I've had client's who have used Factors in the same way as Kevin has spoken of and it has
saved their businesses. There is a fee charged by the Factor, but it works out better
than a collection agency because a part of the past due accounts are paid to the creditor
in advance, thus allowing the creditor to maintain cash flow and stay in business.
However, the Factors can be particular about the accounts that they will take on. But if
the accounts owed to CMS are from the deep pocket companies mentioned in the CMS
thread, it would appear that the standard would be met.
Kevin, I think you have come up with worthwhile solution. I hope all those owed by CMS can
find someone at that company with the ability to take that step.
And, as you mentioned it may be a good solution for all of us who are debts from other
companies.
Take care,
Lin
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