What Lenders Must Know About Rising Auto Loan Delinquencies
Auto loan delinquencies in the United States are on the rise, reaching levels not seen in over a decade. Recent data from the Federal Reserve Bank of New York indicates that 7.7% of car loans transitioned into delinquency in the fourth quarter of 2023, marking the...
What is Accounts Receivables: Impact on Your Business
Accounts receivables (AR) are essential for a business’s financial health. They refer to the money customers owe for products or services that have been provided but not yet paid for. In many business organizations, delivering goods or services without collecting...
Why Are Auto Loan Recovery Options Beneficial for Lenders?
A recent Forbes Advisor article reports that late auto payments have reached their highest level since the 1990s, with borrower defaults on auto loans at a 27-year peak. In this competitive automotive landscape, managing delinquent auto loans is a critical challenge...
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