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The All-Inclusive Collection Agency: 12 Things Clients Get for Free

Collection Agencies  |  3 min read

It’s no secret that MetCredit reduces your risk and costs when you send overdue accounts for collection.

But what is less-known, even to some longtime clients, is just how many significant things we offer for free, regardless of whether or not we are successful at collecting a given account. (Spoiler alert: we usually are!)

The reality is that not all past-due accounts can be collected, and recoverability decreases with every day you wait. Very old or statute-barred accounts, for that reason, are invariably the hardest to collect.

Debtor businesses sometimes run entirely out of funds, and can owe a great deal of money to the CRA and secured creditors. If the credit grantor in those cases has no security, it can be hard to apply any leverage, and even credit bureau reporting carries relatively little clout to a corporation that has ceased operations forever due to insolvency.

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If you use another avenue, such as suing the customer in court, you can expect to receive a bill from your lawyer, for hourly fees and a long list of possible disbursements. Even if you never stood a snowflake’s chance in Vegas of collecting, you’ll be on the hook to pay those fees.

At MetCredit, that’s not the way it works. We cover most expenses upfront.

It gives us a strong incentive to succeed in collecting on your behalf. And it offers tremendous value to our clients.

Here are just 12 of the many things MetCredit clients get for free, included in our services for every account you send our way.

  1. 24/7 online access to load unlimited files, send accounts day or night and see all your files in one place
  2. Full commercial and consumer credit bureau reporting to Equifax, Transunion, Dun & Bradstreet as well as regional and specialized industry-specific credit bureaus
  3. Credit bureau monitoring
  4. Credit inquiries on accounts assigned for collection
  5. Telephone, email, SMS text message and postal campaigns to reach debtors for payment—in the way they prefer to communicate
  6. Comprehensive skip-tracing services to locate hard-to-find debtors
  7. Corporate searches as necessary
  8. Couriers and 3rd party disbursements for non-litigation files
  9. Secure data transfer of client information
  10. Flexible debtor payments by credit card, Interac eTransfer, Interac Online, debit card, online & telephone banking, LoadHub, Western Union, company cheque—an unmatched number of ways for people to pay you!
  11. Call centres located in Canada, not offshore
  12. Customer Service Team available to clients 24/7

Some of these points in themselves contain more than meets the eye. For example, no other Canadian collection agency reports to a greater number of credit bureaus, especially the highly specialized industry-specific ones that we do.

Reporting unpaid debt to credit bureaus (and updating the reports when the debtor pays in full) is costly and time-consuming for us — and is a service not even available through a lawyer or even from all collection agencies. It provides you valuable leverage against debtors, because an unpaid file in collections hurts the debtor’s credit score and can make it impossible to get a credit card, loan, mortgage, vehicle lease or even certain kinds of jobs.

Another significant cost savings is in disbursement costs. While law firms typically charge marked-up fees for out-of-pocket costs like searches, applications, correction of errors, service of documents, execution of court orders, court fees, judgment certificates, couriers, photocopies, travel, postage and other items, we cover these items for you. (When we do take a debtor to court, as a last resort in a small percentage of cases, legal fees that apply are minimized by our efficient in-house legal team.)

All in all, it’s an amazing value for our clients.

If you haven’t experienced MetCredit’s quick collection and industry-leading capabilities, give us a try. I know you’ll be impressed.

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Brian Summerflet Author: Brian Summerfelt

President and CEO of MetCredit, Canada's top-performing consumer and commercial collection agency

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