The Regulation of Credit Counseling - The Impact and Relevancy of Tax-Status: A Panel Discussion by State Regulators

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Credit counseling regulators from four states will hold a panel discussion on the subject of "The Regulation of Credit Counseling - The Impact and Relevancy of Tax-Status" at the American Association of Debt Management Organizations' (AADMO) Fall Conference in Savannah, GA on October 21, 2008.

Credit counseling regulators from four states will hold a panel discussion on the subject of "The Regulation of Credit Counseling - The Impact and Relevancy of Tax-Status" at the American Association of Debt Management Organizations' (AADMO) Fall Conference in Savannah, GA on October 21, 2008.

The issue of tax-status has been a point of debate in several states that are seeking to regulate credit counseling or amend their existing laws. Most recently the states of Colorado, Delaware, Idaho, Kansas, Maine, Maryland Mississippi, Missouri, Virginia have enacted legislation to permit "for-profit" credit counseling agencies to operate legally. Legislation to this effect is under consideration in California, Massachusetts, New Mexico, Pennsylvania and Wisconsin.

The AADMO Fall Conference will also feature the following sessions:

  • Document Retention Compliance Systems
  • Electronic Signatures - What You Need to Know
  • Converting Your Tax-Exempt Nonprofit to a Taxable Nonprofit or For-Profit (Can You Do That?!): Options, Pitfalls and Solutions
  • Money Transmitters - "For-Profit" Credit Counseling's New Challenge
  • CROA - Implications and Realities for Credit Counseling
  • Legislative Update & Review
  • Review of State Laws with Regulators
  • EOUST Briefing and Update on Bankruptcy Reform Credit Counseling and Debtor Education
  • 5 Simple Steps That Credit Counseling Agencies Can Take to Comply with Telemarketing Laws

The AADMO Fall Conference program and registration information may be found at http://www.AADMO.org.

ABOUT AADMO
AADMO is the largest trade association for the credit counseling and debt management industry. Nationwide, the majority of licensed and legally operating credit counseling agencies are members of AADMO.

AADMO is an industry education and advocacy organization the mission of which is to promote and ensure the continued operation and viability of credit counseling and debt management organizations.

AADMO members are consumer credit counseling agencies, debt management organizations, credit counselors, personal finance educators, credit and debt information educators, bankruptcy pre-filing counselors, bankruptcy pre-discharge educators, consumer lawyers and many others.

AADMO is the only trade association to have held state law compliance workshops with the New York State Banking Department and the California Department of Corporations upon enactment of their respective laws governing credit counseling. AADMO is also the only trade association for the industry to publish a formal summary of state laws that has been reviewed by state regulators.

For more information visit http://www.AADMO.org or call 281-361-2325.

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MARK GUIMOND
AADMO
281-361-2325
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