Collateral Recovery Services
When a borrower defaults on a secured loan, timely and effective recovery of the collateral is crucial to protecting your financial interests. IDEA Law Group offers comprehensive legal support for lenders, financial institutions, and creditors in retrieving assets that secure loans, such as vehicles, equipment, or real estate.
Collateral recovery services include:
Impound Assistance
We help clients navigate the complexities of impounds, ensuring that third party impounders are acting in compliance with state laws as they apply to lender’s rights.
- Maintaining and reviewing a log of state statutes that apply to impounds and liens
- Advising clients of their rights, impounder’s rights, and any limitations that might aid or impede recovery on a case-by-case basis
- Coordinating with repossession agencies
- Ensuring borrowers are notified and that due process is followed
- Resolving disputes related to impounded assets in a cost-effective manner
Replevin Actions
When collateral cannot be recovered through self-help repossession, or when the borrower refuses to voluntarily surrender the collateral, we initiate a replevin action to secure a court order for the return of your assets.
- Sending the proper notices to the borrower in accordance with the CFPB
- Filing the necessary legal documents
- Representing you in court to prove your legal right to repossess the asset and seek monetary damages, where applicable
- Obtaining temporary or permanent replevin orders
- Enforcing court judgments, with the assistance of law enforcement if necessary
Negotiation & Settlement
While litigation may be necessary, we also work to settle disputes out of court when possible.
Our attorneys engage in negotiations with borrowers, and in some instances third parties, helping to arrange payment plans, voluntary surrender of collateral, or other resolutions that can minimize cost and time.
Vehicle Title Curative Services
If you have identified title defects to be resolved, IDEA Law can assist in procuring clear, marketable title.
- Correcting Clerical Errors
- Lien Resolution
- Resolving Ownership and Chain of Title Disputes
- Handling Lost or Stolen Titles
Each state has specific procedures and regulations regarding vehicle title issues. Our legal team ensures compliance with local laws to facilitate a smooth curative process, minimizing delays and avoiding legal complications.
States We Serve
We leverage the latest technology and deploy state-of-the-art business practices for the following states:
Arizona, California, Colorado, Idaho, New Mexico, Utah, and Wyoming.
