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Submit Application

Client’s Application is Submitted
This will usually occur after filing, though we can also accept an application prior to filing, to give you a preliminary, non-binding idea as to whether the client might qualify for financing after filing, and whether the vehicle is eligible for redemption.

Confirmation
We’ll contact your client to confirm the information provided and to get some additional details.

Lending Decision
We’ll inform your client of our lending decision by phone, usually within a matter of minutes. We’ll also fax you a Good Faith Estimate detailing the redemption loan options, as well a loan acceptance form, documents relating to the vehicle condition and insurance, and a statement regarding your legal fees, all of which your client will need to sign and return.

Loan Acceptance and Appointment
Within five days, we’ll receive your client’s signed loan acceptance form by fax, and will call the client to determine the most convenient time to meet with the program manager at the nearest participating dealership to select a vehicle and close the loan.

Redemption Order
You’ll take the steps necessary, (e.g., filing the motion and proposed order, etc.) to obtain an Order of Redemption

Loan Documents
Once the redemption is ordered and the 341 meeting has taken place, all of the necessary loan documents and our overnight shipping label will be sent to you, either by mail or as PDF files. Your client will complete these and return them to us within seven business days.

Funding and Disbursement
Usually within three days of receipt, the loan will be booked, and funds will be disbursed as directed in the paperwork. Your client’s first payment on the new redemption loan will be due within approximately 45 days from the contract date.