01120p_2.pdf
PDF 528 KB Posted
- Attached to
- STATEWIDE CONTRACT WA|01120|W486
- Contract number
- 01120
- Issued by
- Washington
About this file
This document is a Pricing & Ordering document for Debt Collection Services (Contract 01120) issued by the Washington State Department of Enterprise Services. The contract includes three awarded vendors: Automated Accounts, Inc., Financial Asset Management Systems, Inc. (FAMS), and PMT Solutions, LLC. These vendors are authorized to provide debt collection services for the state agency.
The contract covers three primary types of debt collection: General Collections (unsecured debts from individuals/businesses), Educational Collections (unsecured student loans), and Legal Services Collections (acting on filed warrants and judgments). Each vendor offers tiered pricing based on debt size, with fee percentages ranging from 7.74% to 30% depending on the debt amount and collection type. The vendors will be compensated solely through a collection fee percentage of recovered funds, with sliding scales for debts below $15,000, between $15,000-$50,000, and above $50,000. Notably, FAMS offers the most competitive rates, with the lowest percentage fees across all collection categories, while PMT Solutions has the highest fee percentages, particularly for Legal Services Collections.
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Other files
| File | Type | Posted |
|---|---|---|
| 01120 Amd 1 Debt Collection-FAMS.pdf | ||
| 01120dhAutomatedAccts.pdf | ||
| 01120dhPMT.pdf | ||
| 01120t.xlsx | XLSX spreadsheet | |
| Automated Accounts Master Contract.pdf | ||
| PMT Solutions Master Contract.pdf | ||
| FAMS Master Contract.pdf | ||
| 01120a1-2_AutomatedAccounts.pdf | ||
| 01120 Solicitation Documents.pdf | ||
| 01120a1-2_PMT.pdf | ||
| 01120dhFAMS.pdf |
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Text version
Rev 5/17/2016 Page 1 of 2
01120 – Debt Collection Services Pricing & Ordering
Awarded Vendors
Automated Accounts, Inc.
Financial Asset Management Systems, Inc. (FAMS) PMT Solutions, LLC
The sole consideration to be paid to the Vendor for its services shall be the agreed-upon collection fee percentage of any monies recovered. Vendors have been instructed to propose a collections fee percentage for each kind of collection in the table below and also based on total debt owed by debtor, even though the contract was not awarded by category.
For example: If the total debt owed is $1,200 and the Vendor charges a collections fee percentage of 3%, the total owed by debtor would be $1,236 ($1,200 x 1.03).
Enterprise Services has not awarded by category for this contract. However, listed below are examples of the most common debts the awarded Bidder(s) may be asked to collect:
1. General Collections – Unsecured debts owed by individuals or businesses.
2. Educational Collections – Unsecured educational student loans. The methods for collecting private student loans are generally the same as any other type of consumer debt (like credit card debt, medical debt, etc.). It is fundamentally different from federal loans, where the Department of Education has fairly broad and far-reaching rights to collect the debt without a lawsuit.
3. Legal Services Collections – Legal Services associated with acting on filed warrants and judgments. This will include the levying of any money sources, as well as the garnishing of wages. All legal action will be taken in the name of the awarded bidder, in accordance with RCW 19.16.270.
Automated Accounts, Inc.
Points of Contact Client Administration Adam Gumke, Automated Accounts, Inc.
(509) 326-2276 adamg@automatedaccounts.com
Client Administration Chris Leinweber, Automated Accounts, Inc.
(509) 326-2276 chrisl@automatedaccounts.com
Pricing Fee Percentage (%)
Debts Below $15,000
Fee Percentage (%)
Debts Between $15,000 - $50,000
Fee Percentage (%)
Debts Above $50,000
General Collections 20% 15% 10%
Educational Collections 20% 15% 10%
Legal Services Collections 20% 15% 10%
Rev 5/12/2016 Page 2 of 2
Financial Asset Management Systems, Inc. (FAMS) Point of Contact
Client Administration Veronica McCabe, Financial Asset Management Systems (FAMS)
(678) 254-3354 v.mccabe@fams.net
Pricing Fee Percentage (%)
Debts Below $15,000
Fee Percentage (%)
Debts Between $15,000 - $50,000
Fee Percentage (%)
Debts Above $50,000
General Collections 19.24% 14.24% 8.24%
Educational Collections 15.49% 11.24% 7.74%
Legal Services Collections 19.24% 14.24% 9.24%
PMT Solutions, LLC
Point of Contact Client Administration Ollie Garrett, PMT Solutions, LLC
(425) 881-1312 ollie@pmt-solutions.com
Pricing Fee Percentage (%)
Debts Below $15,000
Fee Percentage (%)
Debts Between $15,000 - $50,000
Fee Percentage (%)
Debts Above $50,000
General Collections 25% 20% 15%
Educational Collections 25% 20% 15%
Legal Services Collections 30% 30% 30%
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