American Lenders Service Company is the leading provider of collateral recovery services and are capable of skip-tracing and servicing a lender’s defaulted loan account regardless of the location of the collateral. They also deal with repossession, collections, investigations, and remarketing. In order to qualify for a franchise you must have a minimum net worth of $50,000 and at least a high school degree. In addition you must have both a clean driving record and no criminal record. You also need to have business and money management skills, good communication skills, and basic knowledge of the automotive industry and mechanical equipment.