OneMain Financial & Impounds Follow-Up

ARA would like to provide an update following the recent article regarding impounds involving OneMain Financial. Since the article’s release, ARA has been in direct and ongoing communication with the OneMain Financial team, most recently yesterday.

These discussions have been highly productive and have provided valuable insights into OneMain’s impound procedures and overall recovery program. Notably, we learned that OneMain’s intention is to ensure that, when a repossession assignment transitions into an impound situation, every effort is made to keep the assignment with the originally assigned recovery agency throughout the impound process.

We are encouraged by the open and constructive dialogue and are pleased with the continued strengthening of the partnership between ARA and OneMain Financial.

Please contact us with any questions,

The ARA Board of Directors

Related Articles:

Copart Follow Up – ARA Names Lender

ARA’s Stand Against Backdoor Practices

Update from the ARA and CoPart Meeting

ARA – Impound Handling Update with Bridgecrest

ABOUT AMERICAN RECOVERY ASSOCIATION
Originally chartered on July 22, 1965, and located in Dallas, Texas, 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, ARA strives to be a leader and advocate for the recovery industry by providing member support, education, and certifications; fostering relationships between the lending community and repossession agents; and hosting 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.