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Ready 4 Repo Introduces Powerful License Plate Recognition System Into Repossession Market

Ready 4 Repo Will Work Exclusively With PlateScan to Enhance Ability to Capture Vehicles

Stephen Brockway, President & CEO of ADDvantage Data & Marketing LLC, dba Ready 4 Repo, announced today an exclusive agreement with PlateScan, a leading Automatic License Plate Recognition company, to enhance recovery opportunities for wanted vehicles in the automotive finance industry.

Ready 4 Repo and PlateScan have developed a proprietary system that allows automotive lending institutions and repossession companies to access a database of vehicles that are wanted by lenders. With debtors more likely to become a "skip risk," and repossessions at an all time high, interest is dramatically increasing for the Ready 4 Repo product that can help find vehicles quickly, no matter where they are in the country.

"We are very excited about our relationship with PlateScan," said Brockway. "We now have an unsurpassed product that will allow recovery companies to locate vehicles that under normal circumstances would not be noticed or recovered. This system will produce quicker recovery times, allowing lenders to take possession of their collateral sooner, thus limiting potential loss. ALPR allows the recovery vehicle to continuously scan for wanted vehicles. It notifies the driver, or sends a dispatch notice to our offices, when a wanted vehicle is spotted. This allows us to recover the vehicle quickly, anywhere in the country and without incident."

The system includes a Panasonic Toughbook and proprietary PlateScan software and cameras. It will be available exclusively through participating Panasonic resellers.

"PlateScan is the leader in ALPR software and hardware. We are very excited to work with Ready 4 Repo. We know that PlateScan will dramatically increase the number of recoveries, as well as reduce the time it takes to make them happen," said Martin Alper, chairman of PlateScan.

The first deployment will include vehicles owned by Ready 4 Repo. It will also include those of other recovery companies that have seen the system in action.