PHOENIX — announced a major overhaul of its Web-based marketing system this week.

"Due to the current subprime automotive lending environment, BK marketing is more valuable than ever," said Robert Davies, president of

"We have hundreds of dealers logging on to our BK system on a daily basis, and with the fresh BK being the most sought after loans by the subprime lenders these days, we took this as an opportunity to add new features and processing capabilities. With the advent of these new features we are clearly maintaining our status as the industry leader," he added.

More than 100,000 people filed for bankruptcy and more than 65,000 people discharged a bankruptcy in October 2008, Davies pointed out.

This proved to be the busiest month for the bankruptcy court system since the Bankruptcy Abuse Prevention and Consumer Protection Act went into effect more than three years ago, he highlighted.

"We have been booking fresh BK deals since the year 2000, and historically they are by far our best-performing loans," explained Dedra Muffley, of Tidewater Motor Credit. "We are looking to do away with the non-bankruptcy paper or customers who look like they are on their way down.

"We want the customers that have their problems behind them. You are seeing the larger subprime lenders, the AmeriCredits and CapOnes, becoming our competition with these fresh discharges," she continued.

The overhaul included new user features as well as performance and capacity increases. 

"Our application service provider,, upgraded our database software and hardware to take advantage of the new features and optimizations that up until now were not available," said Robert, "The application upgrades were done without any service interruptions and have increased the application performance tenfold. 

"The overall application platform is completely scalable, meaning that as our customer base grows and the quantity of BKs increase we will be able to respond without performance loss," he concluded.