Contingency Based Debt Collections Vs. Buying & Selling Debt – Nexum Group Inc | Florida Debt Collection Agency

Contingency Based Debt Collections Vs. Buying & Selling Debt

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Contingency Based Debt Collections Vs. Buying & Selling Debt

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Knowing the two types of debt collections is importing to both upcoming agencies and business owners with accounts receivables. Collection agencies either buy the debt they are collecting on, or they simply get a percentage of what is collected. There are certain circumstances where up front fees are required to pursue the debtor through contingency collections, but the return can be far higher.


Bottom line, depending on what you are trying to do is the best option for you. If you are trying to just dump your accounts, get paid, and move on; the second option might be the best route. Contingency collections are ideal for continuing business for a multitude of reasons. Your collection agency is supposed to be a representation or extension of your business. You do not want “hungry” collectors harassing your clients/patients/etc. You can also get a higher percentage for a little more work with contingency collections as well.

Thanks for reading!

– Mike Murphy
Nexum Group Inc.

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      This agreement is made between Nexum Group and You herein referred to as client.

      1. Client warrants the authenticity of all claims placed with Nexum Group for collections. Client agrees to forward supporting documentation for each claim to prove the validity of the debt upon request.

      2. Nexum Group agrees to use its best efforts to collect on any and all claims submitted.

      3. Claims placed with Nexum Group by CLIENT shall be charged the below contingencies.

      Any claim under (1) year over $1,000 shall be charged a contingency of 30%. Any claim over (1) year over $1,000 shall be charged a contingency of 35%. Any claim that is under $1,000 or requires litigation shall be charged a contingency of 40%. Nexum Group is owed its respected fee regardless if the debtor pays the CLIENT directly or Nexum Group.

      1. Client shall report all direct payments made within (4) days of receipt of payment. It is agreed that commissions due on direct payments shall be remitted to Nexum Group within (14) days.

      2. Any merchandise returned to CLIENT by debtor will entitle Nexum Group to a 10% contingency of the invoiced amount.

      3. CLIENT agrees that Nexum Group can forward a case to an outside law firm to assist in the recovery to assist in the recovery and grands permission to do so at their discretion. CLIENT must give the approval to transfer the case if the transfer results in additional charges

      4. Any claim placed by CLIENT that is found to be placed in error or previously paid will be bill by Nexum Group at a rate of 10% of the amount.

      5. Nexum Group shall account to client all payments collected monthly and provide portal access to track payments online. CLIENT will be provided a statement enclosed with each payment made by Nexum Group. Anything collected before the end of each month will be remitted at the end of the following month.

      6. CLIENT may recall a claim forward to Nexum Group if the claim is not in legal status or there has been no recovery on the account within 90 days. Any cancellations must be expressed in writing via email to corporate@nexumgroupinc.com. Upon cancellation, all fees owed to Nexum Group shall be paid in full. Claims withdrawn after payments have been received or intended to be received CLIENT shall be charged the full contingency for balance submitted. 

      7. This agreement shall is governed by the laws in the state of Florida. In the event, any provision is found to be invalid or unenforceable, that provision shall be deemed removed and remaining provisions shall remain in full effect.

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