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Maintain Repossession Information
Use the Repossession tab in the Automotive panel to maintain vehicle repossession information.
To maintain repossession information
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With an account displayed in the Work Form, do one of the following:
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From the Info menu, click Automotive Panel.
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At the top of the Panels section, click the name of the currently displayed panel (for example, Phones, Notes) and then click Automotive.
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In the Automotive panel, click the Repossession tab.
Status: Status of the vehicle repossession.
Repossession
Repo Address: Address where the vehicle is located.
Policy Entity: Insurance agency where the repossession company has an insurance policy.
Date Repo Completed: Date the vehicle was repossessed.
Balance at Repo: Balance due on the loan or lease when the vehicle was repossessed.
Repo Expenses: Cost of repossessing the vehicle.
Collateral Status
Collateral Condition: Condition of the vehicle when it was repossessed.
Collateral Lease End/Repo: Indicates if the lease ended or the vehicle was repossessed.
Collateral Repo Code: Vehicle factory key code that allows the repossession company to drive the vehicle away rather than tow it.
Collateral Drivable: If selected, the vehicle was drivable when it was repossessed.
Agency Information
Agency Name: Name of the repossession agency.
Agency Phone: Phone number of the repossession agency.
Date Assigned: Date the lender assigned the vehicle to the agency for repossession.
Storage
Date Into Storage: Date the agency placed the repossessed vehicle into storage.
Storage Location: Storage place for the repossessed vehicle.
Storage Comments: More information regarding storage of the repossessed vehicle.
Redemption
Redemption Date: Last date the debtor has to redeem the vehicle.
Redemption Amount: Dollar amount the debtor must remit to redeem the vehicle. This amount could include past due amounts, total remainder of the debt, and any fees incurred from the repossession.
Date Collateral Released: Date the agency released the vehicle.
Collateral Redeemed by: Person who redeemed the vehicle.
Collateral Released: Status of the release.
Repo Fees: Repossession fees incurred.
Property Storage Fees: Fees for storing the property.
Key Cut Fee: Fee for having a key made.
Misc Fees: Miscellaneous fees related to the repossession.
Impound Fee: Impound fee incurred.
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Complete the information and then click Save.