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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