Meagen SetterTop 5 Debt Recovery Agencies in Vancouver
So here we are. You’re having trouble getting your money back, and it turns out you may need to do a little more than nudge your debtor to pay up. Well, we hear ya. We know how frustrating this can get so we sought some help.
We’ve scoured the top debt recovery agencies in Vancouver so you can consider having professionals collect debts on your behalf, so you won’t have to stress yourself out trying to chase down your debtor.
Vancouver’s Top Debt Recovery Agencies
When evaluating debt collection agencies and their debt recovery services, it’s essential to consider whether they’re reputable, effective, and compliant with legal regulations.
That’s why we’ve assessed the following agencies based on the criteria below to make sure you’re dealing with a legitimate business that has your best interests in mind.
1. ICON Debt Solutions Inc.
13406
| CRITERIA | RATING |
| Range of Services | ★★★★☆ 4/5 |
| Reputation | ★★★★★ 5/5 |
| • Years in Business | ★★★★★ 5/5 |
| • Credentials | ★★★★★ 5/5 |
| Legal Compliance | ★★★★★ 5/5 |
| Customer Service | ★★★★☆ 4/5 |
| • Success Rates | ★★★★☆ 4/5 |
| • Transparency | ★★★★★ 5/5 |
ICON Debt Solutions Inc. was established back in 2005, and they’re all about handling debt recovery and related management services in Vancouver.
The company is licensed with consumer protection in British Columbia, which means that they adhere to strict regulations and guidelines when it comes to debt collection.
Also, they’ve got a good grasp of both provincial and federal rules and regulations, which is definitely a plus.
As for their rates, ICON charges a 30% flat fee for their services, which we thought was pretty competitive as it includes all aspects of the debt recovery process.
We’re just a bit iffy that they only have a 75% success rate. We were also a bit bummed that they only serve Canadian clients, so you may want to consider other options if you have international debt.
Nevertheless, we liked that ICON Debt Solutions Inc. has worked with numerous reputable companies such as Equifax, Transunion, and Amrita Grewal Notary Co., as this establishes their credibility and expertise in the industry.
On a whole, we think ICON Debt Solutions Inc. is one of the top debt recovery agencies in Vancouver, as they have good knowledge of provincial and federal laws and have worked with various reputable organizations.
Pros
- Licensed by the Consumer Protection BC
- Has worked with numerous reputable companies
Cons
- Only has a 75% success rate
Customer Reviews
Hardworking agents
“Icon debt helped me a lot to cover my pending payments for long time. their services are really and also they are very keen to their work and hardworking.”
-Saskinder G.
Great communication and customer service
“I am beyond satisfied to have used ICON debt solutions to collect outstanding debt from my appliance repair business. ICON’s open communication and superior customer service made me feel confident in hiring them.”
-Kathleen P.
2. MetCredit
| CRITERIA | RATING |
| Range of Services | ★★★★☆ 4/5 |
| Reputation | ★★★★★ 5/5 |
| • Years in Business | ★★★★★ 5/5 |
| • Credentials | ★★★★★ 5/5 |
| Legal Compliance | ★★★★★ 5/5 |
| Customer Service | ★★★★☆ 4/5 |
| • Success Rates | ★★★★☆ 4/5 |
| • Transparency | ★★★★★ 5/5 |
MetCredit, a debt collection agency based in Vancouver, has been in business since 1973. It’s quite impressive that they can assist not only small businesses but also medium-sized enterprises and large corporations.
First and foremost, MetCredit has extensive experience collecting debts for a wide range of industries, and we were even more impressed that they have an in-house legal department for those complex cases that require legal action.
However, what really stands out about MetCredit is their use of proprietary AI algorithms and predictive intelligence. This allows them to determine the optimal time when a debtor is most likely and capable of making a payment.
In simple terms, MetCredit’s advanced technology enables them to analyze data and predict the debtor’s financial situation accurately, which we thought was very impressive.
We also appreciate how easy it is for clients to send multiple overdue accounts for collection online, as MetCredit’s online file submission tool is very straightforward and user-friendly.
It’s also convenient that they have 24/7 online chat support available for any inquiries or assistance needed, so clients can receive immediate help whenever they need it.
All these factors make MetCredit one of the top debt recovery agencies in Vancouver, so if you’re looking for one, they’re one of the best choices.
Pros
- Over 45 years in business
- Has in-house legal department
- Uses applied artificial intelligence
Cons
- Only caters to businesses
Customer Reviews
Understanding and helpful
“It was really nice working with Met credit. Their representative named Shashank Bansal helped me a lot throughout the journey with them, he understood my family and financial condition…”
-Kartik K.
Honest communication
“Thank you very much! This time we are asking for advice on the communication process of honesty cases, and I feel that there has never been such a perfect communication method…”
-Biao C.
3. IRS Collections
| CRITERIA | RATING |
| Range of Services | ★★★★★ 5/5 |
| Reputation | ★★★★☆ 4/5 |
| • Years in Business | ★★★★★ 5/5 |
| • Credentials | ★★★★☆ 4/5 |
| Legal Compliance | ★★★★★ 5/5 |
| Customer Service | ★★★★☆ 4/5 |
| • Success Rates | ★★★★★ 5/5 |
| • Transparency | ★★★★☆ 4/5 |
In-House Receivable Services, commonly known as IRS, is all about handling large commercial debt collections. On top of that, they’ve also got quite a comprehensive range of offerings.
This includes integrated skip tracing, process serving, bailiff services, accounts receivable management, and a bunch of other collection services.
They’ve been operating since 1997, and they cover Vancouver and other surrounding cities such as Richmond, North Vancouver, Burnaby, Langley, Abbotsford, and Surrey.
The IRS offers law firm services alongside their collection services, and we found that to be a fantastic added benefit.
It’s also quite impressive that they have in-house skip tracers that specialize in locating debtors and conducting asset investigations. It gives clients peace of mind knowing that the IRS has the know-how to track down debtors and discover their assets.
It’s also handy that clients have 24/7 online access to their accounts, so they’re able to see collector notes in real time, which strengthened the positive impression they left on us.
If you’re looking for one of the top debt recovery agencies in Vancouver, we highly recommend the IRS for their expertise in skip tracing and asset investigations.
Pros
- Comprehensive range of debt collections
- Also offers law firm services
- Has in-house skip tracers
Cons
- Some complaints about responsiveness
Customer Reviews
Effective services
“At my witts-end trying to collect a substantial invoice almost 8 months overdue I turned to IRS for help. I hired IRS on a Tuesday and had the invoice paid 4 days later…”
-Ken M.
Very thankful for their services
“I hired Sinclair at In-House Receivable Services for a personal matter and I could not thank her enough for the teams efforts to help me…”
-Michael A.
4. National Recovery Corp.
| CRITERIA | RATING |
| Range of Services | ★★★★★ 5/5 |
| Reputation | ★★★★☆ 4/5 |
| • Years in Business | ★★★★★ 5/5 |
| • Credentials | ★★★★☆ 4/5 |
| Legal Compliance | ★★★★★ 5/5 |
| Customer Service | ★★★★☆ 4/5 |
| • Success Rates | ★★★★★ 5/5 |
| • Transparency | ★★★★☆ 4/5 |
National Recovery Corp. (NRC) is a Canadian debt collection agency that caters to various sectors, including business-to-business, retail, government, and non-profit organizations.
They focus solely on debt recovery, and since they’re a contingency based agency, they only charge a fee if they successfully recover the debt, which we found reassuring.
It’s also impressive that they have experience dealing with all kinds of government debt, including federal, provincial, and municipal. This demonstrates their expertise and ability to navigate complex debt collection processes.
The company’s diverse client base is also what caught our attention, as they’ve worked with various industries such as financial, healthcare, government, property management, construction, manufacturing, and many more.
Based on what we’ve seen, NRC stands out for providing regular reports and communication, including assignment acknowledgements, payment notifications, and inventory reports. We found that to be quite remarkable.
We liked that the NRC has an on-site privacy office, and we think you will too. We think this ensures that the handling of sensitive information is done securely and in compliance with privacy regulations.
Ultimately, we think the NRC is a pretty solid choice if you’re looking to get assistance collecting debts on your behalf.
Pros
- Focus solely on debt recovery
- Contingency based agency
- Has experience dealing with all kinds of government debt
Cons
- No 24/7 customer support
Customer Reviews
Responsive
“I’ve been working with Murray and Lauralea. Both are amazing. They make a great team! Looking forward to working with them. Many thanks to Lauralea for answering my many questions.”
-Danielle A.
Professional
“We started off a little rocky, but it was professionally handled,even cordial. No complaints.”
-Barbara S.
5. Optimal Collections
| CRITERIA | RATING |
| Range of Services | ★★★★★ 5/5 |
| Reputation | ★★★★☆ 4/5 |
| • Years in Business | ★★★★★ 5/5 |
| • Credentials | ★★★★☆ 4/5 |
| Legal Compliance | ★★★★★ 5/5 |
| Customer Service | ★★★★☆ 4/5 |
| • Success Rates | ★★★★☆ 4/5 |
| • Transparency | ★★★★★ 5/5 |
Optimal Collections, a debt collection agency based in Vancouver, has been in operation for more than 25 years, catering to both Canadian and international clients.
Perhaps what impressed us the most about this company is their transparency, as they display all their fees and charges upfront on their website. We thought this was handy so clients could make informed decisions.
Apart from the usual debt collection services like individual, commercial, and judgment debts, Optimal Collections also handles process serving, making them ideal for clients who require a comprehensive range of legal support services.
Additionally, they also have heir search services for individuals who need help locating and contacting missing or unknown heirs for various reasons, like estate settlements or will contests.
One criticism we encountered was that they don’t have an online portal where clients can check the collection status of their debts in real-time.
However, we liked that they have ready-to-download collection forms on their website for clients to easily initiate the debt collection process.
Overall, we’re happy with what we’ve seen, and we’re confident in recommending Optimal Collections for your debt collection needs.
Pros
- Serves Canadian and international clients
- Also handles process serving
Cons
- No online client portal
Customer Reviews
Exceptional and prompt service
“They have helped us numerous times with exceptional prompt service and no task was too small or too big…”
-Suzanne D.
Professional and sensitive towards clients
“Optimal Collections helped me to collect on several occasions all with varying circumstances. Michelle is professional and I trust her and her team with our most sensitive clients. Great work.”
-Mike C.
FAQs about Debt Recovery Agencies in Vancouver
That’s about it. We hope that this article has helped you find a company that can help you with debt recovery. Now, here are a few related articles that you may find useful regarding financial hiccups.
