Create your account with us (after registering you can submit accounts for collection).

Please read the Terms and Conditions, confirm your Account Information and then click the Agree / Confirm button to create your account.

Terms of Agreement between your business (Creditor) and Performance Source II, Ltd., (PS2Ltd), 4849 N Milwaukee Ave, Suite 504A, Chicago IL 60630. Phone: 773/205-8000. Rev. Jan. 10, 2004.

Serving you, PS II, Ltd. provides all services to creatively and professionally pursue recovery of bad debts submitted by Creditor. Litigation service is available at your discretion.

  1. Method of Placement - Creditor may place accounts for collection with PS2Ltd by any means convenient to the Creditor. These Terms and Conditions shall apply to all future placements by Creditor regardless of method of account submission.

  2. Fees - All services provided by PS2Ltd are subject to PS2Ltd's regular rate schedule (item #10, below), which may be amended from time to time by PS2Ltd. Invoices for services rendered by PS2Ltd are due upon receipt. Creditor shall incur a late fee of one and one-half percent per month on any unpaid amounts, and agrees to pay all reasonable costs of collection including court costs and attorney fees.

  3. Offset - Should Creditor fail to pay PS2Ltd sums due, PS2Ltd has the right to offset any monies due PS2Ltd against any monies due Creditor in addition to any other remedies provided by law.

  4. Commercial Claim - Creditor represents and warrants that the Creditor's claim arises out of a commercial account (a claim against a corporation, partnership or proprietorship conducted as a business venture) and that the claim is valid and lawful in all respects.

  5. Information - Creditor consents to Performance Source's use of any information supplied by Creditor and warrants and represents to Performance Source the truth and accuracy of such information. Creditor authorizes Performance Source to release information concerning the existence of Creditor's claim to credit reporting agencies.

  6. Attorney or other Forwarding Agency Involvement - Creditor authorizes PS2Ltd, if necessary, to forward accounts on Creditor's behalf, to attorneys, or other forwarding agencies, for collection. On those accounts, the attorney/agent/receiver is the agent of the Creditor and subject at all times to the Creditor's direction and control. PS2Ltd shall not be responsible for the acts or omissions of such attorneys/agents/receivers.

  7. Hold Harmless - Creditor shall defend, indemnify and hold harmless PS2Ltd, its agents and employees, from and against any and all liability, loss, claims, demands, suits, actions, damages or expenses (including reasonable attorneys' fees) of every nature or description arising out of or resulting from any of the following: (a) any amendments to the rate schedule of services provided to Creditor by PS2Ltd; (b) the truth and accuracy of the information provided by Creditor; (c) the validity and lawfulness of Creditor's claim against the Debtor; (d) the Creditor's claim arising out of a non-commercial account; (e) any acts, omissions or claims of any attorney or forwarding agency relating to any account forwarded by PS2Ltd on Creditor's behalf for collection.

  8. Endorsement Authorization - Creditor authorizes PS2Ltd to endorse in the name of the creditor and deposit in its escrow account any and all remittances in any form payable or endorsed to Creditor, which come into the possession of PS2Ltd while performing services for Creditor. Creditor authorizes PS2Ltd to deduct PS2Ltd's fees from these payments. Additionally, PS2Ltd will be entitled to a commission on all pay directs, merchandise returns or on accounts withdrawn pending collection.

  9. Withdrawal - Creditor has the right to withdraw an account at any time. PS2Ltd reserves the right to charge a full fee for any account that is withdrawn pending collection. If attorney involvement was initiated, the attorney may assess an additional fee

  10. Rates - contingent upon success:

    PS2Ltd is entitled to commission on all: payments, (whether to Client, PS2Ltd, assigned agents and attorneys, or others), accounts paid prior to placement, merchandise returns; or on accounts withdrawn pending collection, as listed below.

    Business to Business (B2B) collection - 22% on claims $300.00 or above, 30% on international accounts. 40% on claims over 1 year old, less than $300.00, 2nd placements, or non-B2B accounts. Minimum fee is $25.00.

    Consumer collection - Call for assistance, 773 / 205-8000 ext.202. Forwarded accounts (To Attorney or Agency) - 30% of the amount recovered for B2B claims, 40% for international, 50% on claims over 1 year old, 2nd placements, or non-B2B claims.

    Suit - 40% for commercial accounts, 50% for international, claims over 1 year old, 2nd placements, or non-B2B claims. Includes suit fees. Some attorneys may request a non-contingent suit fee in advance, usually not to exceed 5%. This will be credited to the collection fee upon recovery.

    Court costs - Client advances court costs, which vary by jurisdiction. Suit is never initiated without client's authorization.

    Merchandise Return - Acceptance of return, or discovery of prior return, of merchandise for credit shall be charged at 1/2 the published rate.

    Withdrawal - Withdrawal of claim by client, pending collection, is billed at the published rate.

    Discovery of payment - Accounts paid, or credited, prior to placement shall be billed at 1/2 the published rate.

    Expenses - Reasonable expenses incurred as a result of recovery, such as bank fees (for NSF, wire transfers, ACH, etc.), credit card processing fees, taxes, express delivery fees, etc. are charged to client at actual cost.

  11. Amendments - PS2Ltd may amend the Terms and Conditions by publication to this website or providing Creditor with written notification and shall only apply to payments or claims after the date of publication.