Thorough Assessment of Collateral for Lenders
As a routine part of our process, Asset Recovery Services prepares detailed condition reports for our lenders’ and corporate clients' convenience. Once we have secured the asset and removed it, we take it to our facility for inspection. After we inspect each piece of collateral, we prepare a report detailing the item’s current condition and the ability for it to be repaired if necessary. Our reports are extremely thorough and help to provide a true understanding of the owner's overall position relative to that of the debtor. Our team’s presence onsite also helps to drive home the reality and importance of the situation.
Following our condition reports, we go one step further—we will clean and prepare the items for resale. If we repossess a jet ski with a scratch, we’ll buff it. If we recover a trailer with a flat tire, we’ll get the tire patched and filled. If we remove a hood system from a restaurant, we’ll power wash it. We take the time to do the job right.
Learn more about how our professional condition reports, along with our other services, can assist your institution to recover a larger percentage of your potential loss.