Third Party Collections

If your in-house efforts do not result in collecting your past due accounts, you may need to consider a Third Party Collections Service.

Our Approach 

Altus uses the “INC” approach to commercial debt recovery:

12836579_sInvestigation
Altus employs sophisticated investigative resources to gather and analyze information to achieve optimal results.

Negotiation
The financial information and other pertinent facts that we gather enable our collectors to negotiate from a position of strength.

Collection
Our approach combines state-of-the-art technology and resources with expertise, experience and finesse.

Client Services Division (CSD)

Altus dedicates an entire department to providing exceptional service to our clients. Our account representatives are the primary contacts with all our customers, and for simplicity, there is typically one Altus contact per client/company. Our sales team is available at any time during normal business hours to work through the problems or concerns a client may be experiencing. Our team can also work with clients to customize options for status reporting on accounts.

Account Placement

Collection efforts begin the morning after the account has been entered into our system. First, a financial investigation of the debtor company is initiated to help negotiate from a position of strength and knowledge.

All accounts are contacted within 24 hours of placement. Our procedures involve a number of reports that enable management to maximize debt compliance. As a standard operating procedure, we limit the number of accounts assigned to a collector to ensure proper coverage.

Altus collectors act as arbitrators in resolving any and all disputes by retrieving information from the debtor and client.

Information Needed to Collect

Altus collectors do everything possible to collect the full past due amount. The potential of collecting the maximum amount drastically increases if you are able to provide the following documents:

  • Detailed invoices
  • Proof of delivery
  • Statement of account
  • The debtor’s original applications for credit (if available)

This will allow our collectors to quickly understand the entire situation and immediately work to collect or resolve the matter. The financial information and other pertinent facts enable our collectors to work from a better negotiating position.

Financial Private Investigators

Altus collectors are able to quickly identify when a debtor company has become unresponsive to collection attempts.  Companies who are experiencing extreme financial distress are especially prone to exhibiting this type of behavior. In these cases, we will send a private financial investigator to meet face to face with the responsible parties of your company’s debtors when merited.  During this portion of the investigation, the financial private investigators will check with the debtor’s bank, vendors, clients, business partners, and investors to implement industry pressure.  This course of action is extremely successful.  It will prioritize the claim, and effectively convey the very clear message to the debtor company that our resolve to conclude the matter is resolute.

International Collections

Altus international capabilities overcome the language and time zone barriers to international collections through our staff of in-house, language specific international collectors.  Many of our clients have found the diverse legal systems and international laws tax their collection staff.  Altus offers a seamless solution capable of handling both domestic and international accounts simultaneously.

For more efficient collection, Altus has the global advantage of forwarding accounts to any subsidiary.  With offices in 66 countries, Altus provides an integrated international collection network.

Status Reporting

Altus provides clients with monthly status reports in addition to verbal updates, and can easily customize reports to fit your company’s requirements in a manner more convenient to your existing in-house reporting procedures.

Reports Include:

  • Monthly and year-to-date (YTD) placements
  • Total recovery percentages
  • Agency commissions
  • Specific categorization (bankrupt, out of business, settled/litigation accounts)

Altus also has the capability to allow clients to access software via the internet or dial in via telephone. Clients can view the entire inventory placed with ALTUS, as well as up-to-date balances.

Remittance Process

Altus accepts payments via wire, credit card, Automated Clearing House and check.  Remittance statements and invoices to clients are processed semi-monthly. Payments posted 1st through the 15th of the month are remitted to clients on the 5th of each month. Payments posted on the 16th through the end of the month are remitted to clients on the 20th of the month.  To maintain confidentiality of payment transfers, ALTUS utilizes its own proprietary software, which is not accessible outside the network.

Collection Fees

Altus works on a contingency basis and its fee structure is based on the age of account, volume of accounts, and other considerations. Our fee structure allows our clients to pay for results, never simply our efforts.