Abstract: A computer-based system for requesting, assigning, monitoring, updating, and reporting on the status of the collateral recovery process for all of the participants includes a communications methodology for maintaining a series of remote databases and synchronizing the remote databases with a master database via a synchronization server. Additionally, a lien holder can access the computer-based system via a global computer network such as the Internet and request collateral repossession services and then track the request during the process. This includes the ability to monitor the date of recovery, the condition of the collateral upon recovery, and the ultimate disposition of the collateral after recovery. Similarly, the repossession agent can more quickly and efficiently receive recovery requests and provide updates to the lien holder without undue delay.

Abstract: The apparatus and methods of the present invention provide for the monitoring and tracking of various items such as vehicles that may be used as collateral to secure a loan or lease. The present invention thereby provides for the efficient and effective recovery of collateral by a lien holder in the case of default on the loan or lease. The most preferred embodiments of the present invention include a computer-based system for monitoring the location and status of collateral while the collateral is in the purchaser's possession. The historical information related to the location and/or condition of the collateral is periodically stored in a database that is accessible via a global computer network such as the Internet. If and when it becomes necessary to repossess the collateral, the information stored in the database can be accessed to provide various types of information that may aid in the recovery of the collateral.

Abstract: Automotive vehicles and trailer mounted boats are repossessed with a system including a central station with a computer arrangement which prepares a first message including order information from lien holders. The first message is sent by e-mail to tow trucks via a communication link including the Internet and a wireless link. The tow trucks include a computer for receiving the first messages. The tow truck drivers prepare second e-mail messages which are sent back to the computer arrangement via a wireless link and the Internet. The lien holders can access the computer arrangement to determine order status.