The New Chase Contract – Do Not Sign It! – Your State Associations

The terms of this contract are not only impractical but also dismissive

Dear Fellow Repossession Agency Owners,

We, as the leaders of our nation’s state repossession associations are writing to express our full support for the American Recovery Association’s (ARA) recent memo regarding the new Chase contract. The concerns outlined by the ARA resonate deeply with our shared commitment to protecting the integrity, professionalism, and sustainability of our industry.

The terms of this contract are not only impractical but also dismissive of the realities we face as repossession professionals. The unreasonable insurance requirements far exceed the actual risks of our work, while the stagnant rates, unchanged for years, fail to account for the rising costs of fuel, equipment, labor, and compliance. Additionally, the contract’s omission of compensation for essential services, such as flatbed or dolly fees, further undermines our ability to operate effectively and safely.

This agreement does not reflect the value of our services or the partnership we strive to maintain with clients like Chase. It sends a troubling message about the future of our industry, one that we cannot accept.

We stand with the ARA in urging all repossession agency owners to refrain from signing this contract until it has been thoroughly reviewed by legal counsel. We must protect our businesses from undue liability and ensure that any agreement we enter support the long-term viability of our operations.

The ARA’s proactive steps, including their request for a meeting with Chase leadership, demonstrate their commitment to advocating for our collective interests. We encourage us all to remain united and engaged as this dialogue unfolds, whether at the upcoming NARS conference or beyond. Our strength lies in our solidarity, and together, we can demand fair and reasonable terms that honor the critical role we play in the recovery industry.

Thank you all for standing firm in defense of our profession. We look forward to working alongside you all to ensure that our voices are heard and our industry is respected.

Sincerely,

Alliance of Illinois Repossessors – President Santino Datoli

California Association of Licensed Repossessors – President Michael Farhood

Florida Association of Licensed Repossessors – President Suzanne Chartier Burns

Georgia Association of Licensed Repossessors – President John Newberry

Indiana Professional Repossessors Association – President Todd Case

Michigan Association of Repossession Agencies – President Brian Tolstedt

Minnesota Association of Repossession Professionals – President Kayihan Seran

New York Professional Repossessors Association – President Salvatore LoDico

Ohio Association of Repossessors – President Amy Bednar

Oklahoma Association of Professional Repossessors – President Lisa Hancock

Pennsylvania Repossession Association – President Jeremy Cross