“Great achievement is usually born of great sacrifice and is never the result of selfishness.” – The Law of Success: In Sixteen Lessons – Napolean Hill, 1918.
EDITORIAL
From the famous Spartan King Leonides who sacrificed himself and the 300 to delay the Persians, to “Mad Jack” Churchill, armed with only a longbow and sword as he delayed the Germans at Dunkirk, history provides us examples of men and women of true courage and leadership. While not all leaders face such life and death consequences, there are many who make sacrifices for their cause. This includes the repossession industry.
Bait and Switch
I remember once many years ago going to a dealership to buy a car with my ex-wife in her name alone. We’d negotiated with the salesman on the price, payment and rate on a scratch sheet. The Sales Manager, knowing I was in the repossession business, tried engaging me in a conversation away from the sales room leaving her alone while the salesman printed out the contract.
I’d been dealing with car dealers since I was seventeen working for an auto auction and trusted this guy as far as I could throw him. I broke off our conversation as soon as the salesman set the loan doc down.
Returning to the office, the salesman kept the printed contract at a distance until the signing period, at which point, he put his hand over the disclosure section where the final contract details were expecting her to sign.
Not born yesterday, I asked him to move his hand to which he told me not to worry about it, nothing had changed. Adamant, and that’s putting it nicely, I demanded he do so again. And when he did, lo and behold, the terms on the contract had changed and he’d packed the back end with worthless add on products and jacked up the rate to earn some markup. Needless to say, I raised Cain and we left.
It was a classic contract bait and switch. Usually used on consumers in a hurry or too trusting of those providing the contract.
Well, late last year, negotiations between the ARA and a major lender began in a similar manner. What followed was some tense negotiations that went nowhere until the ARA and the industry finally put their foot down.
The Price of Victory
By late April, the majority of the repossession industry had taken a stand against this lender’s new contract and some unreasonable terms within it. Under the weight of massive push back, they eventually caved in and returned with new reasonable terms. But this win for all came with a price for at least one person.
Getting a major lenders to back down from this contract was no small matter. It took a whole lot more than a few articles on CURepossession to get them to budge. It took some very heated conversations, a ton of industry unity and came with some sacrifices.
In case any of you missed the ARA’s May 21st “News and Views” newsletter, almost buried and very subtly worded was evidence of the price of this victory.
📨 A Letter from the ARA President 📨
The American Recovery Association remains unwavering in our commitment to bringing transparency and accountability to this industry. In today’s challenging environment, it’s more important than ever that we advocate boldly and consistently on your behalf.
At times, this advocacy comes at a cost, even impacting the individual businesses of those who serve on your Board. Yet we stand firm, because we know the agent sector must have a seat at the table and a voice in the conversation.
Our goal is not to divide, but to engage lenders and forwarders in meaningful dialogue that leads to mutual understanding and respect. ARA will continue to ensure your voices are heard—clearly, professionally, and with integrity.
Thank you for your trust. We remain committed to building a stronger future for all our members, where everyone operates under the same set of rules.
Vaughn Clemmons
ARA President
Between the Lines
Let’s not sugar-coat this. There was personal and professional sacrifice made to accomplish this. When Vaughn wrote, “advocacy comes at a cost, even impacting the individual businesses of those who serve on your Board,” he was being humble.
There’s been confirmation that professional retaliation occurred shortly after the revised contract was released. Based on the totality of circumstances, it is reasonable to assume Vaughn was not alone and that other ARA Board members may have experienced similar punitive actions.
Vindictive? Clearly. Reasonable, no. Unfortunately, this is nothing new.
History teaches us that leadership is often a lesson in sacrifice.
Lessons in Leadership
Many of America’s early leaders suffered for their principals. Thomas Paine, who wrote “Common Sense” the thesis for the American Revolution, died homeless. Robert Morris, America’s first millionaire and forgotten financier of the revolution, died in debt, in a debtor’s prison. George Washington had to borrow money from a neighbor just to go to Philadelphia following his first election. He later told a relative that he needed the job’s pension just to pay his bills.
“Great achievement is usually born of great sacrifice and is never the result of selfishness.” – The Law of Success: In Sixteen Lessons – Napolean Hill, 1918.
For the Benefit of All
There is a tired old excuse many unaffiliated agency owners keep making over the years and that is; “Why should I join an association? What have they ever done for me?” In short, I can only answer; “More than you will ever know.”
Usually, the impact of success is best measured in the things that didn’t happen more than those most tangible and obvious. Over the years, across all of the Associations, both state and national, there have been many men and women in the repossession industry who have shown great persistence, vision and sacrifice for their industry brothers and sisters.
As valued and important as they have all been, I applaud Vaughn and the other ARA Members who may have made this sacrifice for the benefit of all. It is noble, admirable and an unfortunate side effect of honor and character.
An industry without leaders willing to sacrifice for the better good is an industry doomed to failure. Next time you see or talk to one of your association leaders, just say “Thank you!” They earned it more than you will probably ever know.
Kevin Armstrong
Publisher
Defeating the Divide-and-Conquer Playbook – Lessons in Leadership – Defeating the Divide-and-Conquer Playbook – Lessons in Leadership – Defeating the Divide-and-Conquer Playbook – Lessons in Leadership – Defeating the Divide-and-Conquer Playbook – Lessons in Leadership – Defeating the Divide-and-Conquer Playbook – Lessons in Leadership –
Defeating the Divide-and-Conquer Playbook – Lessons in Leadership – American Recovery Association – ARA – Repossess – Repossession – Repossession Agency – Repossessor
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