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Debt Collection for Car Rental Industry

rental car

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.

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.

Collection Letters Service
  • Upfront cost for 5 Collection Letters is about $15 per account. 
  • Debtors pay directly to you, no other fees. Low cost option. 
  • Good for accounts less than 120 days past due.
Collection Calls Service
  • Contingency fee only. No upfront or other fees. 
  • Agency gets paid a portion of the money they recover.  No recovery-No fees.
  • Best for accounts over 120 days. A debt collector calls debtor many times.
  • If everything fails, a possible Legal Suit if recommended by the attorney. 

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.

Filed Under: Debt Recovery

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    Note: Nexa is an information portal that helps businesses and medical practices to find a good collection agency at no cost to them. We are not a collection agency. We do not perform any collection activity, nor take payments, nor do any credit reporting. Leads shared with shortlisted agencies with Low Contingency Fee and High Recovery rates.

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    Copyright: Nexa Collections | 2019
    All information on this website is for general information only and is not an experts advice. We do not own any responsibility for correctness or authenticity of the information, or any loss or injury resulting from it. Nexa is not a collection agency. Relevant inquiries are contacted by our shortlisted collection agency partner.