American Collection Systems, Inc., will use its best efforts to collect amounts owed to Client according to applicable federal, state, and local laws. American Collection Systems, Inc will be businesslike and consistent with the image and reputation of Client.
Maintain Client’s information in a private and confidential manner
Promptly remit to Client all monies collected during any calendar month, less fees due to ACS
Notify Client of all settlement proposals below the stated amount owed to Client
Keep confidential any information disclosed by Client to ACS for purposes of this Agreement, except as required to comply with applicable legal or regulatory requirements
ACS will not utilize any other collection agencies in the servicing of client accounts.
Client agrees to:
Cease all direct collection efforts once an account is placed with ACS for collection
Provide ACS with copies of all information and documentation that will enable ACS to verify the debt and more effectively perform its collection efforts
Immediately inform ACS of all payments, bankruptcy notices and any other communications from debtors or their representatives the Client receives or becomes aware of
Allow ACS to negotiate any monetary instrument (checks, money orders, etc.) made payable to Client that ACS received on accounts placed.
Place with ACS only those account that: (1) are owned by Client and are free and clear of any lien or encumbrances; (2) were originated and maintained by Client; and (3) neither currently nor previously, the subject of any litigation or any bankruptcy proceeding. Client further represents and warrants that all accounts placed with ACS for collection are valid, due and owning in the amount provided to ACS by Client and by the person(s) designated by Client as responsible for the account