Contract Recoveries

Contract Recoveries

Streamline the aftermarket contract cancellation process.
A simplified, compliant approach for lenders to process contract cancellations and ensure accurate recoveries that benefit the consumer.

Process Efficiently

One interface consolidates numerous provider recovery processes to efficiently and accurately deliver .

Increase Compliance

Minimize your risk of state compliance fines while expediting refunds to meet recovery deadlines.

Enhance Reputation

Provide consumers the timely and accurate refunds they deserve and protect your dealer relationships.

GET TO KNOW THE SOLUTION

CONTRACT RECOVERIES

Simplified and compliant approach to enable lenders to process contract cancellations and ensure accurate recoveries that benefit the consumer.
A single platform that connects lenders with providers and dealers to accurately process product cancellation refunds in full compliance.

2.2M

Projected vehicles repossessed in 2021.

*Titleloanser.com, Car Repossession Statistics, 2021

$4B

Cancellation refunds may amount to.

*Using Dealertrack and F&I Express 2019 transaction data, cancellation refunds may theoretically amount to, or even exceed, a $4B/yr industry

500+

Active aftermarket product providers.

*Internal F&I Express Data

41

states require that a refund be provided in the event of cancellation of a Vehicle Service Contract (VSC) OR GAP waiver contract.

*Based on state laws. States that require refund for Vehicle Service Contracts: AL, AK, AZ, AR, CA, FL, HI, ID, IL, IN, LA, ME, MD, MN, MS, MO, NV, NJ, NM, NY, OK, SC, TX, VT, WA, WI, WY. States that require refund for GAP : AL, AR, CO, FL, GA, IN, IA, LA, ME, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NC, ND, OR, RI, SC, TN, TX, UT, VT, VI, WA, WV, WI, WY.

Aftermarket State Regulations

Discover which states make creditors responsible for refunding customers for GAP, Vehicle Service Contract and Credit Life in the event of cancellations.

CONSIDER DIGITAL CONTRACTING

Streamline review and funding in ways that best support your business operations and dealer service.

ADDITIONAL RESOURCES