FOR IMMEDIATE RELEASE
In an unprecedented move, Allied Finance Adjusters has been targeting TFA members with advertising that depicts a sinking ship, suggesting that the trade association will fail once the current Employee Dishonesty Policy expires, and that TFA members should quit and join AFA.
TFA spokesperson Patrick Altes responded, “The sinking ship could depict the professional repossession industry, as long as the leadership of a trade group exhibits juvenile and divisive behavior…intelligent repossession professionals know the value proposition of membership extends beyond one insurance policy that, for all intents and purposes, offers little or no real protection, to cover a procedure that does not happen any longer in our business.” Altes said, “We handle virtually no sales proceeds, and don’t collect funds. And high deductibles would exclude the rare occasions when that might happen. To use their own ineffective policy as a way to belittle TFA is an insult and a fraud.”
As members of the Council of Repossession Professionals (CORP), TFA and ARA have successfully caused the negotiation of unfair contracts and the delay or retraction of inequitable demands placed on the repossessors. These two trade groups continue to interact with the CFPB to apprise them of unfair practices or demands placed on the repossession community.
ARA President David Kennedy said, “The only hope this industry has is unification, coming together to put an end to the fragmentation of our industry.” Kevin Flynn, in an interview years ago, listed this as one of the main reasons he was able to move in on our industry.
“These unnecessary insults among the associations hurt us all”, Kennedy continued. “TFA has a long-standing reputation in the industry. This behavior has got to stop today. Unity and being of one mind is the direction for the future.”
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