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. When the vehicle sells, it almost always leaves a significant amount of money due on the loan after applying the sale proceeds.

This deficiency balance is owed by the customer, and it’s not a very easy task to get someone to pay for a vehicle they no longer have or will be able to get back. Repossession and storage fees are also added to the amount owed, so the amount of money the customer owes can be several thousand dollars. It’s imperative that situations like this are acted upon quickly. The longer a deficiency balance remains unpaid, the less likely it will ever pay.

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Southwest Recovery: Your Partner in Automotive Finance Collection

At Southwest Recovery Services, we support auto lenders in their collections processes.

Our Expertise in Collecting Deficiency Balances

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

Our Diverse Range of Automotive Collection Services

At Southwest Recovery Services, we manage your collections processes to turn problems into profits. We are able to:

Clearly explain to the customer why they still owe money after the vehicle was repossessed
Frequent and appropriate follow-up efforts
Determine if a customer has the ability to pay and work something out, like a payment plan or settlement
Report the account to the consumer credit reporting agencies

We manage collections for a range of services within the auto industry, including auto customization collection services.

Special Approach

Upholding Professionalism in Automotive Debt Collection Services

When it comes time for contact with the customer who has surrendered their vehicle, our team has the experience and knowledge needed to handle these situations professionally. It takes a unique skill set to be successful in recovering deficiency balances on automobiles. Repossessions are damaging to a customer’s credit and to their self-image so it takes a special approach to deal with people who are in this situation.

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Enhancing Revenue Cycle Management in Automotive Finance Collections

Automotive collections come with unique challenges that our team has the expertise to solve.

Consultation Services for Optimizing Collections

Beyond providing debt collection services, we can work as a consultant to streamline your collections processes. Our services include assisting you in developing a clear and concise credit policy. Our consultants can 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 collections processes.

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

Enhance automotive collections with our team standing behind you.

Reach out for Premier Automotive Collection Services in Texas and Beyond

We provide convenient online collection services for the auto finance industry. 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.