Frequently asked questions

• What do I need to know when choosing a debt collector?

  Only registered debt collectors are allowed to collect outstanding debts. The register is active and allows you to search for any registered debt collector by surname, area code or company name. All the debt collectors that will be recommended to you by Procompare are registered.

• When is it too soon to hire a debt collector (agency)?

  It is better to hire a debt collector sooner than later, but generally speaking the appropriate time to reach out is when an account is 90 days and over. At this point, most creditors have already broken the terms and conditions of the credit granted and the relationship has soured.

• How much will a debt collector cost me?

  Each agency has a somewhat different (but similar) fee structure. Some collection agencies charge a percentage based on the amount they collect, while others charge a fixed rate based on the size of the debt. It’s normal for the type of the debt to also be a factor, based on the risk factor.