Maintain Repossession Information

Use the Repossession tab in the Collateral panel to maintain repossession information for a vehicle. If your organization uses RDN, Latitude populates the data on this tab from the RDN APIs based on the repossession activity of the repossession agent or agency.

To maintain repossession information

1. In the Reference Panel navigation bar, click Available Panels and then click Collateral.

2. Click the tab for the collateral to modify and then click the Repossession tab.

Repossession

Status: Status of the vehicle repossession.

Repo Address: Location of the vehicle.

Policy Entity: Insurance agency where the repossession company has an insurance policy.

Repossession Date: Date the agent repossessed the vehicle.

Repossession Expenses: Total cost to repossess the vehicle.

Repo Action: Action that prompted the repossession.

Order Type: Repossession order type.

Collateral Status

Condition: Condition of the vehicle when the agent repossessed it.

Lease End Repo: Indicates whether the lease ended or the agent repossessed the vehicle.

Repossession Code: Vehicle factory key code that allows the repossession agent to drive the vehicle away rather than tow it.

Collateral Drivable: If selected, the vehicle was drivable when the agent repossessed it.

Agent Information

Agent Name: Name of the repossession agent.

Agent Phone: Repossession agent's phone number.

Assigned: Date your organization assigned the agent to repossess the vehicle.

Redemption

Redemption Date: Last date the customer has to redeem the vehicle.

Redemption Amount: Amount the customer must remit to redeem the vehicle. This amount can include past due amounts, total remainder of the debt, and any fees incurred from the repossession.

Date Released: Date your organization released the vehicle to the customer.

Redeemed by: Person who redeemed the vehicle.

Released: Method of release.

Redemption Expire Date: Date the redemption expires.

Redemption Fees

Storage Fees: Fees to store the vehicle.

Key Cut Fee: Fees to have a key cut.

Misc Fees: Miscellaneous fees related to the repossession.

Impound Fees: Fees to impound the vehicle.

Repossession Fees: Fees to repossess the vehicle

Fuel Sub Fees: Fees to fuel the vehicle.

Sale Fees: Fees to sell the vehicle.

Repair Fees: Fees to repair the vehicle.

Title Fees: Fees to title the vehicle.

Cost of Repo: Repossession costs

Storage

Date Into Storage: Date the agent placed the vehicle into storage.

Storage Location: Address where the repossessed vehicle is in storage.

Storage Comments: Comments regarding storage of the repossessed vehicle.

Transport

Transport Order Date: Date your organization requested transport of the vehicle.

Transport Arrival Date: Date the vehicle arrived at its destination.

Transport Date: Date the agent transported the vehicle.

Transport Released To: Person to whom the agent released the vehicle upon transport.

Transport Notes: Comments regarding transport of the vehicle.

3. Complete the information and then click Save.

Related Topics

Collateral