| DISCLAIMERS & DISCLOSURES:
With respect to each debtor file, we shall perform the services necessary to obtain current bank account data regarding the obligor in complete compliance with all applicable laws in performing the search, including, without limitation, the Gramm-Leach-Bliley Act (“GLBA”) Federal Banking Commission or State or Federal Laws (“FBC”), and the Fair Credit Reporting Act (“FCRA”).
It is agreed and understood that the definition of a “HIT” or completed results to be invoiced shall be defined as any open and valid bank or brokerage account regardless of account balance located by PROVIDER that is owned by the debtor. In addition, a “Hit” on a Verified POE to be invoiced shall be defined as the place of employment that is located by the Provider. Any Bank or Brokerage Account or POE data that is determined to be not valid at the time of discovery shall be credited back to the CLIENT, if discovery is made within the 90-day time period from the date that the GARNISHMENT DATA was forwarded to the CLIENT. A Credit is given when a Client receives a reply from the institution’s legal department indicating the account is “closed” or there is “no account” or Employer responds to court ordered garnishment that debtor is no longer or not employed at the verified POE and a re-verification by Provider of the data based on the information given by the Client corroborates the institution’s or employer’s findings. No re-verification can be performed without Provider being copied on the actual garnishment report. Garnishment reports must be dated within the allowable time frame of Provider’s guarantee. Credit may be taken either as a new and valid debtor garnishment hit or reimbursement to the CLIENT in the method it was paid to the PROVIDER. Credit or reimbursement is defined as Search Fees only as indicated on this Agreement. No other CLIENT fees related to GARNISHMENT DATA are reimbursable by PROVIDER including but not limited to filing, legal or execution of Garnishment. Reimbursement is only for Search Fees as indicated on this Agreement of Garnishment Data supplied by PROVIDER.
Due to the nature of this service, searching for asset locations and obtaining funds from them is a gamble.
The data we deliver to our clients is as accurate as we can be; however, we have no control over the ever changing nature of an asset. We also have no control over the response to the execution. We have determined that many times the bank is wrong with their response or returns misinformation in order to protect their accounts. Because we do an extensive search, we have very few bad hits, but they do occur. It is imperative when you receive a bad hit we are notified so we can re-verify ASAP. Many times pressuring the bank after re-verification confirms our original finding will result in a collected debt. |
