Debt Collection for the Transportation Industry

Altus Receivables Management provides commercial collections and accounts receivable (AR) services for businesses in the transportation industry. Our expert collections professionals and innovative technology will ensure you receive the money businesses owe you for your transportation services while maintaining the positive relationships you hold with your clients.

Collections Specifications and Standards for the Transportation Industry

A dependable collections company like Altus Receivables Management will ensure your transportation organization follows all regulations that apply to collections and related processes.

Debt Communication

Debt collectors must adhere to specific communication principles when seeking payment. A debtor must receive a letter of demand that clarifies your delinquency claim and allows them to accept the debt, deny the debt, or request an alternate payment solution. Demand letters must include the following:

• Business names of the creditor and debtor
• The debtor’s basic contact information
• Debt details like account statements that indicate missed payments
• A timeline for the debtor to repay
• Notice that failure to pay will result in litigation

Service Organization Controls (SOC) Reports

SOC reports verify that a third party has audited your financial reporting and Trust Service Principles (TSPs). There are two common SOC report categories:

• SOC 1: Necessary when outsourcing services that relate to financial reporting.
• SOC 2: Covers non-financial TSPs like data security and confidentiality.

Licenses and Memberships

If your business chooses to partner with a transportation collection agency, that agency must have:

• Licenses or bonds in the states which require them.
• Membership with Commercial Collection Agencies of America (CCAA).

Commercial Collections and AR Management Are Essential

As a transportation company, receiving fair compensation from the businesses utilizing your services is critical to your operation. Altus Receivables Management is a collection agency capable of securing the revenue you deserve. When you partner with us, we’ll manage your collections processes to ensure you receive adequate compensation promptly. Additionally, we’ll preserve your relationship with your clients by delicately handling delinquencies without filing lawsuits.

Benefits for the Transportation Industry

Here’s how your transportation company can benefit from our AR management and debt collection services:

• Secure consistent revenue: We’ll act to prevent delinquencies and resolve them quickly when they occur.
• Maintain debtor relationships: We’ll handle every delinquency gently to ensure your debtor remains a paying customer.
• Optimize your transportation services: We’ll handle collection processes so you can focus on improving your transportation services.
• Reduce overhead costs: We’ll augment your team without expenses like salaries and building leases.

How Altus Receivables Management Serves the Transportation Industry

As the nation’s largest commercial debt collection agency, Altus Receivables Management is the ideal partner for transportation businesses. We are CCAA members with SOC 1 Type II and SOC 2 Type II certifications. We’ll handle your AR and collection needs by:

• Communicating with debtors within the CCAA’s Code of Ethics.
• Tracking payments and analyzing debtor data using our accessible ARM STRONG™ software.
• Resolving delinquencies fast while preserving the relationship between you and your debtor.