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SYSTEMS AND METHODS FOR RECOVERING VEHICULAR COLLATERAL

  • US 20130132268A1
  • Filed: 11/16/2012
  • Published: 05/23/2013
  • Est. Priority Date: 11/18/2011
  • Status: Abandoned Application
First Claim
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1. A method for securing a vehicle as collateral for a loan, the method comprising using at least one hardware processor to:

  • monitor a plurality of accounts for a default condition;

    detect the default condition for at least one of the plurality of accounts, wherein the detected account is associated with a vehicle;

    automatically generate one or more electronic repossession documents;

    transmit the one or more electronic repossession documents to a repossession agent;

    receive first locational data from a recovery device installed in the vehicle; and

    transmit second locational data derived from the first locational data to the repossession agent.

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