Archive for the ‘News’ Category
The Cost of COVID-19 on the Industry
Over the last few weeks, ARA has been assessing, researching and creating content which will put forth a clear and present argument for radical change within the pricing structures of our industry, which will be beneficial to all parties. However, the spectrum of issues is a broad one and cannot be tackled with levity. These services are essential to the entirety of the auto finance business and must be valued as such – by all parties involved.
As part one of our multi-part series, ARA has put together a stance on COVID-19 measures – click below to view. Contained within are suggestions for repossessors, lenders and forwarders alike because again, we must work together to effect the sweeping change so desperately needed. Click below to see the what we put together.
Nationwide Industry Webinar: Developing a Sustainable Business Model
On May 1st, The American Recovery Association invited the entire industry to come together to Develop a Sustainable Business Model that can withstand any crisis.
COVID-19 proved that we, as an industry, did not have the resources needed to manage a pandemic. During this webinar and beyond, we created a sustainable model for our business to ensure that we are prepared for crises like this in the future.
Throughout this essential webinar meeting, review Industry Standards for contracts that are crucial to all of our businesses as we unite as professionals to create a model that is viable in our current climate and beyond.
Click below to watch!
Listen to Dave Kennedy & Les McCook on a Special Episode of the Auto Remarketing Podcast
ARA Executive Director Les McCook and President Dave Kennedy join senior editor of SubPrime Auto Finance News, Nick Zulovich, to dive into the challenges that COVID-19 has brought on the Auto Recovery Industry in a new episode of the Auto Remarketing Podcast.
Les & Dave discuss one of the automotive industry segments that has been hit the hardest by the pandemic, the auto recovery industry, and answer questions on the current and future state of the industry. Click below to listen!
The Difference Between
Emergency & Standard Replevins
ARA partnered with Weltman, Weinberg & Reis Co., L.P.A. legal expert Amy Clum Holbrook to host a webinar that detailed the in’s and out’s of replevins to maximize your recovery.
In the webinar, Holbrook and American Recovery Association explained the process from start to finish. Topics included:
- Overview of replevin and emergency replevin procedures
- Discussion of how pandemic related orders impact replevin and repossession
- Review of artisan lien and forfeiture problems
- Ramifications of bankruptcy on vehicle recover
Now more than ever, creditors should do their due diligence to determine when and why to file a replevin. Click below to watch the webinar!
Make Your Company’s Voice Heard TODAY
Over the past month across our country and around the world, the lives of so many have been deeply impacted by the unprecedented and difficult circumstances resulting from the COVID-19 coronavirus and its rapid spread. Our hearts go out to all those who are affected directly and indirectly, especially to those in the repossession community that we serve.
We know that many of you in our industry are facing growing pressure due to the increased stress and diminished revenue during this period. Know that ARA is working diligently on a daily basis to help get our industry back to work as quickly as possible so that each of you can once again serve your clients and provide a livelihood for you, your families, your employees and their families. Towards that end, we must bring a critical and timely issue to your attention and need your immediate response.
Right now, in the midst of the COVID-19 crisis, our industry is facing a different kind of crisis due to the introduction this week of new potential legislation that if passed would devastate our businesses over the coming months in ways that most would not be able to recover from. Bills in both the Senate and the House of Representatives have been introduced (that would become attached to the next round of small business loan assistance if approved) which would not allow any repossessions for a period of 120 days from the ending of the National State of Emergency. Needless to say, an additional 120-day moratorium on top of the downtime currently being experienced by the repossession industry would be devastating to most of our members.
Over the last 48 hours, the Leadership of ARA has been interacting with multiple legislators to fully understand where this bill is in the process. We have been collaborating and strategizing with other trade associations inside our industry on how to fight this legislation together (as all will be affected by this legislation), and have been meeting with a key lobbyist group to determine the most effective ways to engage this process immediately and fight back against these bills.
The lobbyist group has shared very clearly that in order to assist us in the fight to preserve our industry, we MUST provide an accurate representation of the companies in our industry and what congressional districts and states they fall under, as the first question lawmakers always ask is “who do you represent and how many are affected.” We MUST put this information together right away for our repossession community, and then we will combine it with the other associations that are working together on this situation to create the biggest influence possible towards hopefully changing the course of these bills that would block us from returning to work.
Helping us gather this information will not only allow an immediate effort on this matter, it will also allow ARA to be prepared for any other matter in the future where we need to engage a lobbying effort on your behalf. ARA has been calling for our community to rise up and become a strong and united voice for a long time, and it has never been more crucial than this moment. Whatever your political views, association status, or opinions are regarding ARA, we need your help to make sure that every repossession company in the country is accounted for as we fight back against this legislation that could prevent us from doing business far after the COVID-19 crisis subsides.
We cannot win in this fight to sustain our industry without your help and we must act quickly. We urge you to fill out the below questionnaire today to make sure that your company and all of its employees are counted. Then, please get word to all other repossession company owners you know across our industry and ask them to do the same right away. Together – UNITED – gives us the best chance at success today and in the future. Thank you in advance for your support.
The Current State of the Industry
ARA President Dave Kennedy and Executive Director Les McCook hosted an open industry webinar to answer all of your business questions and more in times of uncertainty.
Panelists during the webinar included experts Doug Duncan, Mike Peplinski and Joe Geeck, discussing topics from all over the industry, giving their own perspective on the state of the industry and defining best practices and best places for resources.
Webinar topics included:
- The Current State of the Industry
- Dealing with Human Resource Challenges
- Impact on Insurance Policies and Plans
- How this Crisis will Effect your Taxes and Accounting
To catch up on the current state of the repossession industry and check out the 120+ questions that were answered during the webinar, click the link below to watch the The Current State of the Industry – March 2020.
ARA 2020: The Future of the Repossession Industry
Exciting changes are on the horizon for ARA members in 2020. On December 2nd, we unveiled the new membership opportunities that ARA will offer next year and illustrated our vision for the future of the repossession industry.
During these webinars, we touched on:
- ARA’s six primary areas of focus going into 2020
- Ways ARA will be evolving to establish a standardized and fair playing field for the recovery industry
- In-depth explanation of the four categories of ARA membership in 2020
- and much more!
To catch up on the future of the repossession industry and the vision ARA has for 2020, click the link below to watch the ARA 2020: The Future of the Repossession Industry webinar.
The state of Illinois has officially declared American Recovery Association a licensed Recovery Agent School and Training Facility! This recognition allows all future recovery professionals to gain the training required to receive an Illinois Repossessors License and Managers License through ARA.
Illinois is the second state this year to declare ARA a licensed training school, with Florida declaring ARA a recognized training school in October. By early 2020, recovery industry stakeholders in Illinois will have the ability to streamline how licensing and compliance are engaged and verified.
“This new certification further cements ARA in their mission to provide true advocacy to Repossession Professionals,” said ARA President Dave Kennedy. “ARA has moved to perform as the Industry Association which provides education, licensing help, standardization, compliance, and insurance alternatives supported by a national footprint.”
ARA is continuing its efforts to gain certification and expects this will be the first of many important announcements in the coming months.
To learn more about the new direction of ARA, we are hosting a special webinar on December 2nd. The webinar will be offered at 4 different times to accommodate those who are interested. Click here to register for one of the webinars!
New Webinar – Cannabis Legalization and How It Affects You
Ever pondered how the constantly progressing cannabis laws will affect your business? What about if you run into a driver that is under the influence?
Tune in to our November Webinar November 20th at 1 P.M. CST, Hosted by Renee Low and Mike Peplinski of Harding Brooks. Topics include:
- Better understand the difference between THC and CBD
- Review credentials for an effective drug testing policies
- Train your drivers on encountering impaired drivers and customers
With the growing use of cannabis products, it is important to stay equipped with the facts you can use both in the field and out.
November 20, 2019 at 1 P.M. CST