Cash for Past-due and Delinquent Accounts, Bounced Checks, Judicial Money Judgments and Motor Fuel Drive-off Thefts
Rather than let those unpaid accounts, judgments and checks pile up, let us show you how to convert them back into working capital.
We will take your claim, large or small, from inception right up to and including executions, seizures, and attachments.
Our collection services can handle past-due and delinquent accounts, bounced check recovery and judgment enforcement throughout the nation and around the world.
All businesses with account receivables face challenges in controlling bad debt and need professional assistance. You know that the longer a debt goes unpaid, the greater the risk of total loss. Reduce your losses today.
We recognize that it is not sufficient to merely let the debtor know that a collection agency has been hired. Unlike traditional collection agency methods which, based on the balance of the delinquent account, allocate a finite number of phone calls and letters, followed by litigation, we believe that consistent and repeated direct contact with the debtor in synchronicity with appropriately applied pressure is key to recovery of assets or money. Debtors prioritize repayment of past due accounts based on their budget and how much pressure they are under to make the payments. We work to put our client’s accounts at the top of the debtors list to repay through professional, persistent and effective methods.
Collecting money takes training, planning, talent, scheduling, timing and a proven program.
Cash Flow Improvement Specialists uses many years of knowledge, skip-tracing tools and automation to recover YOUR MONEY.
Our contingency based debt collection process results in a relentless pursuit of your debtor through every means legally available. However, not all claims will ever be collected. Many times, a debtor will forego a listed telephone and force us to constantly search for unlisted and cell phone numbers.
All collections are on a contingency basis. If we cannot collect your claim, partial or in full, there will be no charge. There are no set-up fees or placement charges for listing your claim(s).
Service Contingent Collection Commission Fee
·Collection of past-due / delinquent accounts, checks cc charge backs or judgments.... 33.333%
·Collection motor fuel theft drive-offs....................................................................................... 40%
·Claims forwarded to an attorney for collection, litigation and/or enforcement ................. 40%
·International Claims including Mexico and Canada................................................................ 50%
Once we start to work on a claim, we communicate a "sugar & spice" personality during the initial stages and our message gets stronger as we proceed. Our tactics change to "all's fair" during litigation. We have a network of attorneys around the county to assist in getting your money.
We Enforce Judgments!
If you have a valid court awarded judgment and we accept your claim(s), will use every method at our disposal to recover the full amount of the unpaid judgment. As allowed by law, we will garnish wages, attach bank accounts, and seize assets as necessary. Depending on the location and merits of your judgment(s), we may choose to pursue the collection through our agency or forward the claim to one of the attorneys in our network.
No Charge Skip-tracing
We will track the debtor down even if he or she has moved to another state. We have access to both private and public databases that allows us to 'skip-trace' the debtor and to locate any assets that he or she may have. We also have access to unlisted phone and cell phone numbers.
Small Claim Service
Small claims sometime require a long, slow and maintained pursuit to attempt to wear the debtor down. The claim is not collectable via normal avenues of attorneys and suit due to the small amount involved. We excel in this area as we clearly understand it can take a year or more to collect when other agencies will probably send a letter and maybe make a call. Our goal is to maximize your recovery. After all, we are paid only on commission. The one tool which gets results is our credit bureau reporting software module. Every open claim is reported and updated once a month. We get calls to pay off $5 bounced checks after a black mark appears on a credit report!
Motor Vehicle Fuel Drive-off Recovery Services
Our service can recover a large portion of losses due to theft of fuel. We track a license plate back to the vehicle owner. A series of demand letters with statutes is mailed. We have access to unlisted and cell phone numbers that enable us (in most cases) to call the registered owners of each vehicle many times per week. We provide your station(s) a “Drive-off Sheet”. When a drive-off occurs, write in as much of a description and the plate number as possible, attach the cash register receipt and fax or mail it to us for processing. In addition to daily interest, a $30 collection fee is added to the theft amount and all three items are included in the total amount owing. You receive 60% of what we collect including the interest and collection fee! Example: A $47.00 drive-off theft. We add a $30 collection fee and daily compounding interest ($.40) = $77.40 claim. We deduct our commission of $30.96. You will recover $46.44 back in your till.
Forwarding of Claims
As much as our agency attempts to be the squeaky wheel that pulls in a payment, after a certain period it’s best to work the claim a different angle. We reserve the right to “forward” claims to another agency or attorney to effect an efficient and speedy collection. Forwarding along with reporting every debt to all major credit bureaus gives us multiple opportunities to extend the pursuit with varied tools and flavors over several months or even years of pursuit.
Conciliation Court and Mediation
If the claim has suit merits, we may ask you if a judgment should be sought. When working a judgment, we can start garnishment and other legal actions. Authorization to start a conciliation or civil court suit may come only from you. During this process, you will be invoiced for actual process server fees, garnishment fees, court costs or court travel time/mileage to us or an attorney for legal actions. All advanced process server, garnishment and legal fees, IF/WHEN collected from debtor, will be paid back to you 100% with no commission deducted. Travel time, court time, parking and mileage expensed cannot be added to the judgment and are not refunded directly. However, we routinely add our collection costs on top of the judgment claim principle when allowed.
Our agreement for collection services
Cash Flow Improvement Specialists, Inc. Collection Terms and Conditions
For Past-Due and Delinquent Account Collection, Motor Fuel Drive-off Theft, Bounced Check Collection,
Credit Card Chargeback and Judgment Enforcement. Please read, sign and return this form.
Cash Flow Improvement Specialists, Inc. (hereafter known as “we” or “us”) will attempt to collect your (hereafter known as you”) claim(s) under the following agreement:
1. We will comply with all local, state and federal laws and such policies of your company as you may disclose to us.
2. We reserve the right to “forward” claim(s) to another agency to effect an efficient and speedy collection. We are authorized to refer any claim(s) to an attorney for collection at our discretion. However, authorization to file suit may come only from you. You will be invoiced for actual process server fees, garnishment fees, court costs or court travel time/mileage to us or an attorney for legal actions. All advanced process server, garnishment and legal fees, IF collected from debtor, will be paid back to you 100% (no commission).
3. Commission fees are on a contingency basis of recovered funds either when collected by us or if paid directly to you from the debtor. Cash Flow Improvement Specialists, Inc.’s commission fee on gross money collected from debtor is:
·Collections of past-due and delinquent accounts, bounced checks, credit card charge backs and/or judgments........ 33.333%
·Collections of motor fuel theft drive-offs.................................................................................................................................... 40%
·Claims forwarded to an attorney for collection, litigation and/or enforcement on a contingency basis ......................... 40%
·International claims including Mexico and Canada................................................................................................................... 50%
4. You will advise us immediately of any debtor payments made directly to you after placing the claim(s) and we will invoice you for our earned commission fee.
5. We have no authority to settle any debt for less than the full principle owing, except under your expressed verbal/written permission.
6. We will not charge you set-up fees, placement charges, retainer fees, skip-tracing or report fees for listing your claim(s). However, you will be invoiced for our research, labor and expense not to exceed the lesser of $45.00 or 10% of the principle amount of each claim, judgment or check that is placed with us and then withdrawn by you within 180 days of placement including claims placed for collection in error. Our course of action will consist of a series of letters, phone calls and litigation. We will continue to attempt to collect your claims as long as we determine there is merit in doing so. Some collections are most effective over several years of repeated attempts to collect your money with credit bureau reporting. You authorize us to report debtor’s delinquent account(s) to one or more credit reporting bureaus. If we are unable to locate the debtor, collect a partial or full payment and litigation is not an option, we will close the claim and return it to you without any charge to you. No commission is earned or fee charged by us due to a bankruptcy discharge or no-asset business failure.
7. Interest is charged to the debtor from the receivable's due date, judgment award date or the date on a bounced check at the allowable interest rate in the state where your business receives mail. A higher interest rate, collection fee and attorney fee will be applied to the claim IF the debt instrument creating the debt contains proper notice in writing and is signed and accepted by your customer at the time of contract, acceptance of a proposal, or authorizing a work order. All collected interest will be applied to either the gross amount collected and subject to our commission fee or the interest on a claim may be waived for the debtor if it will entice an immediate and/or full payment. The maximum state-authorized collection fee is added to every bounced check and motor fuel drive-off theft claim and is also commissionable to us.
8. Any remittances will be held in our non-interest bearing trust account and you authorize us to endorse checks and negotiable instruments for deposit into this account. All net claim payments are dispersed through a trust account. We must hold debtor payment made by check for 14 days from the deposit day and foreign moneys require additional time to clear. A net remittance check and report will be mailed to you at month end. We reserve the right of offset future commissions to collect fees that you owe us.
9. You will be invoiced for any net debtor payments received by us, applied to a claim and forwarded to you that were made via credit card, debit card, money order or check and later “reversed” or “returned unpaid” by the debtor/card issuer/check writer.
10. We will immediately notify you of any lawsuit or claims against you or us arising out of our efforts on your behalf and we will defend and indemnify you against such claims or suits that arise out of our action. You will defend and indemnify us in any such action where cause arises out of erroneous information supplied by you. In any action, you will have the sole right to choose your own attorney.
11. You hereby warrant that all claims forwarded to us will be valid and legally enforceable debts and that you will cease phone calls and correspondence in an attempt to have debtor pay any claim placed with us. You shall not place claims that have been included in a bankruptcy. Further, you agree to provide a written verification of a claim, check, invoice, statement; lease, contract or judgment on which a claim is based and the name and address of the person or entity to whom the debt was originally owed, if different from you.
12. This agreement contains all of the covenants between you and us and may be terminated by either party upon receipt of a 60 day written notice. Both parties acknowledge that no representations, inducements or promises which are not contained in this agreement, shall be valid or binding. Any modification of this agreement will be effective only if it is in writing and signed by both parties. Venue of the purposes of this agreement shall be in Olmsted County, Rochester, Minnesota, USA. You agree to these terms and conditions.
Date: ______/______/ 20________ R 12/02/08
Creditor Business Name: __________________________________________
When your account has been set up (no charges apply) and we have entered your claims, you'll receive a letter or e-mail acknowledging your claim submission. (We like to send your correspondence via E-mail) Then, we'll go to work rounding up your money.
Any and all information you submit to Cash Flow Improvement Specialists, Inc. will be held in strict confidence. We will never release, sell, or trade E-mail or private information for any reason. All order transactions are processed on our secure encrypted servers. All documents faxed to our office arrive in an extremely secure location, not available to the public.
IMPORTANT NOTICE!!! CHECK ACCEPTANCE POLICY. In the unlikely event that your check is returned for insufficient or held funds, we will debit your checking account electronically for the face amount of the check plus the state allowed fee. This Policy allows us to resolve the problem without reporting you to a credit bureau and harming your credit rating. The transaction will appear on your bank statement, and no one will have to contact you about payment.
Your submission of a cash flow worksheet and the consulting is free. You or your company are under no obligation to accept any cash offer we make for the funding of an accounts receivable financing (factoring) or purchase order funding worksheet, or the like.
Cash Flow Improvement Specialists and United First Financial does not provide accounting, tax, legal, real estate, mortgage or investment advice. Interested parties should seek and consult with persons and entities licensed and qualified in those areas for advice relating to those matters. The information contained herein is general and may not apply to your situation and does not substitute for the advice of an attorney.
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