Client Printed Name/ Date
1st Financial Business Solutions LLC, upon receipt of receiving accounts from you, will proceed with the collection process and work the accounts until resolution or cancellation.
1st Financial Business Solutions LLC charges a monthly fee of $199 per month, due the first of each month, for the services of receiving up to 25 new accounts per calendar month, in which we will enter the account information into our database and begin the collection process with full intentions of collecting that said amount due by each account. We enroll your company into a 6 month commitment with automatic bill pay due the 1st of each month. Upon non-payment or cancellation notice, your company accounts will no longer be worked. If your company will need a higher enrollment package monthly, the following fees apply:
Monthly fee: $199.95 up to 25 new account transfers per month
$299.95 up to 50 new account transfers per month
$399.95 up to 75 new account transfers per month
$499.95 up to 100 new account transfers per month
Upon receiving each transferred account, a day end report will be emailed back to your company showing notice of all accounts received. Each account will be entered into our system and start the collection process with every attempt to collect quickly and in full as the first 3 months are the most likely to receive payment if it's all likely. We will continue to work every account to our full potential. At the 6 month mark of no said commitment from Debtor or nonpayment status, we will visit with you as to your next steps with the debtor. Your options will consist of remaining in the collection status and having us continue our full commitment to collect or to move on to legal status. Upon your decision to move onto legal status, you have complete decision making in whether or not the account is worth legal fees, and upon your decision to proceed, all legal fees will be on your behalf depending on how each proceeds. Our intention is to collect every account without having to go legal. When an attempt is to be made by the debtor, it will be done within the first 3-6 months of notification that the account is in collections. At the 6 month review of each account, you can decide to proceed legally, have us continue working with regular collections, or consider it for company write-off.
The account level will be decided upon enrollment/renewal of 6 month commitment. In the case of transferring more than said amount over, we will notify you to either upgrade your agreement or hold off with so many transfers.
On the last day of each month 1st Financial Business Solutions LLC will provide a statement to the client that reflects all payments made directly to the client and received by 1st Financial Business Solutions LLC. If a check is received the last few days of the month from an account, we will hold the statement a few days to be sure the funds have cleared the bank. The client must notify 1st Financial Business Solutions LLC when a direct payment is received from any debtors so we can update that account to stop collection notices/phone calls.
The client may cancel any account at any time, unless the account is in a payment plan process, or a commitment of payment has been made. If an account enters a settlement, the client will be notified in order to make a decision whether to accept the offer.
It is our mission to collect your debt in full as quickly as possible.
1st Financial Business Solutions LLC is licensed and bonded in the state of Indiana.