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Services |
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Service, by definition is the act of providing for the welfare of
others, a helpful act or useful labor that does not produce a
tangible commodity. CMI is a service company that engages in the
recovery of commercial delinquent accounts on behalf of our clients.
The true tests are in three areas:
- How well do we perform?
- How well do we aid our clients in achieving their
objectives?
- How do we make our clients' jobs easier?
Performance has a direct correlation to the percentage of your
money being recovered. Our unique collection program is designed to
insure your company the maximum recovery possible. CMI makes
it easy for you to know at all times how we are performing through
our daily online reports. We can help you achieve your objectives by
creating a receivable recovery plan that can include outsourcing,
letter series services, as well as direct collect and legal
forwarding services. CMI can design reports specially geared for
each stage of the recovery process. We never forget that our
business is your business. |
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Direct Collections |
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CMI has created a comprehensive system for working your
problem commercial accounts. Our professional collection staff contacts your
debtors using a computerized collection system that forces all of the
accounts to be worked by a pre-programmed strategy developed by management.
The collectors cannot pick and choose which accounts to call, but rather
they are force-fed the accounts on a daily basis. CMI's goal is to have
their collectors speak with the check signer a minimum of twice a week. This
amounts to four calls by CMI for every one made by other agencies or
attorneys. CMI's collection procedure is designed to produce the maximum
flow of dollars from the debtor to you. Your bottom line is our primary
concern.
Asset and Liability
Investigation: CMI has constructed a national network of licensed
and bonded private investigators. Within hours of being hired, the PI can
start a background search of the business in question. Because he is local
to the debtor company, the PI often possesses personal knowledge of the
business or its principals. He has direct computer links to court records as
well as motor vehicle and real property information. CMI's PI is able to
review public record information on the company and its officers going back
as far as ten years. He can also perform searches of various newspaper
sources for articles concerning the business. Next, a facility inspection of
the debtor's premises is arranged. The PI personally visits the company
seeking to interview the debtor and his employees. His trained detective eye
searches for red flags that may signal corporate fraud. Inventory and lists
of equipment are compiled and photographed. Banking and cash flow
information is ascertained where possible. Since this knowledge is acquired
first hand by a professional, all of the procedural rules of evidence are
adhered to. Due diligence is the watchword of the investigation. If there is
personal liability, then a search is conducted on the owners or principals
of the business. An inspection of their real property and other assets is
performed. Photographs are taken in order to verify any property or motor
vehicles on the premises. The debtors know that because of CMI and its PI
National Network, they will have to answer tough questions during a possible
trial. When a client hires CMI, he has added the fourth dimension to
his collections - the Private Investigator. He is not forced to rely on just
letters and phone calls to recover his money. He is no longer obligated to
obtain worthless paper judgments through the courts. The Credit Professional
now possesses the information necessary to increase his recovery rate. CMI's
client has attained the superior knowledge needed to decide when and how
much should be invested in the legal pursuit of the debtor company. The
inquisition by the PI lets the debtor know that the client is serious about
recovering his money. The visit will very often produce a response and an
offer to pay. When a solution to the problem is found and CMI’s professional
collectors negotiate a satisfactory repayment plan, the client wins. The
client wins because he has quickly recovered his money and avoided court and
the prolonged time and cost associated with it.
Electronic Payments:
When a debtor agrees to pay the bill, the CMI collector offers to process
that payment through one of our electronic payment systems. This makes
it more difficult for the debtor to say no and resolves the bill very
quickly, often within hours. In the time it takes for a check to
arrive by mail, CMI has the payment in our office, posted and cleared. All
electronic payments collected by CMI are verified twice to insure the
correctness of the payment information. CMI currently uses 3 types of
Electronic payments. They are as follows:
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ACH System
(to
see more details click here) |
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Tele-Pay System
(to
see more details click here) |
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Credit Cards
(to
see more details click here) |
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Legal:
For
those accounts that require the attention of an attorney, CMI has developed
a network of lawyers who specialize in the commercial practice. Once our
collector's effort has been expended, we will forward your debtor to an
attorney located in his geographical area. For no additional charge, the law
office will send a letter and contact the debtor account on your behalf.
CMI's goal is to protect your interests by securing proper representation
for you. Once that is accomplished, you are able to utilize the due process
of the law to assist you in recovering your money.
Credit Bureau
Reporting Member: All debtors, who have not paid their
balance within 30 days from the initial placement date, are reported to
Experian Credit Bureau. This report will remain on their file for up
to 7 years and may impact the future credit worthiness of the debtor
company. Any payments or status changes are updated on a regular
basis.
Please schedule an appointment
with one of our sales representatives to find out more about our Direct
Collections Service by
clicking here, or calling 1-800-456-3328 ext 147. |
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Accounts Receivable Portfolio Liquidation
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CMI works with banks, law firms, bankruptcy trustees and turnaround specialists to maximize the recovery on commercial accounts receivable portfolios.
All of the resources of our professional collection service are also available to our Portfolio Liquidation clients. We will work with the client to
customize a program that will effectively and professionally turn those receivables into cash flow for the business or creditors.
The designed program can include any of the following or a combination of each type of contact:
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Outsourcing - |
Customer service type
calls done by either first or third party. |
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Letter Series - |
A letter campaign
designed to inform and motivate the customer to resolve the
outstanding bill. |
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Direct Collect - |
Third party direct
collection contact with the customers. |
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Litigation - |
Nationwide Attorney
network for filing suit. |
CMI assigns a dedicated team to run each project. This team will work with the client to create the best program for recovery
and project benchmarks for performance along the way. In addition to recovery, CMI will generate the reports necessary to best
serve our customers. These can be delivered in a spreadsheet format via the internet. The team leader is also available for conferences
where multi-lenders or locations are involved.
We can meet all of the cash flow requirements because of our selection of remittance types and schedules. CMI’s accounting department makes
sure that all funds are posted accurately on the day that the payment is received. There are no delays in cash application or your cash flow.
Online access to the files placed is available in real time. So whether you are in your office, at your home or traveling, you can view the
work we are performing on your behalf. Reports compiled on a daily basis are at your fingertips through our “Client-Net” System. To view sample
reports, please click here.
Please schedule an appointment with one of our sales representatives to find out more about our Accounts Receivable Portfolio Liquidation Service
by clicking here, or calling 1-800-456-3328 ext 147.
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Letter Series |
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CMI’s
letter service consists of a series of four letters mailed every two weeks
to the assigned debtor. The standard letter series starts with a reminder,
then proceeds through request, appeal, and finally demand type notices. All
letters instruct the debtor to mail his check to the client. No agency
contingent fee is involved beyond the upfront cost of sending the letters.
The advantage of this type of service is that costs can be predicted and
therefore budgeted into the planning. Additionally, regular collection
effort is contracted in advance so personnel shortages or computer downtime
or space limitations have no effect on the company’s bottom line.
CMI
offers the only letter series that has the ability to customize its letters
for the client. We are not speaking of a choice of a number of
letters, but rather the client can actually write letters that relate to
their own particular industry. They can experiment with different
letters until the maximum recovery is achieved.
The
letter series is competively priced and can be purchased for exactly the
number needed in excess of twenty-five accounts. Below is the unit
cost per account:
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Number of Accounts |
Ordered Cost Per
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25 to 100
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$10.00 Each
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101 to 500 |
$ 9.50 Each
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500 Plus
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$ 9.00 Each |
If the
account has not paid with the letter series, CMI will automatically roll
over each debtor into our direct collect process. Standard contingency rates
plus 10 % apply once the accounts are rolled over, unless otherwise
negotiated through written contract.
Please schedule an appointment
with one of our sales representatives to find out more about our Letter
Series Service by
clicking here, or calling 1-800-456-3328 ext
147. |
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Accounts Receivable Management (Outsourcing) |
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CMI is equipped to handle any of your accounts
receivable management needs. We are sensitive to your customers and yet
understand your need for continuous cash flow. First party collectors
handle all of the outsourced accounts in a different office so there is no
fear of your accounts being confused with “problem debts”. The project
appears seamless to your customers. We can handle your downloads and also
deliver custom reports to you in just the format that you want. Whether
your requirements are large or small, we will be happy to design a program
for your organization.
Because of the complexity of each project
please schedule an appointment
with one of our sales representatives to find out more about our Accounts
Receivable Management Service by
clicking here, or calling 1-800-456-3328 ext
147. |
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Commercial Credit Reports |
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CMI is affiliated with Experian Credit Bureau. We offer
a “pay as you go service” for business credit reports. Intelliscore,
commercial collection data, early warning signals, bankruptcies, tax liens,
judgments, and credit scoring are just a few reports that CMI can provide.
If you are faced with a tough credit granting or collection decision, let
CMI help.
When the
right information received in a timely manner would make all the difference,
call CMI.
Please schedule an appointment
with one of our sales representatives to find out more about our Commercial
Credit Reports by clicking here,
or calling 1-800-456-3328 ext 147
Click here to Order a Credit Report
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Asset and Public Record Search (Skip Trace Service) |
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Many clients
are faced daily with tough decisions like extending more credit, taking a
settlement from a debtor or litigating a problem account. Knowing that a
debtor has assets to pay your bill can help you make the right decision.
Vehicle, real property, and corporate searches are available to aid you with
this difficult task. Because each search is custom to your specific needs,
prices will vary.
Please schedule an appointment
with one of our sales representatives to find out more about our Commercial
Credit Reports by clicking
here, or calling 1-800-456-3328 ext 147. |
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Credit and Collection Training and Consulting
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Tough economic
times call for effective and efficient credit and collection departments.
CMI’s consulting team can analyze your procedures and develop a system
designed to increase your cash flow while keeping expenses to a minimum. We
have 26 years of experience helping clients of various industries improve
their bottom line. CMI can also create a training program for your
collection staff, which is geared specifically to address the issues your
business encounters everyday. Training and consulting services are billed
at an hourly rate.
Please schedule an appointment
with one of our sales representatives to find out more about our Credit and
Collection Training and Consulting by clicking here,
or calling
1-800-456-3328
ext 147. |
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Educational Seminars and Workshops |
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CMI offers
educational seminars and/or workshops that benefit the credit and collection
professional. They are designed to keep the business community
apprised of the latest techniques and information that affect our industry.
Seating is limited and admission is by reservation only.
Please
click here
to be added to our mailing list, or call 1-800-456-3328
ext 147. |
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