Whether you're a seasoned business owner or just starting out, recovering unpaid debts can be a complicated, time-consuming, and emotionally draining process. This is why businesses in Alberta and across Canada often turn to professional collection agencies for help. But how do you choose the right agency?

Understanding Alberta's Unique Debt Collection Regulations

• Licensing: While not mandatory for commercial debt collection, consumer collection agencies must be licensed under Alberta's Consumer Protection Act. Working with a licensed agency adds legitimacy and offers financial protection for you, the creditor.

• Legal Tools: Alberta offers creditor-friendly tools to expedite the collection process, such as:

• Small Claims Court: The previous limit of $50,000 increased to $100,000 in August 2023, making it easier to pursue larger debts in a streamlined manner.

• Pre-Judgment Garnishees and Seizures: These can be effective remedies if certain criteria are met.

• Notice of Intention to Sell: A powerful tool unique to Alberta, allowing creditors to sell a debtor's real estate to satisfy the outstanding debt.

Choosing the Right Collection Agency

• Licensing: Always prioritize licensed agencies for added security and consumer protection compliance.

• Experience: Seek agencies with a proven track record and knowledge of laws and processes across Canada, including Alberta.

• Services: Ensure the agency aligns with your needs. Do they offer skip tracing, asset investigations, or legal support if required?

• Transparency: Choose an agency with transparent fee structures and clear reporting mechanisms.

• Reputation: Look for agencies committed to professionalism and ethical practices.

Why Partnering with a Collection Agency is a Smart Move

• Improved Cash Flow: Professional agencies have the experience and resources to expedite debt recovery, helping you free up cash flow and focus on your core business.

• Time Savings: Outsourcing collections frees up your time and energy, allowing you to focus on growth and client relationships.

• Expertise: Agencies offer specialized skills and knowledge of laws that most businesses don't possess in-house.

• Cost-Effective: Agencies often work on contingency, meaning you only pay a fee if they successfully recover the debt.

Alberta-Wide Reach, Local Expertise

Vanguard understands the unique dynamics of debt collection within Alberta's economy. Our strategic presence allows us to serve clients province-wide, including:

• Calgary

• Edmonton

• Red Deer

• Lethbridge

• Fort McMurray

• Medicine Hat

• Grande Prairie

• Airdrie

• St. Albert

Partnering with the right collection agency can be a strategic move for businesses anywhere in Canada struggling with unpaid debts. By understanding the regulations, choosing an agency that aligns with your values and needs, and leveraging their expertise, you can significantly improve your collections success and overall financial health.

If you're struggling with outstanding debt, don't hesitate to seek professional help.
Contact Vanguard today for a free consultation and see how we can help you recover what's rightfully yours.