When debtors default on asset-backed loans, financial institutions can be left in the lurch. That’s why so many lenders trust Greenwood Recovery, Inc. in Baltimore to reclaim their collateral and return value to their balance sheets. Don’t waste time with other repossession companies. Contact us today at (410) 383-8000 and discover why our expert repossession services are in demand throughout the Mid-Atlantic and beyond.
Asset Location Learn More
Before our repossession agents can recover an asset, we must find it. And that can be difficult, since most of our clients’ collateral is constantly on the move. We are equipped to locate and haul almost anything with an engine: cars and trucks, motorcycles and ATVs, boats and jet skis, commercial vehicles and heavy equipment, and even RVs. In addition to our field investigations, Greenwood Recovery uses state-of-the-art technology to trace assets throughout eastern Maryland, northern Virginia, Delaware, and Washington, D.C.
Cutting-Edge Car Repossession
We receive detailed requests from clients electronically and assign each one to a certified recovery specialist. Greenwood’s car repossession agents typically begin by visiting the debtor’s last known address, looking for the vehicle — or any clues regarding its whereabouts. We also utilize a high-tech, car-mounted camera system that scans license plates, recording tag numbers and locations 24/7 while we patrol the Baltimore, Md., area. If one matches one of our open orders, the recovery process begins.
Different from other Repossession Companies
No one on Greenwood Recovery’s talented team bears any resemblance to the fly-by-night “repo man” so often depicted by the entertainment industry. Our certified staff is fully vetted, highly trained, and regularly briefed on the latest industry regulations. Our drivers know the law and follow it to the letter; in fact, we are fully compliant with Consumer Financial Protection Bureau standards.
Once we have the collateral in our possession, we transport it to one of our highly secure satellite locations for processing. And we don’t take any chances with our clients’ property: All of our facilities are surrounded with video cameras and electric fencing. After notifying the police and the client of our success, we take photos of the asset and assess its condition.
It’s up to the lender to determine what happens next. Sometimes, borrowers catch up on payments and retrieve their vehicles from our Baltimore redemption center. Others give up and just collect their personal property, leaving financial institutions holding the bag.
Remarketing & More
As a full-service partner to our consumer-lending clients, Greenwood Recovery also handles asset liquidation for those who are authorized to sell collateral to satisfy debt. In those cases, we prepare the property for sale — rekeying vehicles, for example — and market it to potential buyers. Vehicles go on the block weekly at area auto auctions, where our remarketing division manager works to get top dollar. We also operate a licensed auto-title service that can handle any ownership transfers in-house.
Why Trust Greenwood Recovery?
Greenwood Recovery has developed its industry-leading expertise over decades in the business. Thanks to the vision of second-generation company President Burt Greenwood Sr., we were one of the first repossession companies in Baltimore: He began handling asset recovery for a major auto lender in the mid-1950s, when taking back a car meant hot-wiring it and driving away. Now our staff is trained and certified through the American Recovery Association, and we remain committed to continued professional growth.
Financial institutions in the Mid-Atlantic and beyond turn to us time and again because of our exceptional service and extraordinary results. For repossession services delivered with integrity, call (410) 383-8000 today to enlist the experts at Greenwood Recovery. And don’t forget to check out our frequently asked questions to learn more about us and our capabilities.