Illustration of a borrower making a digital payment toward overdue debt on a mobile device, representing how lenders maximize delinquent account recovery through digital channels and engagement tools.

HOW AUTO LENDERS MAXIMIZE DELINQUENT ACCOUNT RECOVERY

The defi TeamBanking, Compliance, Credit Unions, defi INSIGHT, Digital Lending, Electric vehicle lending, Fraud, Managed Servicing, Originations, Servicing Systems, Trends

Delinquent account recovery is a serious financial drain for lenders. Mailing out late statements and hiring staff to call debtors daily is an incredibly expensive process. In some cases, lenders may spend more on account recovery than they’ll get from their borrowers after they pay off the outstanding balance.