Financial Asset Management Systems, Inc. Awarded Department of Education Contract

Financial Asset Management Systems (FAMS), a Georgia based Receivables Management firm, announced today that the U.S. Department of Education has awarded FAMS one of its twelve unrestricted debt collections contracts. This contract for the recovery of defaulted student loans is the third consecutive U.S. Department of Education (ED) contract award for FAMS.

FAMS was awarded its first contract for the ED in 1997. Since the inception of that contract, FAMS has consistently performed among the top private collection agencies for ED, and is ranked fourth on the present contract. ?This favorable award, is a confirmation our success in providing recovery solutions for student loan receivables? said R.T. Cardwell, FAMS? Co-Owner. ?Our experience and approach to the collection of these student loan accounts will continue to positively impact recoveries for The Department of Education as we move forward into the new contract.?

FAMS? Government and Education Division will continue its base of operations for this contract from its dedicated education facilities in Atlanta, Georgia and St. Charles, Missouri. Over the term of this contract, FAMS anticipates an annual employment growth of 25%-35% within its Government Division.

About FAMS
Headquartered in Atlanta, Georgia, Financial Asset Management Systems (FAMS) is one of the fastest growing, privately held, companies in the Receivables Management industry. FAMS offers Outsourcing and Third Party Collection Services on National and Regional level for the Education, Government, Banking, Telecom, Wireless, Retail, Healthcare, and Commercial markets. To learn more about how FAMS can decrease your charge-offs, and increase your recoveries, call FAMS? Sales and Marketing Department at 770-734-0554, or send an email to marketing@fams.net .