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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![A cup of coffee, a pen, and a magnifying glass sitting on a blackboard that says "Lessons Learned" written in chalk [Image by creator Tuomas Kujansuu from AdobeStock]](/media/images/AdobeStock-lessons-learned-takeaways-best-prac.max-80x80_dSCdcNz.jpg)
Three Lessons for Debt Collectors from the CFPB’s Latest Supervisory Highlights: Amount Owed Accuracy, Disclosures, And Payment Dates
13 March 2019
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New York Fed Report Shows Decline in Collection Accounts... Or Does It?
20 November 2018
TransUnion Report Reveals Current Consumer Credit Trends, Including 20.3 Million More Accounts
5 March 2018
![[Image by creator Chris Titze Imaging from AdobeStock]](/media/images/AdobeStock-consent.max-80x80_g32YaaY.jpg){kind=small}
Breaking: 2nd Circuit Says TCPA Consent Not Revocable if Part of Contract
23 June 2017
TransUnion Finds Struggling Consumers Pay Off Unsecured Personal Loans First
17 May 2017
New Accounts Receivable Management Provider Combines a History of Strong Revenue Performance with a Meticulous Focus on Compliance and Consumer Relationships
6 April 2016
CFPB Fines Auto Loan Company $3.28 Million For Illegal Debt Collection Tactics
29 October 2015
CFPB Orders Indirect Auto Finance Company to Pay $48.3M in Relief and Penalties for Illegal Debt Collection Tactics
1 October 2015
Congress Grills CFPB Director over New Rules, Bureau Methods
30 September 2015
The 986 Words That Have Guided First Party Outsourcing for 15 Years
29 July 2015
insideARM Announces Inaugural First Party Outsourcing Summit October 13-14, 2015
22 June 2015
CFPB Takes Action Against Auto Finance Company for Debt Collection UDAAP Violation
18 June 2015
CFPB Finalizes Rule to Supervise Nonbank Auto Finance Companies
11 June 2015
Assessing the Consumer Credit Market with an Eye to ARM
25 March 2015
Consumer Debt Delinquencies Continued Broad Decline in Third Quarter
8 January 2015
Big Shifts in Debt by Age: A Very Literal Interpretation of Knowing Your Debtor
17 December 2014
SEC Takes Action Against Hedge Fund Managed by Debt Collector
15 December 2014
Federal Judge Says FCC Fails on Consent Rules Clarity in TCPA Class Action Ruling
9 December 2014
CFPB Takes Actions Against Car Dealer Over Debt Collection and Credit Reporting
20 November 2014
Subprime Auto Collections - A Growth Market for ARM Companies or a Bubble About to Burst?
24 October 2014
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