Please note debt collection (whether actively contacting a debtor or reporting delinquencies) is a serious endeavor. Mistakenly, carelessly, negligently, wrongfully, and/or intentionally attempting to collect or reporting a debt that is not valid or not recognized under the law can carry serious legal penalties. Tenant Collection Services Inc or its affiliates should not be used to harass, threaten or frighten people.
The AGENCY and CLIENT hereby agree as follows:
1. AGENCY RESPONSIBILITIES:
a. AGENCY will perform collection services for CLIENT and CLIENT will pay AGENCY a FLAT FEE on any and all monies recovered.
b. AGENCY will charge a FLAT FEE of $100.00 for collection service against the primary tenant. (If applicable) you can include the co-tenant for an additional $50.00.
c. Agency will utilize a full variety of skip- tracing methods to locate tenant (debtor).
d. Once tenant (debtor) is located AGENCY will make contact via mail or phone, to inform tenant (debtor) of outstanding debt.
e. AGENCY will inform tenant (debtor) of outstanding debt and instruct tenant (debtor) to forward all monies from owed debt, directly to CLIENT.
f. AGENCY will make 3 attempts by mail or by phone to collect debt. If tenant (debtor) fails to respond or refuse to pay within 45 days of first contact, AGENCY will then report tenant (debt) to the Credit Bureaus.
g. After a period of 60 days and debt is still outstanding, AGENCY will then recommend further legal action to secure a final court judgment.
h. AGENCY agrees to assist in the retrieval of all vital small claims court documents, to commence case against tenant (debtor) and forward directly to CLIENT for completion.
i. Once a valid court judgment is obtained the Agency agrees to conduct a FREE background search on your tenant(s) financial records to identify any bankruptcies, liens, judgments, current employer, bank accounts or assets they may have, to satisfy the money judgment.
CLIENT RESPONSIBILITIES:
a. CLIENT agrees to provide if necessary signed / notarized documents, rental application, leases, court records and all tenant(s) rental information, to AGENCY.
b. CLIENT agrees to notify AGENCY immediately of all direct payments received after account has been forwarded to AGENCY.
c. CLIENT certifies by its Electronic Signature below that he/she has legal ownership of property and certifies that ALL DOCUMENTATION PROVIDED is valid and authentic under the law before proceeding. Tenant Collection Services Inc must rely upon the accuracy and validity of the information you provide. Tenant Collection Services Inc can not, and does not, evaluate or investigate the information you provide to determine whether a debt is valid and recognized under the law. However, Tenant Collection Services Inc reserves the right to decline services regarding any debt it deems inappropriate, inaccurate, and invalid.
d. CLIENT agrees that if they receive notice from Tenant Collection Services, Inc that a debt is disputed, notification of the dispute will be forwarded to you and to any credit bureaus to which Tenant Collection Services Inc has reported the debt. Upon receipt of a notice of disputed account from Tenant Collection Services Inc you will be asked to provide substantiation of the debt in the form(s) of a (valid lease agreement, a dishonored check, a court judgment, eviction stipulation or an invoice for rent sent to your tenants) within five (5) business days. In the event reasonable substantiation is not received in a timely manner the account will be closed and, if applicable, reported to the appropriate credit bureaus.
e. CLIENT understands Tenant Collection Services Inc does not warrant the accuracy, timeliness or ability of the credit bureaus to accept debtor information and properly display same. Tenant Collection Services Inc assumes no responsibility for the actions or accuracy of the credit bureaus.
f. CLIENT understands recovery CANNOT BE GUARANTEED or may take at time several years for full recovery. Some debtors may take longer to locate or may have insufficient funds to satisfy total owed debt.
g. CLIENT understands that he/she will be responsible for all required court fees, to pursue final money judgment.
h. CLIENT agrees not to hold Tenant Collection Services, Inc responsible for special, incidental, consequential or financial damages of any kind, arising from the services provided pursuant to this Agreement.
i. In the event that a third party lawsuit or a counterclaim is filed CLIENT will be responsible to hire an attorney to defend the legal action. CLIENT will have the option of retaining AGENCY'S attorney or any attorney of their choice. In either event CLIENT will be responsible for retainer and for hourly attorney's fees and costs with regard to defense of third party lawsuit and or counterclaim.
j. CLIENT reserves the right to cancel this agreement at anytime. All requests must be made via fax or email. CLIENT understand that all prior Fees paid to AGENCY for enforcement is non refundable.
In the event that litigation is necessary in remedying any breach of this agreement, all costs and expenses of litigation, including attorney fees shall be the sole responsibility of each party. Both party agrees and acknowledges that the laws of Georgia shall govern the validity, interpretation and effect of this agreement and will be tried in the Civil Courts of Fulton County, GA. THIS AGREEMENT shall be binding upon the parties.