Commercial Trade, Inc. Debt Assignment Form

 Please fill out the following fields to assign accounts online. By clicking the submit button on this form I have read and agree to the terms, conditions, and commercial rate schedule as indicated at the bottom of this page.

Your Business Name:

Telephone Number:

Fax Number:

Date: 

Time Zone:   
Address:
City:

State: Zip:


1. Debtor's Business Name:
Telephone Number: Contact Name:
Name of Principals:  Client Ref #:
Principal Amount: Date of Last Charge: Date of Last Payment:
Service Charges:  Account Based On: Debtor is a:
Total Amount: 
Account Papers (check all that apply): Application  Statement  Ledger  Invoices    Copy of Check
Bank Name (if applicable) Phone: Account #:
Other Information / Summary of Any Disputes (Please Describe in the box below):

2. Debtor's Business Name:
Telephone Number: Contact Name:
Name of Principals: Client Ref #:
Principal Amount: Date of Last Charge: Date of Last Payment:
Service Charges: Account Based On: Debtor is a:
Total Amount:
Account Papers (check all that apply): Application  Statement  Invoices  Ledger    Copy of Check
Bank Name (if applicable) Phone: Account #:
Other Information / Summary of Any Disputes (Please Describe in the box below):

Information is placed on Multiple Credit Records. Submission of this form, with or without a signature, will constitute an original document and a valid placement of debt.  I/We agree that all terms and conditions as itemized below apply to all placements of debt, including initial and subsequent assignments. I/We give permission for CTB to contact us directly by email, FAX, U.S. mail, telephone, etc., in the course business, which shall include marketing, customer service and client relations, keeping CTB in compliance with the Telephone Consumer Protection Act and all of its provisions and FCC rulings.

COMMERCIAL RATE SCHEDULE

  • 10% for Standard Assignment Clients for accounts over $500 where the Complete Original Balance is 45 days or less.

  • 25% for Volume Assignment Clients for accounts over $500 with a 10% increase for Attorney Involvement.

  • 50% for Small Balance Accounts of $500 and less.

  • 50% Rate for Special Handling Accounts: Closed Businesses,  "Skip," Bankrupt,  Client Judgments, Forwarded Accounts and Settlements of $500 and less than.

  • 25% Fee for Client's Errors and Omissions resulting in account cancellation; and for all cancellations requests.

Note: Commissions paid on all monies, value, and considerations received.  Specifically, full commission charged for "Returned Merchandise" and "Trades" accepted by client.  In the event that a client changes their mind regarding litigation after agreeing earlier, C.T.B. shall bill the client for the cost of legal fees, court fees, and the scheduled fee.

I/We herewith assign, transfer and set over to Commercial Trade, Inc., together with cause of action, the account/s assigned on the reverse side for collection, as well as, accounts listed under separate cover and/or placed verbally and electronically.  Additionally, I/we agree that a complete faxed copy of this assignment form, with or without a signature, will constitute an original document and a valid placement of debt.  All terms and conditions apply to the placement of all debt, including initial and subsequent assignments.

The above commission rates will be charged on all accounts unless otherwise specifically agreed in writing by an officer of CTB.  All sums collected in addition to face amount of claim shall be retained by CT.B. in addition to fees herein provided for, including any and all sums that may be collected as interest, costs, or attorney's fees, excepting client advanced court costs.  CTB is granted authority to refer accounts to its legal office for attorney involvement and litigation as deemed necessary.

If the assigned claim is based in full or in part upon a non-sufficient funds check, I/We hereby assign the underlying debt along with any and all statutory damages to Commercial Trade, Inc..  Commercial Trade, Inc. will add a $25.00 bad check fee to all assigned claims based upon non-sufficient funds checks unless notified in writing by the original creditor.    

I/We hereby give and grant unto said assignee full power and authority to compromise or settle claim.  I/We hereby give and grant unto said assignee full power and authority to collect, sue for, endorse, remittances and ratify and approve all his acts in the premises.

This agreement does not constitute an implied guaranty regarding the recovery of debt.  Furthermore, CTB reserves all rights regarding the qualification of accounts for all legal actions and collection procedures, as well as, retains the rights to cancel accounts as deemed necessary.  All collection activity is performed by CTB in good faith and the assignor agrees to hold the assignee harmless regarding any loss of rights.  

The minimum term of assignment for all collection accounts shall be deemed to constitute a term of one (1) year from the date of assignment.  CTB shall be entitled to reimbursement for court costs and attorney fees regarding accounts that are requested by the client for cancellation.

I/We hereby give permission for CTB and its representatives to contact us directly by email, FAX, U.S. mail, telephone calls, personally, etc in the reasonable course of conducting business, which shall include marketing, customer service and client relations, keeping CTB in full compliance with the Telephone Consumer Protection Act and all of its provisions.