FORT WORTH, Texas — With many companies and reports finding that repossessions and defaults are on the upswing, recovering these vehicles has become even more important to lessening charge-offs and bolstering bottom lines.

To help recover these vehicles, Toyota Financial Services recently announced it has partnered with Digital Recognition Network to use its License Plate Recognition technology services.

"The vast majority of vehicles recovered by DRN technology were found at locations that were not uncovered by traditional skip tracing techniques," said Kent Pace, corporate manager at TFS.

"Most impressive is the number of vehicles recovered that had already been through our entire internal and agency placement strategies," he explained.

DRN is an asset location company that uses a proprietary license plate recognition technology, a national network of LPR camera-equipped vehicles and integration with repossession software companies to help find vehicles that are not wholly owned by a buyer.

"We could not be more pleased to add TFS to our growing roster of clients," remarked Jay Newman, vice president of sales for DRN.

"We worked diligently with TFS to structure an agreement that will continue to add value to their long-term loss recovery strategy," he continued. "An increase in recoveries for TFS will also create growth and value for our national network of DRNAffiliates which is a true win-win situation for everyone."

For more information, visit www.digitalrecognition.net.