Institutional Support – Services
We at CDM understand the tasks involved in the management of insolvency accounts and administering recoveries – be it through internal collections, collection agencies, credit counseling, credit proposals or bankruptcies. CDM developed our Institutional Support Services specifically to consolidate all that process for our clients.
Meeting the demands of your organization and maximizing returns are our primary objective. We offer a viable solution to all institutions for all their Insolvency Account Management needs. CDM's in-house team of experts will take care of the management of all our clients' recovery agencies – including, but not limited to: Trustees, Credit Counseling and Third Party agency handling, agency performance tracking, payment collections, payment evaluations tracking, approval on offers of settlement or compromise agreements according to agreed upon criteria, proposals, acceptances, delinquent proposal handling, proof of claims handling, repossessions, litigations, etc.
CDM has developed an in-house, highly-secured IT application geared towards proposal administration – TRANTZ. Our application sends and receives proposals, accepts or rejects them based on your company's policy and criteria, tracks clients' payments, generates payment and delinquent reports, and many more features that were developed over time dedicated towards collection and handling of both secured and unsecured Insolvency Portfolios.
All of these activities can take away from your core business. Use CDM so you can focus your valuable resources on what matters most – your bottom line.
CDM offers several account placement methods including secure FTP transfer, mail, email, or fax. We can also provide you with traditional placement forms and word processing templates.
Institutions are able to access their accounts via our secure server to view individual Insolvency practitioner performance, payment history and recovery personnel notes, as well as all of their collection activities. We are able to process transaction for multiple account types and varying interest rates using our debt recovery system.
Reports are sent monthly, or on demand basis, either electronically via FTP or on paper. Below are the standard reports available to you:
- New Account Acknowledgment
- Statement of Collections/ Payment Summary
- Active account statement/Account Summary
- Trust statement
- Closed Accounts
- Reactivated Accounts
- New Customer Contact Information
- Active Debtor Status – per Agency
- Production Analysis – per Agency
- Claim forms
- Notices
Customized reports are also available depending on your specific needs.
Accurate Remittances
Remittances can be submitted either electronically or by cheque. We can also send remittance data directly to each of your recovery agencies.