FAMS Awarded Illinois Child Support Collections Contract

ATLANTA, GA – Financial Asset Management Systems, Inc. (FAMS), one of the fastest growing, privately held companies in the Receivables Management industry, announced today that they have been selected by the Illinois Department of Public Aid to assist the State in the collection of past due child support payments.

For almost a decade, Financial Asset Management Systems has been assisting government agencies, on both the State and Federal levels, in the collection of past due accounts. ?Winning this contract with the State of Illinois has been a long and highly competitive endeavor?, said R.T. Cardwell, Chief Operating Officer of FAMS ?we are very excited that the Illinois Department of Public Aid has selected us as one of their collection partners, and we are looking forward to working with the State on this project?.

Illinois Department of Public Aid, Division of Child Support Enforcement (DCSE) is responsible for enforcing the support payment and obligations of non-custodial parents and helping to ensure that the children of Illinois receive all the help and support they need from their parents by helping parents and guardians locate a non-custodial parent, establish paternity, get support payments and health insurance for their child(ren), and reviews and modifies support payments.

?We are pleased to have this opportunity to develop what I am sure will be a long term business relationship with the State of Illinois? said Mr. Cardwell, who brings over 30 years experience as a receivables management executive. ?FAMS operates on providing the best possible solutions for our Clients and partners. I think that the Department of Public Aid?s requirements for this award validates FAMS? strengths and capabilities. We look forward to helping support the children and families of Illinois.?

FAMS anticipates that this project will be worked from its St. Louis, Missouri office. Mr. Jack Morris, Director of Marketing and Client Services, and Ms. Christina Nance, Marketing Coordinator, were instrumental in the State?s selection of FAMS from a pool of eighteen bidders.