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Financial Resources is affiliated with FMSI as a sister company, but operates
as a separate, stand-alone entity. As such, Financial Resources services are not exclusive to FMSI
Members and FMSI Membership is not a requirement of Financial Resources usage. Financial Resources operates
with a separate fee schedule and all products and services are available on an as-needed basis to all
wholesale distributors. The valuable credit management services available through Financial Resources
include:
- Commercial debt recovery services provided on a contingency basis with maximum dollar
recovery.
- Lien filing services (available in most states).
- Access to a nationwide network of legal counsel when necessary.
- Credit management services provided through the Credit Verification Program ("CVP").
For a low per file fee, CVP will check vendor references and provide your choice of business and personal
credit reports through Experian and D&B to assist in enhancing the credit quality of your portfolio. An
industry-specific, credit-scoring system is also available to assist in formulating a quick credit decision.
Additionally, CVP can be used to keep your credit records current and track trade reports
on current or potential customers as changing markets and management directions can quickly alter the
health and stability of a company.
- Receivables management provided by industry-specific professionals with over three
decades of experience.
- Competitive fee structure.
- Special reduced pricing for unique 90-day collection outsource program.
Financial Resources will assist your credit department in collecting your chronic 90-day customers
prior to the final stage of terminating their credit and sending them to collections. The
probability of collecting an account delinquent to 90 days drops to 73%. The Financial Resources program
increases the likelihood of collection through immediate action by reducing the collection schedule,
prompt dispute resolution and open communication.
- Financing plans available for qualified debtors through FMSI installment programs,
enabling the wholesaler to be paid immediately.
- Portfolio valuation and acquisition services available.
- Assistance in review and formalization of Credit Department policies and procedures.
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