Attention Auto Lenders: Use ROI to drive data investments and reduce charge-offs. In our last blog we talked about John’s loan and the power of new vehicle location data insights in collections. We learned how using LPR data early in the collections cycle provides valuable insights to help prevent charge-off
Change the outcome that will lead to lower charge-off losses and increase ROI on your portfolio. Let me introduce you to John. John lost his job and was no longer able to make payments on his loan. John did not notify you, the lender, therefore resulting in the situation below. Let me
Auto Deficiency Balances Got You Down? It’s no secret, auto deficiency debt is hard to collect – really hard. You first have to get past the fact that many debtors don’t even realize that that they may owe money even after a car has been repossessed and sold. A quick
Starter Interrupters. A Real Non-Starter. The earliest patent I could find for a starter interrupter device was filed on June 30, 1995. They have since grown in popularity to become a necessity for some sub-prime lenders granting loans below a certain credit threshold. Yet, in the 20 years since their
Are you familiar with The Servicemembers’ Civil Relief Act (SCRA) and the risk associated to repossessing a vehicle from a customer who is listed as “Active Duty?” If not, you may want to take a moment and familiarize yourself and how it could negatively affect your bottom line. There are a number of
AutoSoft NET Agreement Puts DRN’s License Plate Recognition (LPR) and Solutions to Work for Auto Dealers DRN’s Data and Analytics Embedded in AutoDealer Plus and AutoDealer Light Improve Collections and Customer Contact FORT WORTH, TX 1/28/2015 – Digital Recognition Network (DRN) (www.drndata.com) and AutoSoft NET, (www.AutoSoftNET.com) announced that AutoSoft NET
Attention Auto Lenders: Use ROI to drive data investments and reduce charge-offs. In our last blog we talked about John’s loan and the power of new vehicle location data insights in collections. We learned how using LPR data early in the collections cycle provides valuable insights to help prevent charge-off
Change the outcome that will lead to lower charge-off losses and increase ROI on your portfolio. Let me introduce you to John. John lost his job and was no longer able to make payments on his loan. John did not notify you, the lender, therefore resulting in the situation below. Let me
Auto Deficiency Balances Got You Down? It’s no secret, auto deficiency debt is hard to collect – really hard. You first have to get past the fact that many debtors don’t even realize that that they may owe money even after a car has been repossessed and sold. A quick
Starter Interrupters. A Real Non-Starter. The earliest patent I could find for a starter interrupter device was filed on June 30, 1995. They have since grown in popularity to become a necessity for some sub-prime lenders granting loans below a certain credit threshold. Yet, in the 20 years since their
Are you familiar with The Servicemembers’ Civil Relief Act (SCRA) and the risk associated to repossessing a vehicle from a customer who is listed as “Active Duty?” If not, you may want to take a moment and familiarize yourself and how it could negatively affect your bottom line. There are a number of
AutoSoft NET Agreement Puts DRN’s License Plate Recognition (LPR) and Solutions to Work for Auto Dealers DRN’s Data and Analytics Embedded in AutoDealer Plus and AutoDealer Light Improve Collections and Customer Contact FORT WORTH, TX 1/28/2015 – Digital Recognition Network (DRN) (www.drndata.com) and AutoSoft NET, (www.AutoSoftNET.com) announced that AutoSoft NET