As the owner of a successful business, you are probably aware of the importance of striking the right balance between ethics and competitiveness. To play dirty just to win over the competition may help you boost profits over the short run. However, you are likely to face a lot of problems over the long run, which, ultimately, will leave you regretting your decision.

You need to strike a similar balance when comparing competitive debt collectors for your business. Debt owed to you is your hard-earned money and it is your right to take all possible steps to recover the same. It would be just great if we lived in a world where people paid their debts on time. Sadly, the real world is not as honest and straightforward and an aggressive debt collection strategy is a must for your business.

Yet, there are some limits that your business and debt collectors appointed to represent you should not cross. Otherwise, you will end up with a huge PR problem despite recovering the money owed to you. So, keep the following factors in mind when comparing competitive debt collectors.

Look for an affirmation to professional and ethical principles. A firm that feels that such an affirmation is unnecessary is best avoided. While it is easy to glibly talk of respecting the law and applicable rules and regulations, a firm that does not even voice its commitment can prove to be a risky proposition for your business.

Secondly, focus on the firm’s track record in collecting debt. A firm that can do a good job of recovering debt only when violating the rules is unlikely to be useful for you. The law provides ample opportunities for a professional collection agency to do a very good job recovering money from debtors. So, make sure the firm does not use laws and applicable rules as an excuse for not doing a good job.

Third, focus on a firm where the owner of the business exercises direct control over the operations. Otherwise, there is a risk of disconnect between the owner of the firm and its employees. The owner may make lofty promises of following the law and its employees, the ones who actually contact and negotiate with your customers, may be completely unaware of the applicable rules.

A good collection agency can help you save a lot of money that would have otherwise ended up as bad debts. The right agency will ensure you don’t pay with your reputation or credibility in your efforts to recover your debts in a timely manner.