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The Cost of COVID-19 to the Repossession Industry

A Very Important Letter from ARA President, Dave Kennedy –

To our partners in repossession, lending and forwarding:

We are failing – all of us.

Given the current state of economic affairs and the added pressure of COVID-19, our already struggling business model has become even more difficult to navigate. It seems that every day, there is a new challenge and we see many good repossession companies closing their doors, unable to keep up with the ever-increasing cost of doing business. The repercussions have shockwaves throughout the industry – lenders and forwarders alike are struggling to find quality adjusters who can produce results and maintain compliance.

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