COLLECTIVITY SERVICE & DEBT COLLECTION AGREEMENT

TERMS AND CONDITIONS

1. It shall be the intent of the Creditor/Client to retain the services of Collectivity LLC for the purpose of providing debt collection services. In the interest and spirit of maintaining the highest level of ethical and professional standards the parties agree to conduct themselves in accordance with the FDCPA, Fair Debt Collection Practices Act, and FCRA: Fair Credit Reporting Act. In addition all collection activity shall be conducted in accordance with the Code of Conduct of the ACA, American Collectors Association as well as the standards set forth in the Operative Guidelines of the CLLA, Commercial Law League of America.

2. By placing a claim for collection, Creditor / Client grants to Collectivity LLC full discretion and authority to proceed with all collection efforts it deems necessary, including the referral of claim(s) to attorneys for the filing of suit, obtaining of judgments, and post judgment enforcement. *Lawsuits will only be initiated with the authorization of the creditor/client.

3. Collectivity LLC is granted absolute discretion and authority to act as it deems appropriate in the collection of claim(s) and is authorized to accept partial payments. Furthermore Collectivity LLC shall have the right to endorse for deposit and collection any checks payable to the Creditor/Client. The compromise or settlement of any claim(s) will not be made without the consent of the Creditor/Client.

4. Acting in accordance with the FDCPA, all communication with the debtor(s) will be conducted by and through the offices of Collectivity LLC. Therefore Creditor/Client agrees to cease all communication with the debtor(s) or to have the claim handled by any other institution, collection agent, or representative. Creditor/Client agrees to inform Collectivity LLC immediately as to the nature and content of all contacts which debtor(s) makes or attempts to make directly with the Creditor/ Client as well as all other matters of importance or that are germane to the collection of the claim(s). Claim(s) that are compromised by the Creditor/Client and or settled directly with the debtor are subject to fees. Any claim(s) paid directly by the debtor(s) to the Creditor/ Client shall be subject to fees as well.

5. In the event claim(s) are withdrawn or the services of Collectivity LLC are terminated without cause, it is agreed Collectivity LLC shall be entitled to fees on such claim(s), and be reimbursed and recover from Creditor/Client any advanced court cost, attorney fees, and due diligence expenses incurred on behalf of the Creditor/Client. Once legal Proceedings have been initiated, whether pre or post judgment the withdrawal or cancellation of the claim(s) is only permissible after all fees, court cost, and due diligence expenses have been paid.

6. Claim(s) forwarded to outside counsel for legal action: Knowing that time is of the essence, and delays in filing suits can compromise the collection of any claim(s), Collectivity LLC is authorized to advance payments for court costs, attorney’s fees, skip tracing, due diligence, and all other costs associated with the obtaining and enforcement of judgments. All costs for legal actions shall be and remain the responsibility of the Creditor/ Client. Advances made on behalf of the Creditor/Client will be itemized and accounted for and will be deducted from the first payments made by the debtor unless previously paid by the Creditor/Client. No legal action or litigation will be taken without the express consent and written authorization of the Creditor/ Client.

7. Fee Schedule: It is agreed and understood that the following contingency fee schedule will apply to any and all accounts placed for collection. Claims over 1 year past due are subject to higher fees.

STANDARD PRE-LEGAL RATES: COMMERCIAL CLAIMS 25% OF MONEY COLLECTED IF LESS THAN 1YEAR AND OVER $200; OTHERWISE 40% (1/2 RATE ON RETURN OF MERCHANDISE). CONSUMER CLAIMS 35% OF MONEY COLLECTED. RATES ALSO APPLY TO ANY PAYMENTS DISCOVERED BY CLIENT OR PROVEN TO CLIENT BY AGENCY AFTER PLACEMENT AS IF THE MONEY WAS COLLECTED DUE TO THE DIRECT EFFORTS OF THE AGENCY.

STANDARD LEGAL RATES: 40% OF MONEY COLLECTED PLUS, IN ADVANCE, SUIT FEES AND COURT COSTS. ALL INTERNATIONAL CLAIMS, WHETHER PRE-LEGAL OR LEGAL ARE AT THE STANDARD 50% RATE. THE ABOVE RATES ARE SUBJECT TO CHANGE UPON PRIOR WRITTEN NOTICE BY THE AGENCY.

BANKRUPTCY FILINGS OF PROOFS OF CLAIM: 40% OF ALL DIVIDENDS RECEIVED AFTER THE FILING OF THE PROOF OF CLAIM ON BEHALF OF CLIENT.

CLIENTS WILL RECEIVE THEIR PORTION OF CLEARED FUNDS WITHIN THIRTY (30) DAYS OF RECEIPT FROM THE DEBTOR.

 

THANK YOU!

 

string(14) "Privacy Center"

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.