Auto loans are the most common secured debt in the U.S. If a debtor defaults on an auto loan, the creditor can typically repossess the asset – the car – securing the loan. But if the asset is in a state of disrepair or otherwise diminished in value, the creditor cannot recoup the total balance owed by selling the car. So a deficiency balance is due from the debtor, with the balance becoming a receivable on the creditor’s books.
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FTC's Recent Enforcement Action Sets New Debt Collection Standards
2 June 2014
FTC in $5.5 million Debt Collection Settlement with Auto Lender/ARM Firm
30 May 2014
Third Party Debt Collection Accounts Jump in First Quarter
14 May 2014
Consumer Delinquencies Fall in Most Debt Categories in Fourth Quarter
9 April 2014
State AG Settles with Auto Title Lender Over Collection Practices
4 April 2014
Growth in Consumer Credit in 2013 After Years of Decline
31 March 2014
Account Control Technology Expands Services, Hires Michael Magarrell as VP of Strategic Accounts
26 March 2014
BillingTree to Deliver Mobile Payment and Customer Communications Solutions to Auto Finance Industry
24 January 2014
Consumer Re-Leveraging Raises Debt Delinquency Concerns
15 January 2014
Why Everyone Keeps Talking About Student Loans
19 December 2013
Court Rules in Favor of Collection Agency's "Good Faith" in TCPA Case
16 December 2013
Asset Classes Attracting the Most Consumer Complaints
5 December 2013
Retail-Issued Credit Cards at Four-Year High; Charge-Offs Fall 14%
25 November 2013
Number of Third Party Debt Collection Accounts Plummets, But Balances Rise
15 November 2013
CFPB Releases Debt Collection Complaints Data, and Here It Is
6 November 2013
The Debt Pipeline: Young Adults Shed Debt During Recession
5 November 2013
Consumer Delinquencies Rise Slightly in Q2 but Remain Near Historical Lows
8 October 2013
Delinquent Debt Increases 17 Percent Over Past Five Years
27 September 2013
Credit Card Balances Increase Year-Over-Year for the First Time in 5 Years
29 August 2013
Credit Card Payment Patterns Can Foretell Future Delinquencies on Other Loans
31 July 2013