Terms & Conditions

DEBTOR CONTACT
 

Immediate debtor contact is established within minutes of receiving your claim placement. The next step will likely originate from the debtor trying to contact you. To maintain absolute leverage and credibility, the debtor must be convinced of our complete authority to act on your behalf. This can only be accomplished by not engaging or conversing with the debtor and directing all inquiries to us. Let us know any time a debtor makes an attempt to contact you and please remember that there can be no communication with the debtor after placement. The most compelling reason is jeopardizing the professional liability insurance we carry for your protection which is nullified by our insurer if a client communicates or “just listens” to a debtor. Any client contact with the debtor after the collection process starts will void the professional liability insurance package that is in place. This includes just “listening” to the debtor even if the subject matter is irrelevant to our contact. Upon discovery that a debtor placed for collection is attempting to make contact, it is our recommendation that the debtor be made aware that “all dealings must be with Williams & Williams” and then bid the caller “good day” and gently depress the telephone hook set. A debtor feels confined and, thus, will continue to talk if one is willing to listen.

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CHECK DEPOSIT AUTHORITY

As your collection agent, Williams & Williams, Inc. is authorized to deposit, endorse and
deduct charges on payments for the purpose of remitting the proceeds of said principal
to you. This occurs after safe clearance through our Client Trust Account. Your approval
is always obtained prior to accepting any offer of a compromise settlement.
 

DIRECT PAYMENTS

If you receive a payment from a debtor, please contact us immediately. In some
instances, it may not be in your best interest to negotiate the debtor’s check.
 

BANKRUPTCIES

Should you be notified of a Bankruptcy during our handling, please contact us. Even
though a debtor files bankruptcy, other relief may be available. The particular
circumstances will dictate if all options have been exhausted. Always call us for advice.
 

DISCOVERY

Unless pending or otherwise revealed at placement, should our efforts result in a
balance reduction or anytime a payment error is discovered during collection efforts
including a previously paid invoices, our normal rates apply.

WITHDRAWAL REQUESTS

Once our efforts commence, we have a vested interest in your claim. Since we are not
compensated on an hourly basis, normal rates apply on claims withdrawn.

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RATES

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Preliminary 20%*

Forwarding 25%**

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*In most cases we can offset our preliminary rate fees by collecting collection costs and interest with a properly worded credit application, terms and conditions, bill of lading, or rules circular.

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**If suit is authorized, there is an additional nominal fee for preparing the lawsuit.

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