Minimizing the accounts receivable has become extremely important for the Car Rental industry. Online ride-sharing services are already presenting enormous growth challenges for the industry, therefore losing money to unpaid bills, further impacts the cash flow.
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Car rental companies like Enterprise Rent-A-Car, Hertz and Avis have been fiercely competing with Uber, Lyft and Turo, which are genuine businesses but probably have an unfair business advantage due to low operating costs and taxes.
Leaving money uncollected from past due accounts is like leaving money on the table. An effective accounts receivable strategy is important to survive, and Debt Collection Agencies play a critical role in recovering outstanding debt for car rental companies.
Statistics indicate that accounts that are over 60-90 days past-due should be promptly transferred to a collection agency for a better recovery. Collection Agencies, with their vast pool of resources and partnerships, can recover money most effectively.
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| Collection Calls Service |
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Equipped with advanced Skip Tracing services and a collection staff which recovers money all year long, they utilize services like Collection letters, Collection calls and Legal suits. They follow a multi-step approach to recover money from people who have defaulted on their payments.
Collection agencies collect money in an empathetic and diplomatic manner by following the federal and state collection laws.