Apex Financial Management Shatters Production Rate for Grassroots Start-up Collection Agencies; Company exceeds $2 million per month in the first four months of operation.BUFFALO GROVE Buffalo Grove A village of northeast Illinois, a suburb of Chicago. Population: 43,300. , Ill. -- Apex Financial Management, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , which opened its doors on May 1, 2004, to provide consumer and commercial accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying portfolio collection services, today announced that collections have already surpassed the $2 million dollar per month mark. This is believed to be the first time in industry history that a start-from-scratch collection agency has attained this level of productivity in such a compressed timeframe. Industry veteran, Bill Kolz, Senior Vice President of Operations for Apex, stated, "We are way ahead of forecast and expecting the trend to continue into 2005 based on current bookings and forward flow commitments." Kolz added, "Our investment in quality people, systems and processes is paying off faster than we ever expected." Company president, Jay Stone, said of the milestone, "Our success is attributed to the hard work and commitment of all our employees, and especially our management team. People like Dennis Kehrer (Director of Operations, Consumer Division), Sean Doonan (Director of Operations, Commercial and Early Out Divisions), Veronica Rodriguez Verónica RodrÃguez is a Mexican-American Hip-Hop model selected by Kanye West to appear in his “Gold Digger” video. She’s a deadly combination; the 22-year-old’s long blonde hair and he baby doll face make her adorable, her 34D-24-39 measurements make her (Director of Training/Human Resources) and Haseeb Kahn (Director of IT) deserve special recognition." Apex Financial Management services consumer and commercial portfolios placed with it for collection on a contingent fee Payment to an attorney for legal services that depends, or is contingent, upon there being some recovery or award in the case. The payment is then a percentage of the amount recovered—such as 25 percent if the matter is settled, or 30 percent if it proceeds to trial. basis by financial institutions and other third parties. Apex is a wholly-owned subsidiary of Northbrook, Illinois-based Hilco Receivables Receivables An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed , LLC, a leader in accounts receivable portfolio acquisitions, receivables appraisals and collection services. The company is a unit of The Hilco Organization, an international leader in business asset valuation, acquisition, disposition and financing. For more information on Hilco Receivables, please visit www.hilcoreceivables.com. For information on The Hilco Organization, please visit www.hilcotrading.com. |
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