Factoring companies and collection agencies are VERY different.  Collection agencies attempt to recover old and bad debt and pay you back based on their success in doing so.
Factors purchase invoices that are central to the ongoing operations of their clients’ business.  Factors need to purchase good invoices, or they will no longer be in business.  Factoring accelerates a company’s cash flow by providing clients with immediate funding on generated or earned invoices instead of waiting for customers to pay invoices due.  Invoices are basically assets purchased by a factoring company to provide an affordable and efficient cash flow solution where you have the use of funds prior to your customers’ payments.
Many factors, including CFR, partner with their clients to collect outstanding invoices.  To be successful, factoring companies need the relationship between a business and customer to remain healthy and positive so they can continue to do more business together. A good factoring company should always provide excellent customer service, remain professional, and helpful to everyone.