Frequently Asked Questions
Is Credit & Financial Services a collection agency?
No. Credit & Financial Services is an accounts receivable management firm. We specialize in the reconciliation, resolution and recovery of low potential receivables, including unauthorized and unidentified deductions, shortages, and disputed and aged invoices. Credit & Financial Services has the knowledge and expertise to reconcile major customer accounts and solve problems with your most sensitive customers.
Our staff does not work on commission which eliminates any temptation to "push" your customer. And Credit & Financial Services contacts your customers in your name to protect good will.
What about fees?
A weekly or monthly fee is charged for most management services. Depending on circumstances and volume, expenses such as mailing, phone and modem expense, may be billed separately.
Fees for audit and recovery projects, where there is an expectation of cash recovery, may be based on successful collections only. There would be no fee if a credit would be issued.
Who gets the cash?
You do. Funds are not diverted through our offices. All checks are mailed by your customers to your depository. You receive immediate use of your money.
Do you use temporary personnel?
All analysts/auditors and core office staff are full-time, salaried professionals. We do have temporary personnel available to us for start-up tasks such as copying, mailing and data entry.
Do you visit our customers?
Yes, upon request. If a situation requires a personal visit, we will accompany you to present our documentation.
How involved is our staff with Credit & Financial Services staff?
After a brief orientation, we are self-sufficient.
Why should we use Credit & Financial Services when we already have in-house staff?
Receivable functions and administration can take the lion's share of your staff's time. A principle benefit of engaging our service is that it enables your staff to concentrate on your core business. We relieve administrative headaches associated with non-value added functions. Furthermore, through identifying efficiencies, reducing fully loaded costs, and improving processes we can increase profitability.
Is there any up-front cost?
A project deposit may be required. The deposit would be offset dollar for dollar by recovery billing or refunded in full at the completion of the project.