Skips to Cash Program Helps Dealers Locate, Recover and Liquidate Bad Debt Skips
Houston, Texas, February 28, 2011– National Alliance of Buy Here, Pay Here Dealers (NABD), a special interest group organized for the betterment of the automotive industry, today announced a new technology program, Skips to Cash, designed to assist NABD operators nationwide in locating, recovering, and liquidating of bad debt skips. The Skips to Cash program is facilitated by All Technology Recovery (ATR) and utilizes alliances with Digital Recognition Network (DRN), Recovery Database Network (RDN), OPENLANE, and Locater USA.
Through professional recovery agents, including members of American Recovery Association (ARA), the Skips to Cash Program will utilize DRN’s state-of-the-art LPR 2.0 technology to help locate collateral and use professional recovery agents to recover the vehicle. After recovery, the dealer has the option to liquidate the recovered vehicle through OPENLANE’s online wholesale auction or transport it back to the dealership. This effort is facilitated through around-the-clock services of ATR.
Through the NABD website, NABD members can assign all skip accounts, and all required information is electronically listed to place a vehicle in the Skips to Cash program. ATR will then check each lost vehicle for lien loss, storage lien sale bankruptcy, active exemptions or impoundment. When all due diligence is completed, ATR will enter the skip vehicle into the DRN through the RDN platform. Upon entry of the tag number, DRN camera operators nationwide will begin scanning for the lost vehicle. When the vehicle is recovered, NABD member operators have the choice of liquidation at the recovery agency’s lot through OPENLANE online wholesale auction or vehicle transportation back to the dealership for subsequent disposition.
“This program allows operators to mitigate their losses on a very cost-effective basis, said Ken Shilson, President of NABD. “The companies involved and the innovative technology being used benefits buy here, pay here operators at a time when they must maximize their cash flow and control losses.”
The Skips to Cash program is currently active and accessible through the NABD website, www.bhphinfo.com, and details of the program will be discussed at the NABD Dealer Academy on May 16–17 in Las Vegas and at the National BHPH Conference on May 18–20. ATR, along with representatives from DRN, RDN, as well as OPENLANE and ARA, will participate in these conferences, answer questions and further explain details to all attendees
About National Alliance of Buy Here, Pay Here Dealers
Founded in 1999, National Alliance of Buy Here, Pay Here Dealers (NABD) focuses on improving the quality of its members through education, ongoing training, and by promoting the interests of self-finance dealers nationwide. For more information about NABD and its upcoming events, visit www.bhphinfo.com or call (713) 290-8171.
About All Technology Recovery
All Technology Recovery facilitates and manages work from the lending community to a national network of collateral recovery professionals. All Technology Recovery deploys real-time technology and partners with industry leaders, such as American Recovery Association (ARA), Digital Recognition Network (DRN), Recovery Database Network (RDN), Recovery Industry Services Company (RISC), Certified Asset Recovery Specialist (CARS) and OPENLANE, to serve collateral recovery professionals and financial institutions. For more information, call (931) 388-6545 or go to www.alltechnologyrecovery.com.