Founded in 1963 by Jim Herst, Performance Source Inc (PSI) is one of the true pioneers of business-debt settlement (or "payables management") services for closely held companies. Having worked in the collections industry early in his career, Jim saw firsthand that business debt can become a problem even for well managed companies. He also recognized that although these firms were willing to pay their debts, they either did not have the time to work out settlements with their creditors, or they were reluctant or unsure of the process. Ã¢â‚¬Å“I saw far too many companies filing bankruptcy or taking on costly business-debt consolidation loans,Ã¢â‚¬Å“ he adds.
Last Updated on: Fri, 4 Sep 2015