American Towman Magazine - August 2022

Page 68

News Flash Wyoming Proposing Tow Regulations

The Wyoming Department of Transportation has released a revised set of rules for the towing and recovery industry which covers a wide range of practices from equipment to customer service. The regulations are a response to numerous complaints over price gouging and unregulated practices. With the input of a Towing Advisory Board formed in 2018, the proposed set of regulations will be enforced by the Wyoming Highway Patrol (WHP) within its jurisdiction. Penalties for violating the outlined rules include levels of suspension or removal from the WHP’s call-rotation list. The proposed regulations include standards companies must meet to get on the rotation list. These include provisions that drivers must pass a background check and their equipment must meet a minimum threshold of safety requirements. The rules also outline how WHP will determine if a company is meeting their obligations to keep rates fair and reasonable. WHP will consider fee schedules, posted rates, quotes and rates charges for similar services. “I think this is a good start,” said Andy Burg, chairman of the Towing Advisory Board and longtime owner of a towing and recovery business. “It’s not everything I like or want, but it’s a good start to getting ahold of our state.” Source: wyomingnews.com

Repo Industry Gathers in Denver

At the North American Repossessors Summit (NARS) held in Denver, Colorado, on June 21 and June 22, a gathering of close to 500 repossession agents, collections and recovery managers from an array of industry service-providers convened to discuss issues of concern to the industry. The two-day

Wyoming released tow regulations to counter price gouging and other unregulated practices.

event was hosted by the American Recovery Association (ARA) and included presentations given by executives from the finance community and repossession agents. Three executives from the finance community expected repossession volume to rise in the coming months. One of them noted a need to increase loss reserves due to upcoming market turbulence in the next nine to 12 months. Another highlighted that due to the unpredictability of the economy, that the credit-card market could be a good predictor of what is going to happen with repossession rates. Three active repossession agents comprised another panel. Starr Sawalqah, who runs Alpha Recovery in Phoenix, offered several recommendations to her fellow repossession agents. She insisted that agents “shouldn’t be afraid to be vulnerable” when describing their escalating costs to finance companies. But she emphasized that agents need to back up their claims with plenty of data to show just how much it costs to skip-trace a customer and repossess a vehicle. James McNeil, the chief executive officer of Day Break Metro, said, “We’re in an industry that’s going to be surprised by how much we’re going to be overwhelmed with assignments.” Source: autoremarketing.com

North 68 • August 2022 | Towman.com

Honk Technologies Testing Towbook Integration

Honk Technologies, a digital roadside assistance and vehicle transport company, announced that it is currently exploring integration options with Towbook, the leader in cloud-based towing software for dispatching, impounds and reporting. The initial integration enables partners to receive, accept and manage Honk towing and roadside assistance jobs from within their Towbook system and get paid instantly after job completion. Testing is taking place in specific cities for a limited time with select Honk Partners. “When we ask our partners what they’d like to see from Honk, one of the top requests has long been the ability to send Honk jobs through their Towbook dispatching software,” said Corey Brundage, CEO at Honk. “We’ve been working closely with Towbook to ensure that this integration provides the easeof-use, visibility and powerful functionality that Honk partners have come to expect, all from within the platform they use to manage dayto-day operations.” Source: Honk Press Release