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CollectionsEvery "best collection agency" list ranks someone first. This one doesn't. It gives you the 8 things that decide whether an agency is right for your accounts, the types of provider you'll meet, and a dated, alphabetical list of firms buyers often shortlist, TSI included.
The best collection agency for your business is the one licensed where your customers live, experienced with your type of debt, priced so you keep more after fees, and able to show its complaint record and call monitoring. Compare agencies on net-back (what you keep after fees), compliance controls, reporting and data security, not on a published "recovery rate."
There are thousands of collection agencies in the US, from one-office shops to national firms. Most "best of" lists are written by an agency about itself, or by a directory paid by the firms it lists. Use the criteria below to make your own short list, then test 2 or 3 finalists on a slice of your accounts.
| Criterion | What to ask | Why it matters |
|---|---|---|
| Licensing | Which states are you licensed or registered in? Can I see the list? | An unlicensed agency can make your accounts uncollectible and expose you in the states that require a license |
| Fit with your debt | What share of your book is my industry, balance size and placement stage? | Medical, utility, commercial and credit card debt each follow different rules and need different scripts |
| Net-back | What do I keep per $100 placed, after your fee, at each stage? | A lower fee with lower liquidation can leave you with less |
| Compliance controls | Who scores your calls, and who do they report to? How many calls get reviewed? | You answer for what your agency does in your name |
| Complaint record | How many complaints per 1,000 accounts? Can I see your log and root-cause fixes? | Complaints are the earliest sign of a problem |
| Reporting | What do I see daily, weekly and monthly, and in what format? | You can't manage what you can't see by account |
| Data security | Which security assessments are on file, and how is data returned or destroyed at contract end? | Your customers' data leaves your systems the day you place |
| Scale and continuity | Can you absorb a surge in placements, and what happens if a site goes down? | Seasonal spikes and growth shouldn't stall recovery |
Fees and the net-back math are explained on what collection agencies charge. The full question set, with weights and a scoring template, is in the collection services RFP kit.
| Type | How it works | Fits when |
|---|---|---|
| National full-service agency | Calls, letters, digital, skip tracing, credit reporting and legal referral across many industries and states | You place volume across many states and need one partner with depth |
| Digital-led agency | Mostly email, text and self-service portals, with fewer calls | Your accounts are low-balance, younger and reachable online |
| Specialty agency | One industry (medical, utility, commercial, student loans) or one stage | Your debt has rules or habits a generalist doesn't know |
| Local or regional agency | A smaller firm working one area | Your customers are concentrated and balances are small |
| Collection law firm | Attorneys who sue and enforce judgments | Balances are large enough to justify litigation |
| Debt buyer | Buys the accounts outright and collects as owner | You'd rather take a price today than wait for recoveries |
Selling and placing are compared on sell or place charged-off accounts.
This list is alphabetical and isn't a ranking. Each description comes from the company's own website as of November 2026. TSI publishes this page and is one of the providers listed, so check every claim, ours included, against your own test.
| Provider | Type | What it offers, per its own site | Ask about |
|---|---|---|---|
| The CBE Group | National full-service agency | First-party and third-party collections, healthcare patient account resolution and government recovery, plus customer care and back-office services | Which programs your industry would sit in |
| Encore Capital Group (Midland Credit Management) | Debt buyer | Buys charged-off consumer receivables and collects as owner | Pricing on forward-flow vs one-time sales |
| IC System | National full-service agency | Contingency and fixed-fee programs for businesses of different sizes, and a healthcare patient account unit | Which program fits your volume and balance size |
| InDebted | Digital-led agency | Third-party collections run mainly through digital channels and a self-service portal, plus first-party collections software | How accounts that don't engage online are worked |
| TrueAccord | Digital-led agency | Digital collections driven by a machine learning decision engine, plus white-label software for first-party collections | Call coverage, and how disputes reach a person |
| Transworld Systems Inc. (TSI) | National full-service agency | First-party and third-party collections, healthcare revenue cycle, customer care and recovery management software (DebtNext); founded in 1970, more than $64 billion in receivables under management across 160 million accounts | The programs below |
Before you shortlist anyone, search the CFPB Consumer Complaint Database for the company's name and read a sample of recent complaints and responses. The FTC also keeps a list of debt collectors banned by court order.
Skip tracing finds a customer who has moved or changed numbers. Most full-service agencies do it in-house, using data from credit bureaus and data providers such as LexisNexis Risk Solutions and TransUnion's TLOxp. Buying skip tracing separately makes sense when you collect in-house and only need locate data.
Ask any provider how often it refreshes contact data, which sources it uses, and how it confirms it has the right person before it calls. A wrong-party call is a privacy problem as well as a wasted attempt.
Send 2 or 3 agencies a random split of the same accounts, by stage and balance, so no one gets the easy ones.
Agree on liquidation, net-back after fees, cost to collect and complaints per 1,000 accounts before the first account goes out.
Ask for a sample of recordings from your accounts every month, and listen to them.
Compare net-back and complaints, not gross collections. Move volume to the winner and keep a second agency for comparison.
TSI is licensed or registered in every state that requires it and authorized to collect in all 50 states, DC and Puerto Rico (NMLS ID 950422). It has worked first-party and third-party programs since 1970 for lenders, healthcare providers, utilities, government agencies and businesses collecting from other businesses. Ripple, TSI's speech analytics tool, scores every call, and a quality team that reports to the Chief Compliance Officer reviews flagged calls; here's how call monitoring works.
TSI isn't the right fit for everyone. If you place a few dozen small accounts a year, a local agency or a self-serve program may cost you less.
Results vary by portfolio, including account age, balance and type, and by client program.
One that takes low volumes without a minimum, is licensed in your customers' states, prices on contingency so you pay only on what's collected, and gives you an online portal to place and track accounts. Test it on a small batch first.
State licensing agencies publish lists of licensed collection agencies, and trade associations such as ACA International list members. A list tells you who's licensed, not who's good: check complaints in the CFPB database and test finalists on your own accounts.
There's no independent, published ranking by size. Large national agencies, debt buyers and collection law firms each report different measures, such as accounts, dollars placed or revenue. Ask finalists for the measures that matter to you: volume in your industry and net-back.
Most full-service agencies do, using data from credit bureaus and data providers. Ask how often contact data is refreshed and how the agency confirms the right person before calling.
TSI (Transworld Systems Inc.) publishes it. TSI provides Accounts Receivable Management (ARM), Healthcare Revenue Cycle Management (RCM), CXBPO and Loan Servicing (via UAS). Some options this page describes compete with services TSI sells. Each figure names its publisher and date so you can check it yourself.
General information, current as of Nov 5, 2026. It isn't legal advice. Rules change and differ by state, so check the sources linked here and talk to your own counsel before you act on it.
The Recovery Performance Diagnostic is a side-by-side read of your placements, liquidation, net-back and complaints against what your agencies report, with the changes worth making first.
