MAPLEWOOD, N.J. -

In 2008, the American Recovery Association decided to take an important step toward industry unification and started planning an event to bring together collateral recovery specialists, remarketing professionals, professionals in the lending industry and industry vendors.

Spurred by the disappointing economy and a downturn of events in the industry, ARA sought a solution to equip professionals with the tools and opportunities to turn the industry around.

The inaugural North American Repossessors Summit (NARS) in 2009 set a precedent for the industry and gave participants a new and productive opportunity to look forward to.

Since the inaugural event, NARS has grown by a hundred attendees every year, and the fourth annual event in 2012 hopes to bring in a record 500 participants, according to officials.

ARA, one of the world’s largest organizations of professional finance adjusters and certified recovery specialists, annually hosts the summit to provide an open and collaborative environment for all recovery professionals — regardless of location or association affiliation — to address the challenges and complexities facing the industry and lay the foundation for its future.

Although the overall goal has remained the same, the theme of NARS has differed every year to adjust to the changing times. The upcoming event will focus on “adapting to survive in a changing industry” with an overall theme of “NARS 2012 Boot Camp.”

From changes in government to the various new challenges arising in the industry, professionals must be armed and ready with knowledge and tools to help their business survive. Similar to previous years, the summit will provide an open forum for discussions on a number of important industry issues, including the differences between direct, forwarding and facilitation models, industry benchmarks and the various challenges industry professionals face.

Each year, the summit secures a plethora of seasoned speakers for keynote speeches and panel discussions, including Jason Grubb, chief operating officer of Santander Consumer USA; Mark Floyd, chief executive officer of Exeter Finance Group; and Tom Hudson, consumer finance attorney and partner at Hudson Cook.

Recovery professionals and lenders alike have lauded this as an event to attend, and attendees and supporters have made NARS what it is today — a valuable and productive place to discuss, network and learn, according to the group.

It’s important to stay updated with industry, governmental, and vendor changes, and being in an interactive environment encourages important discussions about these changes to improve the industry, the group stressed.

With the success seen last year, NARS will also offer an additional training day on the Friday preceding NARS (March 23).

ARA will host its Collateral Recovery and Remarketing Certification and Training Program for lenders, ARA members and their employees.

ARA partners with nationally recognized industry leaders to create an industry-recognized certification program that will feature the Certified Asset Recovery Specialist (CARS) program, the Collection Training Consultants program, classes covering industry topics such as business ethics, data security, skip-tracing, online collateral remarketing and a best practices session.

For more information about NARS 2012 and to register, visit www.reposummit.com.

Art Christianson is chairman of the North American Repossessors Summit and president of Commercial Service Corp. of Maplewood, N.J.