Collection Policy and Terms

Terms and Conditions: You must agree to the following terms in order to place an account for collection with NACM MidAmerica:  In receiving items for collection, the Association acts only as your agent, and while it endeavors to select only responsible representatives among its correspondents, assumes no responsibility for the acts, omissions, neglect or default of correspondents or sub-agents, to whom items are forwarded for attention. Remittances are frequently paid directly to your office. Please notify us promptly of any payments made to you or your office. Kindly advise this office before accepting payment arrangements from debtor. Statement should be faxed to accompany the online Claims Placement. Promptly notify this office of any payments made directly to your office. Collection Rates Free Demand Collection (Must be Requested): No charge if paid and reported within the ten calendar day period allowed. When items are placed with the Bureau under the Free Demand Service, the claim will automatically follow through to contingent collection. Items placed into Free Demand are not subject to withdrawal. Without payment of fee. Rates: Are considered placed for collection and commercial accounts. Small Claims Rate: On accounts under $300 33 1/3% (unless volume discount applies)                ·  25% on first $2,000 collected              ·  20% of next of $2,000 up to $15,000              ·  12.5% on excess of $15,000 Special Accounts: When: formerly handled by another collection agency or attorney 50% Commission When: returned merchandise or equipment as settlement 50% (one-half) of the prevailing commission - commercial or retail. When: Debtor has disappeared and account requires tracing 50% Commission When: Balances are adjusted due to credit memos and payments made and not posted prior to our handling, discovery fee equal to . . . 1/2 of prevailing cost Accounts Placed for Collection are NOT subject to withdrawal without payment of commission.     For more information, call us; no waiting; you get real, live people: 1-800-593-0907 The NACM MidAmerica staff is eager to serve your needs. Home | Education | Resources Info Request | Calendar of Events