#RentalIndustry

Hertz customers have issued complaints that the company falsely accused them of stealing rental cars. Numerous renters have made claims that they were stopped by police to be informed that the vehicle they had paid to borrow was reported stolen. Complaints became so prevalent that CBS News launched an investigative report last November to uncover whether individuals were simply lying about their innocence to avoid prosecution or if Hertz was habitually screwing things up.

By December, 191 claims had been filed in federal bankruptcy court on behalf of the people who said they were falsely arrested. But it took another two months for a Delaware bankruptcy court judge to issue a ruling that will require Hertz to make the number of renters it accuses of stealing its cars every year publicly available.

Hertz Global Holdings Inc. has been in discussions with creditors in the hopes of making a deal that addresses its missed debt payments and gives the company further leeway. Rental agencies are struggling, with Hertz in the roughest shape of all. All thanks to a certain virus, business has dried up, and Hertz finds itself sitting on a pile of quickly depreciating cars it cannot afford to replace. The company’s stock also plummeted at the end of February — going from $20.29 per share to today’s $2.86.

The rental agency has until Friday to negotiate an extended forbearance agreement or drop $400 million in lease payments, but news has surfaced that lenders think Hertz declaring bankruptcy may be just as good a solution.