METHOD AND SYSTEM FOR TRACKING PERSONAL PROPERTY COLLATERAL

摘要

A tracking system is provided for tracking personal property, such as to track collateral which is used to secure a loan. Collateral belonging to a borrower, such as electronic devices or other items of personal property having a wireless communication interface, is placed in communication with a tracking system which receives information from those items of collateral and utilizes that information to verify the existence of the borrower's collateral.

主权项

1. A method of tracking collateral used to secure a loan comprising:
identifying personal property utilized by a borrower as collateral for a loan provided by a lender; establishing a wireless communication link between a collateral tracking system and a collateral reporting device of the borrower; receiving information transmitted from said collateral reporting device to said collateral tracking system regarding devices which are in communication with said collateral reporting device of said borrower; and comparing, at said tracking system, said information received from said collateral reporting device to personal property identified by said borrower as collateral to verify that the personal property identified as collateral is associated with said reporting device.