Collection Agency refers to a company that negotiates with a debtor in response to a request from a creditor to collect delayed loans. If you can successfully recover the debt, you can claim a commission of the recovered amount as a success fee.
The success fee is called a Contingent Fee. Generally, the rate is around 15-40%. It is a fair amount of money that cannot be compared with premiums, etc., but it is not a good deal because it is a troublesome process compared with insurance, which is a prior risk hedge. In addition to the contingent fee, basic fee or an annual fee may also be required. If you become a member of Collection Agencies, you can rely on the collection agency. However, there is no need for advance payment, start money, etc., and only the success reward on recovery.
The existence of the basic fee or annual fee varies depending on the company. In addition, the rate of a contingent fee also varies. Among them, there are companies whose contingent fee is set 30% uniformly. Anyway, the point where it does not cost other than that also leads to the height of convenience.
If you search for "Collection Agency" on the Internet, many companies will be listed. You may want to find one that suits your company.
By the way, Japanese servicers are servicers in English, but they are not debt collection agencies but specialized companies that securitize debts. One can search for servicer over the internet and only Japanese servicers would be listed. It is hard to understand why they named “servicers” instead of collection agencies.
