Auto deficiency collections can be complicated, often involving co-signers and a rapidly depreciating, high-risk asset that is often no longer worth the outstanding loan value. Because debtors can be hard to find and chronically short of cash, effective auto loan deficiency collections are a job best left to the industry’s top experts.
Many consumers are surprised at how easy it can be to obtain a car loan, and often a borrower can barely afford the payments given a best-case financial scenario. A sudden layoff from work or even a few money management errors can quickly put the new car or truck owner into arrears or default on the financed vehicle.
At MetCredit, our depth of consumer debt collection expertise encompasses the full realm of auto deficiency collections, enabling our highly trained Canada-wide debt collection team to act quickly on the lender’s behalf, whether on individual deficiencies or large-scale portfolios. And because MetCredit is licensed and bonded as a commercial and consumer debt collection agency in all Canadian provinces and territories, we’re empowered to collect auto loan debt anywhere in the country.
Consumer debt collection is a delicate art, and at MetCredit Respect is foremost in everything we do. This longstanding core value of ours is particularly important to auto lenders, because a customer who cannot pay today will almost certainly be a vehicle customer again when circumstances improve. Public Relations and brand reputation management are critical components to our debt and deficiency collection philosophy.
For Wholesale and Retail Automotive Financial Services Providers, Banks, Credit Unions and Other Auto Loan Deficiency Collections, Count On MetCredit to Collect Quickly and Professionally On Your Behalf.
“We’re impressed at how quickly MetCredit achieves results at auto deficiency recovery for us, even with cases of the highest difficulty. Of equal importance, our customer relationships are honoured, meaning customers feel they’re being guided through a process rather than harassed. That’s the kind of big-picture thinking we need, especially in this age of social media and instant online reviews.”