is looking to hear from the public on proposed legislation that would require debt collection agencies to notify debtors that they cannot be sued for an expired debt. However, the proposed law also states that if consumers make any kind of payment toward their expired debt, it will be reactivated, and collectors may sue.

In an article for The Atlanta Journal-Constitution, Jack Brown, president of ACA International – a national trade group of collection agencies, creditors and attorneys – said his group is opposed to the new law because they believe it will scare consumers into thinking legal action is being taken against them when it is not. 

"It's a well-intended measure, (but) then you take that next step, and it's a very murky area," Brown told the AJC. 

The public has until Aug. 4 to submit their thoughts on the proposed policy.

Our Methodology

To determine the best collection agencies for small businesses in 2020, we spent dozens of hours researching the top services. Here is an explanation of our selection process.

Locating the Best Services

To find the best collection agencies for small businesses, we started by looking at the services that appear on reputable online sources, such as review and business websites. We also conducted our own research into the industry to find others. We examined more than 30 collection agencies in all. (See our full list of collection agencies and their websites below.)

Choosing the Best Services

After our early research, we whittled our list down to 17 candidates for our best picks: Account Management Systems; Alexander Miller & Associates; Aspen National Collections; Benjamin Michael & Associates Inc.; Credit Management Company; Martini, Hughes & Grossman; National Service Bureau; Prestige Services Inc.; Rapid Recovery Solution; Rocket Receivables; Rozlin Financial Group; Summit Account Resolution; The Kaplan Group; Tucker, Albin & Associates; Vengroff Williams Inc.; and Your Collection Solution.

Researching Each Service

We further narrowed down the list based on different use cases and the criteria we set (see Analyzing Each Service). As part of our research, we reviewed each agency's website, compared services and prices, and read user reviews. Posing as small business owners, we contacted the agencies' customer service and sales teams to gauge the quality of service and obtain more information than was accessible online.

Skye Schooley
Skye Schooley,
Business News Daily Writer
See Skye Schooley's Profile
Skye Schooley is an Arizona native, based in New York City. She received a business communication degree from Arizona State University and spent a few years traveling internationally, before finally settling down in the greater New York City area. She currently writes for and Business News Daily, primarily contributing articles about business technology and the workplace, and reviewing categories such as remote PC access software, collection agencies, background check services, web hosting, reputation management services, cloud storage, and website design software and services.

Here is a full list of collection agencies and a summary of what each company claims to offer. This alphabetical list also includes our best picks. 

Account Management Systems – AMS collects commercial debts. Based out of Tampa Bay, this debt collection service collects debts nationwide, charges no upfront or sign-up fees, and only collects money if it recoups your debts. 

Alexander, Miller & Associates LLC – Alexander, Miller & Associates is a national agency that specializes in large-balance collections. It offers demand letters, commercial credit reports, onsite investigations, prelitigation services and skip tracing. The company states that it has collectors who specialize in trucking transportation and freight, wholesale seafood and produce, restaurant supply, and heavy equipment rental. 

Asset Compliant Solutions – Asset Compliant Solutions is a commercial collection agency that offers standard collection services as well as 45-day delinquent secured collateral loans, unsecured open and revolving lines of credit, and an online portal. 

Atradius Collections – Although Atradius Collections is primarily a U.K.-based commercial collection agency, it also has a base in the U.S. It specializes in multinational accounts and offers collection services to over 30 countries. It has a very high return rate. To get a free quote on pricing, you can access its online portal.

Aspen National Collections – Aspen National Collections works with timeshare and education industries, as well as municipalities and utilities, to collect outstanding debts. It tailors its debt collection strategies to each client. This agency's website has an online portal where you can log in and monitor the progress of your past-due accounts. 

Benjamin Michael & Associates Inc. – Benjamin Michael & Associates is based in New York City. The firm utilizes techniques such as demand letters, skip tracing, and reports on demand to help you recover debt from delinquent accounts. 

Credit Management Company – Founded in 1966, Credit Management Company recovers debts for government, healthcare, higher education, financial services and commercial businessesIt has an online system for debtors to make payments. In also offers claim resolution services. 

Debt Recovery Resources – This is a full-service debt collection agency that not only helps recover debts but can help its clients improve their internal debt collection processes. Debt Recovery Resources can manage accounts receivable, perform free legal background checks and find debtors. 

FCR Collection Services – Powered by FEDChex, FCR Collection Services offers several payment solutions to companies nationally. Its services include check verification, automated clearinghouse, remote deposit capture, electronic payments and risk management. 

Hunter Warfield – This collection agency serves a variety of industries, including property management, medical offices, financial services and commercial collections. This collection agency is best suited for businesses that provide credit on goods or services or have extended, relationship-based contracts. 

Martini, Hughes & Grossman – Martini, Hughes & Grossman offers custom approaches to debt collection. It has in-house legal advisors, uses skip-tracing technology, sends bimonthly status reports, and collects on both B2B and B2C accounts. It can track down debt nationally and internationally and is accredited with the Better Business Bureau. 

National Service Bureau – National Service Bureau helps with both B2B and B2C collections. It offers precollections, third-party collections, letter services, litigation, and skip tracing to a variety of industries, including commercial, education, financial, insurance, medical, telecom and utilities. 

*Prestige Services Inc. – PSI is our choice for the best B2B collection agency. It provides commercial collection services throughout the U.S., Mexico and Canada. It provides professional skip tracing to help locate debtors, and it can investigate businesses. If the debtor won't pay even after all of PSI's efforts, the agency can forward the account to an attorney in the debtor's area. 

Rapid Recovery Solution – Rapid Recovery Solution provides collection services both nationally and internationally. It caters to all commercial accounts and medical billing accounts, using a four-step system to collect funds from debtors. 

Revenue Assurance Partners – This solution customizes its service to your business. You can outsource as many or as few internal processes as you want. The company states it has over 50 years of experience collecting past-due accounts. It also provides auditing, reporting, legal forwarding and other collection services. 

Rocket Receivables – This debt recovery agency supports collections for small and midsize businesses. It focuses primarily on the healthcare, education, professional services, residential, commercial, contracted services, trade and general retail industries. It has fixed fees for newly delinquent accounts and contingency pricing for older accounts. 

Ross, Stuart & Dawson Inc. – This commercial collection agency provides services to businesses throughout the U.S. It can help you with follow-up letters and statements, soft calls, credit reports, and portfolio liquidation services. 

*Rozlin Financial Group Inc. – RFGI is our choice for the best B2C collection agency. It uses a tailored approach to connect with debtors, including phone, mail, email and online chat. It serves various industries, including dental and medical offices, hospitals, schools, property management companies, utilities, retailers, and lending service companies (e.g., credit cards, auto loans and mortgages). It is accredited by the Better Business Bureau. 

Smyyth LLC – Smyyth Collections LLC, partnered with Leib Solutions LLC, is a commercial collection agency that serves a variety of industries, including commerce, property and casualty insurance, health insurance, healthcare, law firms, and CPAs. It provides basic features like first- and third-party collections, collection letters, and call services, plus more advanced techniques like accounts receivable management and revenue cycle consulting. 

*Summit Account Resolution – This agency is our pick as the best collection agency for small businesses, and it serves both consumer and commercial collections. It offers an online portal, a skip-tracing department and litigation services. Once you sign up with this agency, you receive an account manager who is available to answer all your questions. 

The Kaplan Group – The Kaplan Group is a commercial collection agency that specializes in international, judgment and large-balance claims. It requires a minimum of $1,000 to be collected on and has low contingency rates. It provides advanced collection services, such as background investigations, credit analysis, skip tracing, legal services and payment plans. 

TSI – This agency provides collection services for commercial, education, financial, government, and healthcare industries for both SMBs and enterprises. It provides basic collection services like demand letters, calls, and payment reminders, as well as more advanced services, such as first- and third-party accounts receivable management options and skip tracing. 

Tucker, Albin & Associates – This B2B collection agency has a network of over 500 private investigators and attorneys to help with debt collections across the globe. It uses a tailored approach to collect on commercial debts. 

Vengroff Williams Inc. – This agency focuses on four specific collection areas: credit to cash, subrogation, revenue cycle management and collections business process outsourcing. It offers services such as first- and third-party collections, nationwide subrogation management, and claim recovery. 

VeriCore – This international collection agency focuses on recovery, reporting and remittance. It takes a tailored approach to each collection account, ranging from soft to assertive. 

Verliance Inc. – Verliance Inc. is a BBB-accredited collection agency that focuses primarily on the insurance industry. It offers many advanced collection services like first- and third-party collections, benchmarking data, credit checks, delinquency rate modeling, and asset searches. 

Your Collection Solution – This collection agency collects consumer and commercial debts. It has a contingency-based fee structure. Though headquartered in Florida, Your Collection Solution can work to recoup debt in the U.S. and several other countries. The company states its management team has over 30 years of experience in the industry. 

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