Throughout 2022, the repossession industry was experiencing massive payment issues with one of our repossession forwarding partners. While it seemed that these problems had been mostly resolved later in the year, they appear to be making a comeback. We at the ARA need your feedback on this.
The American Recovery Association (ARA) is responsible for protecting not only its membership, but the entire industry from facing issues that harm agents regardless of affiliation. It is essential for the industry to operate with transparency, especially when members are concerned with existing conditions that could spread quickly and threaten the agent network.
In order to get a better understanding of the industry, the ARA is conducting a survey to get a feel for how companies across the country are being paid by our partners for services rendered. With the majority of the nation’s repossession companies being small, this makes the importance of their timely payment that much more critical. If past due invoices are carried on for too long, their companies very survival is imperiled.
It is the responsibility of the ARA to ensure that the industry is aware of which companies have the potential to cause harm to other businesses. By sharing information across-the-board about who is doing what and to whom, the entire agent network can be informed and create buffers to prevent any potential hurt. In doing so, the ARA is fulfilling its responsibility to both its members and the entire industry.
Take Our Poll!
This anonymous poll is for agency owners only. Only one response per owner will be allowed. Please be honest and as accurate as possible. This poll contains questions on the number of days past due invoices are being held and for how much as well as what actions agency owners are taking to recover their past due invoices.
Sincerely,
Vaughn Clemmons,
President, American Recovery Association
About the ARA
American Recovery Association (ARA) is a membership organization made up of more than 260 repossession business owners providing service from more than 500 locations to more than 27,000 national and international cities. As the world’s largest association of recovery professionals, we strive to be a leader and advocate for the recovery industry by providing member support, education, and certifications, foster relationships between the lending community and repossession agents, and host the North American Repossessors Summit (NARS), an annual two-day summit – the largest repossession conference in the industry.
Invoice Payment Problems are Back – Take Our Poll! – American Recovery Association – ARA – Repossess – Repossession – Repossession Agency – Repossessor – Forwarder
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