If families are having difficulties making ends meet or facing financial difficulties, they many want to contact a credit counseling agency for a private and confidential personal budget analysis
Washington, D.C. (PRWEB) September 25, 2008
Mark Guimond, Executive Director of the American Association of Debt Management Organizations (AADMO), the largest trade association for the credit counseling industry, will be available for media inquiries and interviews following his testimony before the U.S. Federal Trade Commission's (FTC) panel on credit counseling in Washington, D.C. on September 25, 2008.
Guimond testified about the important differences between credit counseling and debt settlement, the laws that apply to the different types of organizations and the availability of credit counseling as a time tested method to help consumers get back on their feet when in financial distress.
Guimond has given numerous speeches including those to the Congressional Black Caucus Foundation and the Illinois Department of Financial Institutions encouraging consumers to look for quality licensed credit counseling agencies.
"If families are having difficulties making ends meet or facing financial difficulties, they many want to contact a credit counseling agency for a private and confidential personal budget analysis", said Guimond.
The AADMO web page (http://www.AADMO.org) identifies all licensed or authorized credit counseling agencies that are approved by each respective state.
From these official lists, consumers can get help from legitimate and approved credit counselors. To find a list of authorized agencies published by a state visit http://www.AADMO.org and click on the "Find a Credit Counselor" button.
The AADMO web page links consumers directly with states that publish lists of authorized agencies. Those states that regulate credit counseling agencies but do not have a list of authorized agencies on the web have the appropriate contact information listed. Those states that do not require, or do not publish a list, are indicated with "List of authorized credit counseling agencies not available."
Consumers should note that some states, such as Alaska, Massachusetts and Tennessee do not currently have any license requirements for credit counselors and therefore do not have any list of authorized agencies. Other states, such as Florida, Georgia and Ohio, have laws regulating credit counseling but do not have a license requirement.
California requires that non-profit credit counseling agencies file for an exemption to licensing rather than obtain a license. Washington, D.C. repealed its laws and Washington State abolished its license requirement.
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.