Help is Here to Find, Track and Locate Evasive Debtors
May 10, 2012
May 10, 2012
Credit unions have long needed a partner that they can trust to end their frustrations. Loss of collateral due to failure in locating and repossessing vehicles means a loss of money. As a result, Repo Remarketing, a national leading repossession and remarketing service expressly for Credit Unions, announced the founding of a sister company, Find-Track-Locate (FTL). Founded in April 2012, Find-Track-Locate is a nationwide skip tracing partner to depend on.
Repo Remarketing initially identified that its credit union partners had an urgent need, and with their strong position in the repossession and remarketing industry, it was a natural fit. Find-Track-Locate was founded to bridge the gap of a “dead” account and successfully complete the challenging process of finding debtors who do not want to be found.
When a borrower defaults on a loan, the process of repossessing the vehicle begins. Sometimes the account or individual is identified as a “skip.” This has become a larger issue in recent years, as many debtors are no longer naïve to the reality of repossessions. They understand the process and hide the vehicle in question. When this happens, Repo Remarketing recommends that a skip tracer be assigned. The skip tracer is tasked with securing the vehicle or getting the debtor to bring the loan current.
Repo Remarketing stepped up to simplify this process for its partners by establishing Find-Track-Locate and will work hand in hand with Repo Remarketing to successfully locate, repossess and remarket vehicles. Repo Remarketing has come full circle.
Find-Track-Locate is off to a booming start, with several of Repo Remarketing’s partners jumping on board immediately, with many choosing to automatically escalate to FTL at strategic points. These partners are seeing results of skip tracing and couldn’t be more pleased.
Repo Remarketing is proud to have access to myriad technologies, as well as a nationwide presence, which has allowed FTL to begin its journey to the top.
In a recent survey, Repo Remarketing partners expressed a 95 percent satisfaction rate. As the newest addition to the Repo Remarketing family, FTL will continue to provide value and cost effective solutions to the credit union community in the footsteps of its parent company.
For more information about FTL and its services, please contact Claudia Plascencia, senior vice president of Repo Remarketing, at 916.725.2708, ext. 105.
About Repo Remarketing
Repo Remarketing was founded in 1998. With Repo Remarketing, the power of aggregation brings Credit Unions together under one umbrella, nationwide. Services include: recovery, remarketing to include transportation, inspection, valuation, and all post-sale reporting. Repo Remarketing provides a trustworthy bridge to recover and liquidate inventory efficiently using proven industry standard principals with advanced technology, adapted expressly for Credit Unions. To learn more, please visit www.reporemarketing.com or call 916.725.2708.
Strategic Link is the NWCUA’s wholly-owned service corporation, providing the Association’s member credit unions with exclusive high-quality, competitively-priced products and discounted services. Questions? Contact Sales & Marketing Associate Craig Reed: 206.340.4789, email@example.com.
Posted in Compliance News.