So here we are. When you want to get your money back, it appears that you might need to take more steps beyond simply nudging your debtor to make payments. We understand, though. We asked for assistance since we were aware of how annoying this might be. You can think about hiring experts to collect debts on your behalf, so you will not have to worry about wearing yourself out trying to track down your debtor. We have combed through the best debt recovery companies in Vancouver.
Vancouver’s Top Debt Recovery Agencies
It is critical to assess debt collection agencies’ credibility, efficacy, and compliance with legal requirements while assessing their debt recovery services. Because of this, we have evaluated the agencies listed below using the standards listed below to ensure that you are working with a reputable company that is looking out for your best interests.
In This Article
Range of Services: In this criterion, we examine the variety of debt recovery services offered by the agencies.
Reputation
• Years in Business: We included businesses that have over five years of experience in the debt recovery industry to ensure they have a proven track record.
• Credentials: We took a look at the credentials and certifications held by the agencies, such as being licensed and bonded, to ensure they meet industry standards.
Legal compliance: In this criterion, we look into whether or not these agencies comply with local and national debt collection laws and regulations.
Customer Service
• Success Rates: We asked about the success rates of these agencies to determine their effectiveness in resolving debt recovery cases.
• Transparency: We selected debt recovery agencies that are transparent with their fees, payment terms, and processes.
1. ICON Debt Solutions Inc.
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 |
Founded in 2005, ICON Debt Solutions Inc. specializes in providing debt recovery and associated management services in Vancouver. The business complies with stringent rules and regulations on debt collection because it holds a consumer protection license in British Columbia. It is also a benefit that they understand both provincial and federal laws and regulations well. ICON charges a 30% flat price for their services, which we found to be rather competitive considering that it covers every facet of the debt recovery procedure. The fact that their success rate is only 75% makes us a little uneasy. We were also a little disappointed that they only assist Canadian customers; if you have foreign debt, you might want to look into alternative possibilities. However, we found it admirable that ICON Debt Solutions Inc. has collaborated with so many respectable organizations, including Amrita Grewal Notary Co., Equifax, and Transunion, as this shows their legitimacy and experience in the field. Overall, we believe that ICON Debt Solutions Inc. is among the best debt recovery companies in Vancouver because of their solid understanding of both local and federal legislation and their track record of working with respectable institutions.
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 good, and they are also 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
Test | Info |
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WEBSITE | https://www.metcredit.com/ |
ADDRESS | 475 W Georgia St #430, Vancouver, BC V6B 4M9, Canada |
SOCIAL MEDIA | Facebook |
CONTACT DETAILS | Phone: +1 604-684-0558 |
OPERATING HOURS | Monday to Thursday: 8am to 5pm Friday: 8am to 4:30 p.m. |
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 |
Established in 1973, MetCredit is a Vancouver-based debt collection organization. Their ability to support not only small businesses but also medium-sized firms and major multinationals is really outstanding. First and foremost, MetCredit has a wealth of experience pursuing debt collection for a variety of businesses. What further struck us was the company’s internal legal department, which is available for complicated instances that call for legal action. But MetCredit’s usage of in-house AI algorithms and predictive intelligence really sets them apart. This enables them to ascertain the best moment to collect from a debtor when they are most likely and able to do so. To put it simply, MetCredit’s cutting-edge technology allows them to evaluate data and make precise predictions about the debtor’s financial status, which we found to be very astounding. We also like how simple and easy it is for customers to submit several past-due accounts for collection online, thanks to MetCredit’s user-friendly online file submission facility. Additionally practical is their round-the-clock online chat service, which allows customers to ask questions and get help whenever they need it. MetCredit is among the greatest debt recovery companies in Vancouver because of all these qualities, so if you are looking for one, they are a great option.
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 in honesty cases, and I feel that there has never been such a perfect communication method.
-Biao C.
3. IRS Collections
Test | Info |
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WEBSITE | https://irscollections.ca/vancouver-collection-agency |
ADDRESS | 885 West Georgia Street, Suite 1480, HSBC Building, Vancouver, BC V6C 3E8 |
CONTACT DETAILS | Phone: 877-282-0197 Email: irs@irscollections.ca |
OPERATING HOURS | Monday to Friday: 9am to 5pm |
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 |
The main focus of IRS, or in-house receivable services, is managing significant commercial debt collections. Additionally, they provide a rather wide range of products and services. This covers a wide range of collection services, such as integrated skip tracing, process serving, bailiff services, and accounts receivable administration. They service Vancouver and other nearby communities like Richmond, North Vancouver, Burnaby, Langley, Abbotsford, and Surrey. They have been in business since 1997. We thought that the IRS’s provision of law firm services in addition to its collection services was a great bonus. Their in-house skip tracers, who are experts in finding debtors and conducting asset investigations, are another impressive feature. Knowing that the IRS has the resources to locate debtors and find their assets offers clients comfort. The fact that customers can view collector notes instantly and have round-the-clock online access to their accounts is also convenient, and it contributed to the good impression they made on us. Because of their proficiency in asset investigations and skip tracing, we heartily suggest the IRS as one of the best debt recovery companies in Vancouver.
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 wits 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.
I am 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.
Test | Info |
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WEBSITE | https://nrccollections.ca/ |
ADDRESS | 150 Water Street Unit #102, Cambridge, ON, N1R 3E2 |
SOCIAL MEDIA | |
CONTACT DETAILS | Phone: 877-476-4040 |
OPERATING HOURS | Monday to Friday: 8am to 4:30 |
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 |
The Canadian debt collection company, National Recovery Corp. (NRC), serves a range of industries, including retail, government, non-profit, and business-to-business. We found it comforting that they are a contingency-based business that only charges if they are successful in recovering the amount. They concentrate entirely on debt recovery. Their proficiency in handling various types of government debt, including federal, provincial, and municipal debt, is noteworthy as well. This indicates their proficiency and aptitude in handling intricate debt recovery procedures. Our attention was also drawn to the company’s wide range of clients; among these are financial, healthcare, government, property management, construction, manufacturing, and many more industries. From what we have observed, NRC stands out for offering consistent reporting and correspondence, such as payment notifications, assignment acknowledgements, and inventory reports. We thought that was quite amazing. We thought the NRC’s on-site privacy office was great, and we believe you will too. This, in our opinion, guarantees that private laws are followed and sensitive data is handled safely. In the end, we believe that the NRC is a really good option if you want help 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! I look 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
Test | Info |
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WEBSITE | https://optimalcollections.com/ |
ADDRESS | Suite 210, 3989 Henning Drive, Burnaby, BC V5C 6N5 |
CONTACT DETAILS | Phone: 604-298-7565 Email: optimal@uniserve.com |
OPERATING HOURS | Monday to Friday: 9am to 5pm |
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 |
Vancouver-based Optimal Collections is a debt collection business that has served clients from across Canada and beyond for over 25 years. The fact that this business is transparent and lists all of its fees and charges up front on their website is probably what most impressed us about them. We believed that this was helpful in enabling clients to make wise choices. Optimal Collections is the best choice for clients who need a wide range of legal assistance services since they not only manage judgment, commercial, and individual debt collection, but they also handle process serving. For those who require assistance finding and getting in touch with absent or unidentified heirs for a variety of reasons, such as estate settlements or will disputes, they also provide heir search services. One complaint we heard was that they did not have an online portal where customers could examine the status of their debt collections in real time. On the other hand, we like that their website offers pre-filled collection forms that customers may download to start the debt collection process quickly. All things considered, we are pleased with what we have observed, and we can confidently suggest Optimal Collections for your debt collection requirements.
Pros
- Serves Canadian and international clients
- Also handles process serving
Cons
- There is 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 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.