Resolvion, the collateral recovery and transport firm, has launched a new collection service focused on small outstanding balances where the lender still holds title to the underlying collateral.

National availability was announced after the completion of successful test programs with two of Resolvion's major clients.

The service, called EZ Collect, is designed to collect on accounts where minimal principle payments, late fees, extension fees and other penalties are outstanding.

Because Resolvion has both the authority and capability to pursue repossession, borrowers pay much more attention to the collection efforts, the company said.

"Very few people are going to risk losing a truck or piece of equipment over relatively small outstanding balances," said Michael Levison, Resolvion's CEO. "Accordingly we are finding that collection rates are extremely high for this type of account...in the 60%-80% range."

Resolvion views EZ Collect as a superior alternative to a traditional door knock service. Rather than simply delivering a letter to a last known address, Resolvion deploys both its internal skip-tracing staff and a vast network of field agents to find missing borrowers and establish contact in the field. Unlike door knock services, the fees charged are contingent on success and are generally paid by the debtor. EZ Collect fees are also based on a flat fee schedule rather than a percentage of the outstanding balance, the company said.