Councilors discussed engaging an outside law firm to pursue borrower collections and asked staff to review contract terms and any account-threshold requirements before the council decides to hire the firm.
Staff reported that Jen had contacted an outside collection law firm (referred to in the meeting with a pronunciation similar to “porting off”), and the firm indicated it would send collection letters and handle collections without the town paying a consulting fee. Staff said the firm’s fees would be charged to the borrower rather than to the town, but staff will review the fine print to verify whether there are minimum account-volume requirements or other conditions.
Council members asked staff to confirm whether an appointment or formal engagement by the council is required to retain the firm and whether any upfront costs or minimums apply. Staff said they and other staff members, including Bob, would review the agreement and report back at the next meeting with findings and recommendations. No formal vote or contract authorization occurred during the special session.