ARA Recognizes Westlake Financial Services for Increased Fuel Surcharge Support

The American Recovery Association (ARA) would like to recognize and commend Westlake Financial Services for its decision to significantly increase temporary fuel surcharge support for its nationwide recovery network.

Effective immediately, Westlake has announced a temporary fuel surcharge of $40 per completed repossession nationwide and $50 per completed repossession in California, across all assignment types.

This action comes at an important time for the collateral recovery industry, as agencies across the country continue to experience increased fuel prices and rising operating expenses.

Over the past several months, ARA has continued to raise awareness of the financial pressures facing professional recovery agencies and the need for lenders, forwarders, and recovery providers to work together to address these challenges. Westlake listened to the recovery industry’s concerns and responded with meaningful action.

We also want to specifically recognize Westlake for acknowledging regional differences in operating costs by providing additional support to its California recovery partners. The cost of doing business is not the same in every part of the country. Fuel, insurance, labor, regulatory requirements, and other expenses can vary significantly from one market to another.

Recognizing these regional differences is an important step. A one-size-fits-all approach does not always reflect the actual cost of providing professional recovery services across the country, and we appreciate Westlake recognizing the additional challenges currently being experienced in the California market.

This is about more than a fuel surcharge. It demonstrates what can happen when industry partners communicate, listen to one another, and work together toward solutions.

Lenders need strong recovery agencies. Recovery agencies need strong lender and forwarder partners. When operating conditions change, maintaining those relationships requires open communication and a willingness from everyone involved to recognize the challenges facing their partners.

ARA understands that increasing operating costs affect every segment of our industry, and we do not believe the burden should fall entirely on any one group. The path forward is continued communication, collaboration, and the development of sustainable solutions that allow professional recovery agencies to continue investing in their people, equipment, training, technology, safety, and compliance.

Westlake has taken a meaningful step in that direction, and ARA commends the company for listening to its recovery partners and taking action.

We encourage lenders, forwarders, and recovery professionals throughout the industry to continue these conversations and work together as we navigate the challenges ahead.

One Industry. One Professional Standard

Todd Case
President
American Recovery Association

About the American Recovery Association (ARA)
The American Recovery Association is the world’s largest association dedicated to the advancement and professional development of the recovery and remarketing industry. ARA provides compliance support, education, and advocacy for hundreds of recovery professionals nationwide. ARA is the founder and host of the annual three-day North American Repossessors Summit (NARS) — the largest repossession conference in the industry. For more information, go to repo.org or call (972) 755-4755.