Auto Loan Debt Recovery

Join hundreds of Automotive Dealerships using Atlas Financial Services as their Collection Agency! We help big dealerships, and used car dealers collect on past-due accounts. We hear all the crazy stories about how far people are willing to go to get a car. We often hear a familiar story about someone signing up for an auto loan, driving the car off the lot, taking it across the country, and trying to disappear. Another is when a person signs up for an auto loan, drives the car off the parking lot later that night, and drives it into a telephone pull. We also know that when dealerships place accounts in collections, the customer almost always returns to your office requesting a payment plan with you instead of us. We have seen it all and have been in the industry long enough to know how to handle each account. Please continue reading more about our collection agency and auto loan debt recovery service!

When should I hire a collection agency to collect on past-due auto loans?

Before hiring a collection agency, you should look for “red flags” that signal you probably won’t get your money back if you don’t do something about it. The big red flag is that after someone has missed a payment, they reach out and let you know what hardships they are going through and will need to pay a double payment the following month. Once that month comes, they pay the monthly amount but not the double payment they said they would and would pay that the following month. This is a huge indicator that you are dealing with a problem account. We would recommend that you add a disclaimer indicating that a collection agency would be sought out if they fail to make the double payment they promised. Always set a time limit for customers indicating that if you don’t receive a payment agreed on within a 30-day or 90-day timeframe, their account is subject to be sent to a collection agency.

For four years, you can only file a lawsuit on a car loan in the State of Washington.

For six years, collection agencies can pursue a car loan debt in collections.

For six years, you can only file a lawsuit on a car loan in the State of Oregon.

For six years, collection agencies can pursue a car loan debt in collections.

It could affect the debtor’s credit score if it met the credit reporting guidelines and reported.

We save our client’s time; we build urgency by prioritizing the debt and skip-trace to find out demographics to collect effectively.

What information and documents do I need to start debt collection services?

  • Debtor Current Address
  • Signed Purchase Agreement
A debtor’s address is 100% required to pursue the debt in collections. We need all legitimate documentation to provide debtors if they request them within 72 hours. All documentation with debtor demographics helps speed up the collection process. If you have any questions, please call Brandon at (564) 208-4838.

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