Credit Collection Services play a crucial role in helping businesses recover outstanding debts and maintain a healthy cash flow. This article outlines the key aspects of a comprehensive credit collection service, as detailed in a Federal Supply Schedule Price List from the General Services Administration (GSA). We will explore the services offered, pricing structures, and contractual terms for Credit Control Services, Inc., doing business as Credit Collection Services (CCS).
Understanding Credit Collection Services Offered by CCS
CCS, a large business operating under contract number GS-23F-0456P with the GSA, specializes in providing debt collection services. Their offerings encompass a range of activities designed to effectively manage and recover delinquent accounts.
Scope of Services
The core service provided by CCS falls under Special Item Number (SIN) 520-04: Debt Collection. This includes a comprehensive approach to debt recovery, encompassing:
- Collection Services: CCS undertakes various activities to collect outstanding debts, employing strategies tailored to individual debtor situations.
- Servicing of Defaulted Loans: This includes managing and administering defaulted loans, working towards resolution and recovery.
- Borrower Negotiations: CCS engages in direct communication with borrowers to negotiate repayment plans and settlements.
- Restructuring and Workout Agreements: When necessary, CCS facilitates the restructuring of debt obligations and develops workout agreements to help borrowers regain financial stability while ensuring debt recovery.
Pricing Structure
CCS offers a transparent pricing structure for their services, outlined in the provided price list:
- Contingency Fee: For standard debt collection services, CCS charges a 25% contingency fee, meaning they are paid a percentage of the debt successfully recovered.
- Administrative Resolutions: For administrative resolutions, a flat fee of $100.00 per account is charged. This likely covers actions taken outside of formal litigation.
- Litigation Preparation: If legal action becomes necessary, CCS charges $100.00 per account for litigation preparation. This fee covers the preparatory work involved in pursuing legal remedies.
Contractual Terms and Ordering Information
The GSA schedule outlines key contractual terms governing the provision of credit collection services by CCS:
Ordering Limits and Geographic Coverage
- Maximum Order: The maximum order value under this contract is $1,000,000.00.
- Minimum Order: The minimum order value is $300.00.
- Geographic Coverage: CCS provides services across the 48 contiguous states, Alaska, Hawaii, Puerto Rico, Washington, D.C., and U.S. territories. They also accommodate orders from overseas activities delivered to a designated port or consolidation point within the covered areas.
Payment and Delivery Terms
- Net Price: All prices listed are net prices, with discounts already applied.
- Prompt Payment Terms: Payment is due within 30 days of invoice.
- F.O.B. Point: The Free On Board (F.O.B.) point is Destination, meaning CCS is responsible for shipping costs to the designated delivery location.
Conclusion
Credit Collection Services (CCS) offers a comprehensive suite of services designed to effectively manage and recover outstanding debts. Their transparent pricing structure, defined service offerings, and adherence to GSA contract terms provide a clear framework for government agencies and authorized entities seeking professional credit collection services. For businesses struggling with debt recovery, engaging a specialized service like CCS can be a crucial step in maintaining financial stability and optimizing cash flow.
