Credit Bureau of Albert Lea
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Credit Bureau of Albert Lea Collection Service Agreement
Upon   receipt   of   account(s)   placed   with   the   Credit   Bureau   of   Albert   Lea   (hereinafter   referred   to   as   the   CBAL),   we   will   proceed   with   the collection   process   and   work   the   account(s)   until   resolution   or   cancellation.   Once   the   account   is   placed   with   the   CBAL,   all   collection   efforts   and attempts   by   the   Client   must   cease.   All   accounts   received   by   the   CBAL   are   reported   to   the   National   Credit   Bureaus   unless   specifically   requested not   to   report   by   the   Client.   The   Client   is   responsible   for   the   accuracy   of   all   information   they   have   provided   to   the   CBAL   and   agrees   to indemnify   and   hold   harmless   the   CBAL   from   any   inaccurate   information   reported.   It   is   preferred   the   Client   cease   all   contact   with   the   consumer once an account is placed with the CBAL and would rather Client refer all communication from the consumer to the CBAL. Upon   collection   of   account   or   payment   on   account,   the   CBAL   will   receive   the   full   applicable   commission   fee   of   the   total   collected.   If   the   Client receives   direct   payment   in   full   or   in   part   of   the   account   after   it   has   been   placed   with   the   CBAL,   then   the   appropriate   commission   is   due   to   the CBAL.   The   Client   must   notify   the   CBAL   when   a   direct   payment   is   received.   The   CBAL   only   receives   payment   of   commissions   for   the   monies that are collected. After   completion   of   End   of   Month   by   the   CBAL,   we   will   provide   a   statement   to   the   Client   that   reflects   all   payments   received   by   the   CBAL   or Client   during   the   month   directly   to   the   Client   and   received   by   the   CBAL.   The   CBAL   will   deduct   all   commissions   from   the   payments   received   in- house   and   remit   payment   with   the   statement.   If   payments   have   been   made   directly   to   the   Client,   the   CBAL   will   adjust   commissions   on   the statement accordingly showing total payments made and commissions due. The   Client   may   cancel   an   account   at   any   time   after   90   days   of   initial   account   placement   date,   unless   the   account   is   in   the   payment   process,   or a   commitment   of   payment   has   been   made.   If   the   Client   still   wishes   to   cancel   the   account,   the   full   commission   fee   is   due   to   the   CBAL.   If   the consumer   makes   a   settlement   offer,   the   Client   will   be   informed   of   the   offer   and   their   options   as   to   accept,   counter   or   refuse   the   offer.      If   the CBAL is unable to contact the Client of the settlement offer the CBAL will act in the best interests of the Client.
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