The nature and extent of services which will be called for and which may be rendered cannot be predicted. YCS will perform collection services on a contingency fee basis. If no money is recovered, no fee for professional service will be due to YCS. YCS will be entitled to receive its fee on all amounts recovered from any source after a claim has been placed with our office. Our fee is 33% of all money recovered. Our fee increases to 40% of all money recovered after referral to an attorney. The 40% fee also applies to judgments you forward to YCS for collection. You agree to cease all communication with the debtor(s) once a claim is placed with our office. If payments(s) are paid directly to you after a claim has been placed with our office, you agree to notify YCS of the amount and date of each payment, and pay the above fee to YCS on the amounts paid directly to you. You also agree to instruct the debtor to make future payments directly to YCS and to communicate directly with YCS. You authorize YCS to deposit and/or endorse checks made payable to you for debts forwarded to YCS for collection.
YCS will obtain your approval in advance of incurring expenses, and also prior to referring your claim to any attorney for collection. You agree to pay for all approved expenses within 20 days of the date of our bill for the same.
YCS provides its own Business Associate Agreement (for HIPAA Compliance) to healthcare providers at no cost. If you choose to use your own Business Associate Agreement, a non-contingent fee of $150.00 will be due to cover legal fees involved in the review of your agreement by our legal counsel.
When you forward collection claims, please send copies of the following, if available: a YCS Account Placement Form, the bill, invoice, contract, promissory note or other debt instrument, mortgage or other lien proof, the judgment, the credit application, your last demand letter, any other correspondence between you and the debtor about the debt, one of the debtor’s payment checks, and any skip tracing or other relevant notes. Please also let us know the debtor’s (and co-debtor’s) employment, financial accounts, owned real estate and other income and asset information when you have it.
You agree to provide truthful and accurate information regarding the debt. You acknowledge that YCS will rely exclusively on the information you provide without any obligation to conduct an independent verification. You agree to indemnify and hold YCS harmless from any and all claims and expenses of any nature, including attorney fees and costs of defense, arising out of inaccurate or incomplete information you have provided. You agree to cease all communication with the debtor upon referral of a claim to YCS. By forwarding a claim to YCS, you represent that no other collection agency, attorney or Court Officer is pursuing collection of it, or is entitled to receive a fee based on collection of the claim.
YCS agrees to handle your claim in a professional and ethical manner.
You may close a claim if no payment has/had been made by the debtor, subject to the responsibility for fees set forth above and with the following conditions. If YCS is in the midst of negotiating a payment arrangement, settlement or pay-off, the claim cannot be closed until that is concluded. If YCS is obtaining payments from the debtor on a regular basis, the claim may not be closed. If you have authorized placement with an attorney, it may not be closed except with approval from the attorney which shall not be unreasonably withheld, and subject to payment of all Court costs incurred. If a claim is closed by you or YCS, and you have received any direct payment on the claim, YCS will be entitled to receive the above contingency fee on all such payments paid prior to the date of the return or closure. YCS may discontinue the placement and return a claim to you at any time. Upon doing so, YCS will have no further obligation to you and you will have no additional obligation to YCS.
In the event you fail to pay any amount due YCS under this agreement, you agree to pay the cost of collecting the same, including reasonable attorneys fees. Any dispute arising under this agreement, may be heard and determined in any court of competent jurisdiction in Monroe County, New York. This agreement shall be interpreted under New York law.