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Managing the Repossession Process

A vehicle is repossessed when it is determined that due payments cannot be recovered from a customer. A collection agent first determines if repossession should happen. Before repossession is initiated, multiple steps of promise to pay (PTP) and Cure Letter generation must have been executed. A senior collection agent or collection manager must approve the repossession process. An external agency executes the repossession of vehicles.

NOTE:  You cannot add new repossession agencies in the Repossession Agencies view. The only way to add new agencies is from the Partner List view.

To add repossession partners

1. Navigate to the Partners, then the Partner List view.
2. In the My Partners list, click new and complete the necessary fields.
3. To verify that the partner was added, navigate to Repossession, then the Repossession Agencies view, and in the My Agencies list, query for the Repossession partner created in Step 2.

To add an agency employee

1. Navigate to the Repossessions, then the Repossessions Agencies view.
2. In the My Agencies list, select or query for the agency for which you need to add an employee to.
3. Drill down on the Agency Name field link, and then click the Agency Employees view tab.
4. Click new and complete the necessary fields.

To add repossession SRs

1. Navigate to the Financial Accounts, then the Financial Account List view.
2. Drill down on the Account # field link, and then click the Collections view tab.
3. Click the Repossessions SR link.
4. In the Repossessions SR list, click new and complete the necessary fields.

   Some fields are described in the following table.

   Field	Example
   Send to For Approval	Login Person's Manager
   Repossession Agency	The name of the agency
   Area	Rep Vehicle
   Sub Area	Rep Vehicle
   Asset # / VIN	This is a vehicle identification number (VIN) that is populated from the financial account record.

5. To view the Repossessed Vehicle, drill down on the SR # field link.

To create another activity to continue repossession for the SR

1. Navigate to the Service Request, then the Service Requests List view.
2. Drill down on the SR # field link, and then click the Repossess Vehicle view tab.
3. In the Activities list, query for Sub-Type: Rep Denied and Type: Request for Repossession.
4. Click New, and complete the necessary fields.

   Some fields are described in the following table.

   Field	Example
   Type	RepApproval Request
   Description	Continuing repossession after reviewing account again... please approve this time!
   Priority	1-High
   Owner	Collection Manager

To record details about the repossession service request

1. Navigate to the Service Request, then the Service Requests List view.
2. In the My Service Request list, query for the SR #, account, summary that you want to approve.

   For example, in the Summary field query for *Rep* to find accounts that have been repossessed.

3. Drill down on the SR # field link, and then click the Repossess Vehicle view tab.
4. In the Activities list, in the Type field query for type of detail you want to record.
5. To approve, in the Sub-Type field, select Repossession Approved.
6. To deny the Approval Request, change Sub-Type field to Denied.
7. To send a package, the Sub-Type field, select Package Sent.

To complete repossession process

1. Navigate to the Activities, then the Activities List view.
2. In the Type field, query for Follow-Up.
3. In the Status drop-down list, select Done.
4. Navigate to Financial Accounts, then the Financial Account List view.
5. Drill down on the Account # field link for the account you wish to view.
6. Click Collections, then the Repossession SRs.
7. In the Repossessions SRs list, click New and complete the necessary fields.

   Some fields are described in the following table.

   Field	Example
   Repossession Fee	$2902
   Repossessed Date	Current date