A Collection Factoring relationship with Milberg includes credit review/approval, collections and bookkeeping. Financing from Milberg is not required.
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The client transfers the credit risk of bad debts on approved accounts to Milberg. Under the terms of a Collection Factoring arrangement, when factored receivables are assigned to Milberg, we become the owner of record of those receivables. Collections on receivables are then forwarded to the client as they are collected.
By outsourcing the collections and bookkeeping functions associated with handling receivables, the hassles and high costs of running collections, receivables and credit departments are virtually eliminated for the client.