What makes Preferred CMS a different collection agency? Many agencies, when competing for your business, will overpromise and underdeliver. Preferred has been in business for more than 30 years with some of the same clients since inception. When we partner with you, we are not merely acting as a vendor performing collection services on extended accounts receivables in bad debt or as an extended business office. We provide invaluable feedback to your teams on trends we are seeing like bad data, missing data that is affecting your front end collections. We also convey industry trends, recent legislation, and court cases that can keep you out of litigation. When you have government agencies like the Consumer Financial Protection Bureau (CFPB) trying to create law by imposing over burdensome fines and rulings while also positioning themselves in a power grab to have first-party creditors fall under their purview, it is increasingly important to have an agency that understands, communicates to you and can minimize your exposure.