Full Collection Service
Our professional collectors work the account along with our
own collection letters. When collection is made, commission
is taken at the agreed upon rates. With your permission, we
will file claims in Small Claims Court.
The following information details Collection Specialist Inc.'s
Collection Agreement for Service. These terms are applied when
you forward accounts to us. Reduced rates are available for higher volumes.
The commission payable to Collection Specialist Inc., hereinafter
called the Agents, for collecting retail accounts will be 35 percent.
A retail account is an account where the debtor is an individual or a
non-operating business during the collection period. The rates apply to
Commercial Accounts are at a Flat 25% rate for debts up to 1 year old.
collected (debtors who are companies or individuals conducting a business still in operation)
NOTE: Special rates available for multiple listings
NO COLLECTION, NO CHARGE!
A commission of 50% is applicable to any of the following: accounts under $100.00
accounts previously listed with another agency or accounts older than one year
The Creditor hereby agrees to report to the Agents, every payment or returned
merchandise made to the Creditor. Direct payments are subject to full applicable
commission. Returned merchandise is subject to half the applicable commission
applied to the retail value.
The Agents agree that legal action will not be taken against a debtor without
the written authorization of the Creditor. There is a separate fee structure for
legal actions. Accounts collected where legal action has begun are subject to 10%
Commission on any collected amounts. Please see fee structure for legal actions.
From time to time, the Agents will request advanced disbursements from the Creditor
for legal action. Most disbursements are added to the claim, and if legal action is
successful, disbursements can be collected as well.
Accounts may be cancelled with ninety days written notice, except where collection is
being achieved or legal action has been commenced.
The Agents, under this agreement, may deposit into its Trust Account all cheques
received by the Agents, made payable to the Creditor.