Credit Manager
All payments received by ABSC on behalf of clients are promptly deposited into a non-interest-bearing trust account and maintained in accordance with applicable requirements and the terms of the client agreement.
At the client’s direction, and following clearance of deposited checks, remittances are issued every 15 days. When payment is received by wire transfer, remittance to the client may be processed promptly upon confirmation and verification of the transfer.
If a debtor makes payment directly to the client, ABSC will reconcile the account and applicable collection fees. The amount due to ABSC may be offset against other funds being held for the client, where permitted under the applicable agreement, or ABSC will issue a statement reflecting the fee due.
Cash Control & Reporting
ABSC provides clients with continuous access to account activity and collection status through its secure online reporting portal, available 24 hours a day, 7 days a week. Reports provide clients with meaningful visibility into account activity and may include:
Status Reporting
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Account name and customer identification number
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Date of placement
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Original balance and current amount due
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Payments received
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Current account balance
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Collection activity and status
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Relevant notes and developments
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Payment notifications are transmitted by email or fax within 24 hours of receipt, as applicable. Clients are also provided with updates when material developments, changes in circumstances, or other events occur that may affect the recovery strategy.
Monthly reporting is provided to maintain a consistent record of account activity, payments, balances, and collection status.
The effectiveness of any recovery program depends in part upon the availability and accuracy of the information provided at placement. To maximize recovery potential, ABSC requests that clients provide, when available and applicable:
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Complete debtor account statements
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Invoices and supporting billing documentation
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Credit applications and agreements
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Contracts, purchase orders, and related documentation
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Relevant correspondence or records supporting the balance due
Full and timely client cooperation is an important component of successful recovery. Prompt access to account documentation, transaction history, supporting records, and knowledgeable client personnel enables ABSC to evaluate claims accurately, respond to debtor disputes, strengthen the evidentiary foundation of the account, and pursue the most effective recovery strategy.
ABSC Client Requirements & Support
