HomeMy WebLinkAboutCredit Bureau Services of Iowa, Inc.-3/14/2016AGREEMENT FOR COLLECTION SERVICES
ACiREEM ENT, made between: Waterloo Fire and Rescue (hereinafter referred to as "Creditor"), whose principal
place of business is located at 425 East Thrid Street, Waterloo, IA 50703 and Credit Bureau Services of Iowa, inc.
(hereinafter referred to as "Collector"), whose principal place of business is 1306 South 7'h Street, Oskaloosa, Iowa
52577.
WHEREAS, Creditor desires, from time to time during the tenn of this Agreement, tosubmit to Collector for
collection delinquent accounts, unsatisfied judgments, and/or dishonored checks hereinafter called Claims)..
WHEREAS, Collector desires to provide Creditor with collection services with respect to said Claims,
NOW THEREFORE, for and in consideration of the mutual covenants hereinafter set forth, it is mutually agreed by
and between the parties hereto as follows:
1. Collector agrees that all activities of Collector shall be carried out in compliance with all applicable
federal, state and Local laws.
2. Creditor hereby warrants that all Claims forwarded to Collector will be valid and legally enforceable
debts and that Creditor will both before and after forwarding said Claims, comply withall applicable
federal, state and local laws with respect thereto. Further, Creditor agrees to provide, whenever
requested to do so by Collector: a written verification of a Claim; a copy of the judgment, if any on
which a Claire is based; the name and address of the person or entity to whom the debt was originally
owed, if different from Creditor.
3. 1 f any court of competent jurisdiction shall rile that any provision of this Agreement is invalid or
unentbrceable, the remaining provisions shall remain in force and effect and shall not be affected by
said ruling.
4. This Agreement shall be binding on the heirs, legal representatives, successors and assigns of the
paries hereto.
5. Creditor and Collector agree that all actions taken by Creditor and Collector pursuant to this
Agreement shall be in accordance with the TERMS AND CONDITIONS, if any, set forth on the
reverse side hereof or attached hereto. Said TERMS AND CONDITIONS have been signed by both
parties and are hereby made a part of this Agreement fully and effectually as if they were set forth
herein. Thus, whenever the tenn "Agreement" is used herein, it shall be construed to include said
TERMS AND CONDITIONS. This Agreement, including the TERMS AND CONDITIONS, contains
the entire agreement between the parties hereto and cannot be amended or modified in any respect
except by an amendment in writing signed by both parties.
TERMS AND CONDITIONS
The parties agree as follows:
CLAIMS WILL BE WORKED ON A 30% CONTINGENCY BASIS. IF, HOWEVER, ACLAIM IS
REFERRED FOR LEGAL ACTION, FIAS PREVIOUSLY BEEN WORKED BY ANOTHER AGENCY, OR IS
FORWARDED TO AN OUT-OF-STATE AGENCY, THE RATE CHANGES TO 50%. LEGAL ACTION WILL
BE TAKEN ONLY AFTER COLLECTOR RECEIVES WRITTEN PERMISSION AND ASSIGNMENT OF THE
ACCOUNT FROM CREDITOR.
Creditor: I4I414400 F. t t &sCa c
Inc.
fay: 1. i k_t_L 'e `r l7V_ to —
Title: 1"3.
Collector. Credit Bureau Services oflowa,
By 2,1")
!2'-4,4— ...
'L (Brian Grimes)
Title: Director of Sales and Marketing
Credit Bureau Services of Iowa, Inc.
Barbara McBride
Medical Supervisor
Waterloo Fire and Rescue
425 East Third Street
Waterloo, IA 50703
Dear Ms. McBride,
1306 South 7th Street * Box 180 * Oskaloosa, IA 52577
641-673-3403 * 800-383-9427 * Fax 641-673-7913 * www.creditiowa.com
I would like to sincerely thank you for the opportunity to discuss Waterloo Fire and Rescue's
revenue cycle. As we are both well aware, medical facilities are going through dramatic changes
and I feel confident that creating a partnership with CBSI will be beneficial to your cash flows,
the community, and improve your overall patient experience.
Enclosed are some highlights about our company, key differentiators, and proposed rate. Once
again thank you for the opportunity to earn your business. I would be glad to come in person to
further discuss this proposal and what CBSI has to offer.
Warm Regards,
Brian Grimes
Director of Sales and Marketing
bgrimes@creditiowa.com
1-800-383-0234
Why CBS1
✓ Iowa based collection agency= Higher returns and positive patient experience
o As a local, family owned business, we understand the local culture, economy
and financial environment. Furthermore, CBSI has an advantage thanks to our
large consumer database. Over the past 60 years, CBSI has been collecting a
unique and detailed database on consumers in Waterloo and the surrounding
area. With this information, we are able to connect data points and create
economies of scale that other agencies cannot.
o Ponder this: When clients place a new account with us on average 75% of the
time that new account will link to others in our existing database. The net result
is more accurate data, already established relationship, and we can return more
while operating in a virtually complaint free environment.
✓ We truly care
o CBSI has been committed to customer and consumer service since 1955. Each
and every team member operates with a strong sense of pride. We realize that
the majority of the consumers we talk to live in small communities as well. Our
collection agents understand this, and are able to have an instant connection
with consumers resulting in better returns, while developing goodwill with
consumers.
✓ A completely personalized customer experience
o Unlike large national agencies, we never take a cookie -cutter approach. Our
approach and flexibility allow us to create a customized service package just for
your company. This personalized approach ensures the highest possible returns
with no complaints.
✓ Over 60 years of solutions that make sense
o At CBSI we find that cooperation, not demands, produces the best results.
That's why our agents are trained to work closely with individual consumers to
find mutually beneficial solutions. It's this win-win approach, coupled with
outstanding customer care, which has allowed our company to thrive over the
past 60 years.
✓ Secure HIPPA Compliant Technology that works for you
o For your convenience, our process is fully automated. As our client, you have
the ability to place accounts with us using our dedicated client access portal.
You will have the ability to generate complex reports, access detailed account
data and securely transfer files. All of your data is 128 -bit encrypted and is
compliant with HIPPA and regulatory bodies.
✓ Uncompromised Security
o CBSI understands the need for robust security controls and planning to protect
your information. We place utmost importance on security incorporating the
latest physical and firewall technology. All our systems are updated and
monitored 24-7-365. All computers are top of the line and we work on a triple
redundant virtualized computer server with daily backups.
o Compliance - CBSI is committed to compliance and take it very seriously. Our
compliance officer continually reviews our processes and we act proactively to
the constantly changing environment. We have a custom made compliance
management system, extensive documented policies and procedures, and
document all interactions with consumers. We stay well versed with all the
regulations governing our business activities. All our collectors are highly
trained with FDCPA, FCRA, HIPPA, CFPB, giving you peace of mind knowing
compliance issues will not tarnish your good name.
✓ The X factor "Our People"
o Our team members are some of the best in the business. Even though the
collection industry is plagued with high turnover, our average team member
has been employed with CBSI for over 15 years. We select our trainees based
on their communications, sales, and customer service skills, We then provide
them with the extensive training they need to produce outstanding results for
our clients. All of our agents are trained from the ground -up to treat your
customers with dignity and respect, while complying with all applicable laws and
regulations. This ensures that your company's image, as well as ours, remains
untarnished.
Rate Proposal
When it comes to contingency rates the lowest rate option does not typically lead to the highest
value or net dollars returned. The cliche "you get what you pay for" is very accurate for our
industry. Furthermore, we have over 60 clients on the books in the Cedar Valley area, hence we
are already working on many of the same accounts. Thls way we are able to combine our
efforts, connect data points, and put more effort toward each account.
Proposed Rate
• Regular Collection Accounts 30%
• Legal and Forwarded Accounts 50%
• Second Placements 50%