Account receivable factoring


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Account receivable factoring

Account receivable factoringAccount receivable factoring

Nationwide Debt Collection

Large companies and small business owners finding that they are faced with the frustration of overdue accounts receivable should be contacting one of the most experienced and knowledgeable collection agencies available. In 1963 Jim Herst founded Performance Source 11 Ltd., a nationwide debt collection agency with a difference. Although based in Illinois Performance Source performs both nationally and internationally and is a licensed and bonded company.

Performance Source has chosen to side-step the convention collection agency methods and does not write letters which simply adds on more wasted time before a satisfactory solution can yield returns. As a nationwide debt collection service, Performance Source energetically but courteously pursues outstanding accounts receivable. There is always a personal and professional contact with debtors and the rate of contacts will be at least once a week and can be as many as five meetings in the first thirty-five days. Debtors will always be be contacted by the same responsible and efficient agent. Clients of Performance Source may utilize the free services of one of the company's attorneys for consultation if desired.

Jim Herst's many years in a successful career gained from his experience in credit offices, collection services, sales and marketing led to his thorough understanding of the problems of traditional collection procedures and when he launched the opening of Performance Source he made the transition to a more modern approach to the nationwide debt collection. Collected debts are always made directly to the client obviating the sometimes long waiting period for an agency to forward monies. This method assures a quickler cash flow for the client and less work for their internal accounting departments owing to the actual work being accomplished by Performance Source. The training of the nationwide debt collection agents results in a happy solution of less losses and costs to a client's business.

Clients of Performance Source will receive monthly or even more frequent reports regarding the status of their claims and they will have evidence of the creative and professional management of their affairs. Performance Source also acts in a consulting capacity to company management teams and advises on credit and collection systems. Once this nationwide debt collection agency is commissioned to recover outstanding payments the debtor is contacted immediately. Early and up-to-date information is essential if a satisfactory solution is to be arrived at in a timeous fashion. A company goes into business with the express determination to make the profits required for the development of an expansion schedule. This ambition can only be achieved when all the accounts receivable are securely collected. In severe cases of slower payment of accounts due the very survival of the company can be threatened.

Performance Source has a merited and respected reputation as being an experienced and successful nationwide debt collection agency. The company's tried and trusted methods of constant and persistent though courteous personal contact with debtors improves the early collection of outstanding accounts receivable as well as the client's in-house cash flow. In general the fees charged by Performance Source are considerably less than those of most debt collection agencies and if there is no result no fee is charged. A most important fact concerning this nationwide debt collection agency is that in 65% of cases taken the debt is repaid and in the bank in as little as forty-five days.

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