Using A Debt Management Association

Are there any noteable debt management associations?

Not very surprisingly, the answer is a resounding yes.

In the USA, the American Association of Debt Management Organizations is the leading trade association for credit counsellors, debt management firms, etc. In 2006 the AADMO boasted a membership of over 150 members across the USA.

I don't know about you, but to me, for a nation the size of America, that does not sound like a very large number. This may be for many reasons. It does suggest, however, that many of the smaller firms are not involved in the development of their profession and the rules and regulations that are applicable to them.

A problem with professional bodies of this nature, and this is true across the world, is that they are really geared for the use of their members and not really designed to be helpful to the general public.

However, the AADMO, like most other trade bodies does have an online list of their own members so that you can find a credit counsellor in your state or city to help you.

For most consumers, this is the most important role that they can play: enabling clients to find the better parts of the industry for help quickly and easily. You can find this at: AADMO
Membership of a debt management association usually speaks volumes about the actual member firms themselves. Members will normally have to agree to behave in certain ways towards clients, maintain ongoing professional training for staff members, read or research industry trends and be made aware by the trade association of important changes in laws and regulations.

For a customer who needs assistance and does not know where to turn, finding help through a trade body like this might well be a reliable route to good help. It is likely that debt management association member firms will charge more for their time and services, but they will very likely offer a higher level of knowledge, ability and professionalism as well.