NATIONWIDE MANAGEMENT SERVICES, INC DEBT COLLECTION AGREEMENT

TERMS AND CONDITIONS

1. It shall be the intent of the Client/Creditor to retain the services of Nationwide Management Services, Inc. for the purpose of providing debt collection services. In the interest 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.

2. By placing a claim for collection, Client/Creditor grants to Nationwide Management Services, Inc. full discretion and authority to ensue collection efforts it deems necessary, including the referral of claim(s) to attorney(s) for the filing of suit, obtaining of judgments, and post judgment enforcement. Lawsuits will only be initiated with the authorization of the Client/Creditor.

3. Nationwide Management Services, Inc. is authorized to accept partial payments when it is deemed necessary. Furthermore, Nationwide Management Services, Inc. shall have the right to endorse for deposit and collection any checks payable to the Client/Creditor. The compromise or settlement of any claim(s) will not be made without the consent of the Client/Creditor.

4. Acting in accordance with the FDCPA, all communication with the debtor(s) will be conducted by and through the offices of Nationwide Management Services, Inc. Therefore, Client/Creditor agrees to cease all communication with the debtor(s) or to have the claim handled by any other institution, collection agent, or representative. Client/Creditor agrees to inform Nationwide Management Services, Inc. immediately as to the nature and content of all contacts which debtor(s) makes or attempts to make directly with the Client/Creditor as well as all other matters of importance or that are significant to the collection of the claim(s).

5. In the event claim(s) are withdrawn or negotiated by the Client/Creditor and or settled directly with the debtor or the services of Nationwide Management Services, Inc. are terminated without cause, it is agreed Nationwide Management Services, Inc. shall be entitled to fees based on the full amount of such claim(s) at time of placement for collection, and be reimbursed and recover from Client/Creditor any advanced court cost, attorney fees, and due diligence expenses incurred on behalf of the Client/Creditor. 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), Nationwide Management Services, Inc. is authorized to advance payments for court costs, attorney’s fees and all other costs associated with the obtaining and enforcement of judgments. Advances made on behalf of the Client/Creditor by Nationwide management Services, Inc. will be itemized and accounted for and will be deducted from the first payments made by the debtor unless previously paid by the Client/Creditor. 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.

STANDARD PRE-LEGAL RATES:

CONSUMER CLAIMS WITH A VALUE OVER $500 WILL BE 30% OF MONEY COLLECTED WHEN CLAIM IS LESS THEN 90 DAYS OLD AND 40% WHEN THE CLAIM IS MORE THEN 90 DAYS OLD AT THE TIME OF PLACEMENT.

CONSUMER CLAIMS WITH A VALUE UNDER $500 WILL BE 40% OF MONEY COLLECTED.

 

SKIP TRACING RATES: CONSUMER CLAIMS THAT HAVE SKIPPED AND DO NOT POCESS A VALID ADDRESS WILL BE 50% OF MONEY COLLECTED.

STANDARD LEGAL RATES: 50% OF MONEY COLLECTED. 100% OF ALL ADVANCED COST ASSOCIATED ON THE CLAIM(S) WHEN SAID COSTS ARE PAID BY NATIONWIDE MANAGEMENT SERVICES, INC.

BANKRUPTCY FILINGS RATES: 50% OF ALL AMOUNTS RECEIVED AFTER THE FILING OF THE PROOF OF CLAIM ON BEHALF OF CLIENT/CREDITOR.

CLIENT/CREDITOR WILL RECEIVE THEIR PORTION OF CLEARED FUNDS WITHIN FORTY-FIVE (45) DAYS OF RECEIPT OF CLEARED FUNDS FROM THE DEBTOR.

ALL RATES WILL APPLY TO ANY PAYMENTS DISCOVERED BY CLIENT OR PROVEN TO CLIENT BY NATIONWIDE MANAGEMENT SERVICES, INC  AFTER PLACEMENT AS IF THE MONEY WAS COLLECTED DUE TO THE DIRECT EFFORTS OF NATIONWIDE MANAGEMENT SERVICES, INC.

THE ABOVE RATES ARE SUBJECT TO CHANGE UPON WRITTEN NOTICE BY THE NATIONWIDE MANAGEMENT SERVICES, INC.

THANK YOU!