Collection Agreement

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COMPANY NAME

COLLECTION AGREEMENT

       The foregoing Collection Agreement is (Company Name) this day of , ________ , by and between (COMPANY NAME) Collection Agency, LLC, located at ________________________________________________, through the authorization of _________________, President, hereinafter known as “AGENCY,” and , located at , hereinafter known as “CLIENT”, sets forth the following terms and conditions:

The AGENCY agrees to:

• Carry out reasonable collection efforts for accounts placed in compliance with all applicable federal, state, and local laws.
• Remit all monies collected, less any applicable commissions, to the CLIENT by the 15th of each month for all funds received for the previous calendar month, including a monthly statement detailing same.
• Maintain privacy and confidentiality of any information obtained during the regular course of performing debt collections relative to accounts placed with AGENCY by CLIENT.
• Provide periodic status reports for all placements, up to and including quarterly activity reports.
• Notify CLIENT in the event settlement (below authorized percentage) and/or legal remedy is recommended for placed accounts. 

The CLIENT agrees to:

• Immediately cease all direct collection efforts and provide a copy of any and all documentation that will enable the verification of debt upon request of a debtor or AGENCY.