Common use of Account Selection Clause in Contracts

Account Selection. Accounts are selected by PASI monthly to be placed with a “Secondary Agency” for additional collection efforts. An account qualifies based on the circumstances or “events” that have occurred during the collection cycle. An account will qualify for placement only if (i) there has been no payment on the account for 180 days after placement to PASI; (ii) such account is not in a payment disposition, i.e., post-dated payment, promise to pay, pursuit of garnishment, etc. and (iii) PASI has been collecting on such account in the normal course of business for 180 days. This qualification can be accelerated if an account is deemed uncollectible earlier in the collection cycle (i.e. no demographics supplied or discovered during skiptracing efforts) or the time period can be extended (i.e. payments were received for several months and then the debtor discontinued paying due to financial issues). Accounts with a “Propensity to Pay” score greater than 800 shall be held for up to two (2) years due to the probability of obtaining future payments.