PROPOSAL FOR COLLECTION SERVICE
PROPOSAL FOR COLLECTION SERVICE
For and in consideration of ______________________________ herein after referred to as Client, doing business with AAA CREDIT SERVICE COLLECTION AGENCY, herein referred to as Agency, in the collection of certain delinquent accounts that have been assigned by Client to Agency, we propose the following:
1. Agency’s fee is contingent upon collection and will be only ___% of the amount assigned and collected. The fee is 50% on small balances under $100 and if legal action is taken.
2. Agency offers a No Collection/No Fee Policy which means that you pay absolutely nothing until we collect. We will not charge a set-up fee or require any up-front money from client.
3. Agency will remit to Client in the month following the month in which the funds are received from debtor.
4. Agency will provide a comprehensive status report to Client open request.
5. Agency will provide a prompt accounting for any account upon request.
6. Agency will report all accounts to the three major credit bureaus and update the status of the accounts as needed.
7. All accounts, where the mail has been returned, will undergo skiptracing efforts to establish new addresses. This will be accomplished using state-of-the-art computers accessing databases from various sources including, but not limited to credit bureaus, public records and independent investigative services at no additional cost.
8. Agency will use its best effort to collect all monies assigned to it for collection but will present to Client all reasonable settlement offers for approval.
9. Agency will use its own in-house attorney when legal action is needed to collect an account and will advance all normal and customary court costs and legal fees. Agency will be reimbursed out of first monies collected.
10. Agency will conduct in-depth asset searches in order to execute judgments entered and assigned to Agency for collection at no additional cost.
11. Agency will utilize the most effective method for the transfer of accounts to Agency to make the process efficient and easy.
12. Agency will perform due diligence monitoring of accounts assigned where there has been no activity because debtor’s whereabouts are unknown by requesting a new credit history on a bi-annual basis.
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