MURRIETA, Calif. — Sekurus Inc., manufacturer of the ON TIME payment protection system, has announced the formation of Sekurus Financial Services, a full-service accounts management program developed for dealers and financial institutions serving the subprime buy-here, pay-here (BHPH) market.

"By successfully leveraging our company's formidable knowledge of the auto industry's subprime market, we can now offer a financial services division that further reduces risk and helps to manage the entire billing and payment process from start to finish," said Mike Simon, president and founder of Sekurus.

Sekurus Financial Services will provide a broad range of billing and collection support services to dealers and financial institutions that use the ON TIME starter interrupt system, according to the company. They plan to offer background and data verification, data backup maintenance, close monitoring of various interest loans and prevention of late payments, confirming and managing insurance issues with debtors, negotiating insurance settlements and handling potential repossessions. In addition, Sekurus promises person-to-person customer service throughout the process.

The payment-management system provided by Sekurus Financial Services was specifically developed to help overcome the billing obstacles and limitations commonly faced by BHPH lenders.

"We consider ourselves portfolio managers, eliminating the headaches involved with approving, tracking and collecting auto loan payments," Simon said. "Sekurus Financial Services is an invaluable resource for institutions and dealers working with high-risk buy-here, pay-here borrowers on a daily basis."