1. Once you are a client, a Service Representative will work with you to acquaint with all of the services that are available and help you set a program that will be the most productive and cost effective for your company. Please visit our main website at www.cmiweb.com.

  2. If the debtor pays only a partial payment and therefore still has an outstanding balance on the “final date”, there is no fee due on the payment received before the “final date”. The unpaid balance however would roll into Direct Collect and if collected would be subject to our standard collection fee.

  3. We have found that the best results are obtained on accounts between 90 and 180 days old. Accounts that have not paid for over 2 years require the more personal touch of an experienced collection professional. Based on that, we do not accept accounts over 1 year of age for the Final Demand Service.

  4. This is a situation where you are asking to close the file on a promise of payment. In our experience, most of these accounts have promised to pay numerous times before and their word is somewhat suspect. Based on that, we cannot close the file on a promise, but only on actual money received. Your best response to “the promise” is to advise your customer that you need the funds in house by the “final date” or they will be placed at CMI for collection.

  5. There is no cross in the mail period for Final Demands. Any payments received and reported after the “final date” will be charged CMI’s standard collection fee of 25%.

  6. The contingent collection fee on amounts recovered after the “final date” is 25%.

FAQ Archive
January 2023
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