PRESTIGE SERVICES, INC. (PSI) CLIENT / CREDITOR SERVICE AGREEMENT

As of the Effective Date (date of registration), Prestige Services, Inc. (hereafter known as “PSI”, “we,” or “us”) and the Client/Creditor (defined in the registration page) agree to the following conditions. Client/Creditor agrees to these Terms and Conditions to register on https://psicollect.com and to submit debtor files to PSI. Upon receipt of account(s) placed with PSI, PSI will proceed with the collection process and work the account(s) until resolution as further described below. Upon collection of an account, PSI will receive the commission fee agreed to herein. If Client/Creditor receives direct payment in full or in part of an account placed with PSI, then the appropriate commission is due to PSI upon submission of an invoice to Client/Creditor. Furthermore, Client/Creditor must immediately notify PSI when a direct payment is received or direct communication from the debtor is received.

TERMS:

1. It shall be the intent of Client/Creditor to retain the services of PSI for the purpose of providing debt collection services. PSI agrees, understands, and acknowledges it shall, at all times, comply with all state and federal laws while providing such debt collection services. Additionally, in the interest and spirit of maintaining the highest level of ethical and professional standards the parties agree to conduct themselves in accordance with the FDCPA, Fair Debt Collection Practices Act, and FCRA: Fair Credit Reporting Act. Further, all collection activity shall be conducted in accordance with the Operative Guidelines of the CLLA, Commercial Law League of America.

2. PSI is granted absolute discretion and authority to act as it deems appropriate in the collection of claim(s) and is authorized to accept partial payments. Furthermore, PSI shall have the right to endorse for deposit and collection any checks payable to the Client/Creditor from their debtor claims that they have submitted for collection.

3. Creditor/Client grants to PSI full discretion and authority to proceed with all collection efforts it deems necessary, including the referral of claim(s) to attorneys for the filing of suit, obtaining of judgments, and post judgment enforcement.

4. Creditor/Client agrees to have no further direct contact with the debtor(s) once the files are placed with PSI unless they obtain permission/authorization from PSI.

5. The compromise or settlement of any claim(s) will not be made by PSI without the prior consent of the Client/Creditor unless Client/Creditor is unresponsive to requests from PSI for confirmation or if Client/Creditor has ceased business.

6. PSI works in accordance with the FDCPA and as such, all communications and contact with the assigned debtor will be conducted by PSI or their attorneys. Such communications will include direct payments, return of merchandise, phone calls or letters.

7. Client/Creditor agrees not to assign any collection files assigned with PSI to other agencies, attorneys or any other parties. Creditor/Client further agrees that if the claim(s) are withdrawn without just reason or cause that compensation of standard contingency fees will be paid to PSI.

8. Client/Creditor agrees to notify PSI immediately of any direct payments and/or communications or return of product (merchandise). Client/Creditor agrees to pay PSI fees on any accounts that are resolved directly. Resolution of an account/claim will be considered as, but not limited to: Payment(s) made, return of merchandise or product, trade of services, payment schedules or any arrangements that resolve the balance owed such as re-negotiated contracts.

9. Suit fees, court costs, and asset search fees including bank search fees associated with legal action will be the responsibility of Client/Creditor upon Client/Creditor’s prior approval. PSI is not responsible for the costs or fees requested or required by the attorney(s) for legal action.

10. PSI reserves the right to reject, return or close a file back to Creditor/Client for any reason at any time.

11. PSI is not responsible for the failure of Creditor/Client to provide all documents related to files they place that may impact the resolution, handling or legal position of the claim. Client/Creditor is responsible to make PSI aware and bring to the attention of PSI any important documents including, but not limited to, credit applications, contracts, or signed personal guarantee(s).

12. Client/Creditor is required to notify PSI of any disputes they are aware of on any claims placed for collection and to provide their detailed response to such disputes.

13. The collection rates for services are the rates described on our website or as agreed to via both parties by email confirmation.

14. Any remittances made to Client/Creditor that are deemed or discovered to be invalid for any reason such as credit card charge backs, bankruptcy "claw back" for preferential payments of paid funds, fraudulent payments, bad/invalid/NSF checks or for any other reason funds would be deemed invalid or voided, must be refunded back to PSI.

15. Entire Agreement; Severability; Amendment and Waiver. This Agreement constitutes the entire agreement between the parties and supersedes all prior understandings and agreements, whether written or oral, that may relate to the subject matter of this Agreement. The Agreement will be binding upon and inure to the benefit of the parties, their legal representatives, permitted transferees, successors, and assigns as permitted by this Agreement. Should any provision of this Agreement be held by a court of competent jurisdiction to be illegal, invalid or unenforceable, such provision shall be deemed modified to the extent necessary (consistent with the intent of the parties) to eliminate the illegal, invalid or unenforceable effect or shall be deleted if modification is not feasible, and the remaining terms shall continue in full force and effect. Any term of this Agreement may be amended, modified, or waived only with the written consent of the parties or their respective permitted successors and assigns, and any such valid amendment or waiver, pursuant to this paragraph, shall be binding upon the parties and their respective successors and assigns.

16. Governing Law. The Agreement and all disputes arising under or related to it shall be governed by the laws of the State determined or chosen by PSI at their sole discretion.

17. Miscellaneous. The Agreement may be executed simultaneously in two or more counterparts, each of which will be considered an original, but all of which together will constitute one and the same instrument. Headings used in this Agreement are provided for convenience only and shall not be used to construe meaning or intent. The parties shall not be liable for any failure or delay in the performance of its obligations under this Agreement for any cause beyond its reasonable control including, without limitation, acts of God, fire or other disaster or telecommunications, power or Internet failure. The occurrence of any such event shall toll the time period provided in this Agreement for performance by the affected party.