Automotive Finance Collection Solutions

over 100 years of experience

Comprehensive Automotive Industry Finance Collections Solutions

As an automobile lender, you face instances where the customer has failed to pay their loan according to its terms. In some cases, the vehicle needs to be repossessed and auctioned off for sale. Even after applying the sale proceeds, the customer may still owe a significant amount on the deficiency balance.

It takes a unique skill set to be successful in recovering deficiency balances on automobiles. The experienced and knowledgeable team at Southwest Recovery Services offers collection services for the auto finance industry to handle potentially tense and challenging situations with poise and professionalism.

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What Is a Car Debt Recovery Agency?

At Southwest Recovery Services, we support auto lenders in their collections processes. As a trusted third-party debt recovery agency, we offer customized automotive financial solutions. We manage collections for a range of services within the auto industry, including auto customization collections.

If you’ve attempted to locate, contact and discuss the deficiency balance with a customer without success, it’s time to let Southwest Recovery Services take over. Our team has over 100 years of combined auto finance and deficiency collection experience.

Our Diverse Range of Car Debt Collection Services

From repossessions to charged-off car loans, Southwest Recovery offers a comprehensive range of automotive finance collections to help maximize profits on car loans. We assist in debt recovery with effective debt collection services.

Recovering Charged-Off Car Loans

Even if you deem a car loan unlikely to be repaid and “charge off” the loan as a loss in your financial records, that may not be the end of the story. The professional team at Southwest Recovery can help you recoup your losses from these unpaid debts. Even if the loan is never paid in full, we offer several strategies that may yield some financial return.

Repossession Services

It’s not always an easy task to get someone to pay for a vehicle — especially one they no longer have and will not be able to get back. Repossession and storage fees only add to the amount owed, sometimes leading to thousands of dollars of debt. Situations like this must be acted upon quickly. The longer a deficiency balance remains unpaid, the less likely you will ever see repayment.

Repossessions are damaging — to a customer’s credit and their self-image. It takes a special approach to deal with people who are in this situation and successfully recover deficiency balances on automobiles. Our person-centered approach ensures your customers are treated with dignity and respect as we pursue the principal balance and unpaid fees.

Consultation and Automotive Debt Collection Strategies

Beyond providing auto industry debt collection services, we can work as consultants to streamline your collections processes. Our services include assisting you in developing a clear and concise credit policy. Our consultants can also train your staff to ensure consistency and proper communication with auto loan customers.

Our consulting services give you the best practices to follow when collecting debt, including contacting customers promptly for payment. With our expertise, you will gain a better collections process. You’ll also get a partner willing to step in after long periods of nonpayment to work through further automotive collections processes.

Special Approach

Our Process for Automotive Financing Debt Recovery

At Southwest Recovery Services, we can manage every aspect of your car debt collection process to turn problems into profits. Our recovery approach is customized to your unique business goals and may involve many of the following steps:

Courteous and clear communication: We send timely and professional communications with details about the past-due account. For repossessions, this may also include a clear explanation of why they still owe money after the vehicle was repossessed.
Appropriate follow-ups: We provide frequent and appropriate follow-up efforts to improve the potential of repayment.
Payment plans or settlement: We help determine if a customer has the ability to pay and work something out, like a payment plan or settlement.
Free credit reporting service: We can report the account to the consumer credit reporting agencies on your behalf.

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Why Partner With Southwest Recovery in Automotive Finance Collection?

Automotive collections come with unique challenges that our team has the understanding to solve. With Southwest Recovery standing behind you, you can enhance your automotive collections. Here are some of the core benefits we proudly provide our clients.

Expertise in Collecting Deficiency Balances

When it comes time to contact the customer who has surrendered their vehicle, you want a team with the experience and knowledge needed to handle these situations professionally. Southwest Recovery Services employs skilled debt collection agents who can handle high-stress encounters with professionalism and empathy.

Ethical Standards in Automotive Debt Collection Services

Southwest Recovery Services holds the highest standards in ethical debt collection practices. We are well-versed in all federal and state legislation that governs our industry and will help your automotive business remain compliant.

Navigating Economic Fluctuations in Automotive Finance Collections

Automotive collections can come with challenges as the industry changes. Recent trends include rising delinquencies and economic uncertainty, which leads to financial hardship for borrowers. While the auto finance industry is a big business, a changing economy can lead to increasing collections, which may leave you seeking alternative solutions to collect the money you’re owed. Our team has the expertise to manage your collections, no matter the current economic situation.

Addressing Consumer Concerns Proactively in Automotive Finance Collections

Maintaining relations is a big part of consumer collections. Positive consumer relationships lead to higher compliance and more cost-effective results. Our expertise in the collection process means we can address consumer concerns, answer questions and maintain positive relationships with your auto loan customers.

Begin Your Journey With Southwest Recovery Services

Ready to partner with a nationally recognized car debt collection agency? Experience convenient online collection services for the auto finance industry from Southwest Recovery Services. These services allow you to monitor the collections process wherever you are through an online portal. Beyond the convenience of online collections, we offer expertise and compliance with applicable regulations. Contact our team online for more information about our services.