AADR - American Association for Debt Resolution

In a new blog post, our CEO Denise Dunckel Morse reminds readers that consumers have few options to recapture financial freedom. Most Americans who seek the help of a debt resolution company have fallen on hard times due to no fault of their own. They are taking care of a loved one, out of work, or dealing with a major illness and just could not keep their budgets in balance, much less save. By the time a consumer reaches out to a debt resolution provider, they are typically delinquent on at least one, and, frequently, most, of their credit cards. They owe tens of thousands of dollars to multiple unsecured creditors, including credit card issuers, medical debt servicers, and private student loan providers. Importantly, AADR members’ clients are not looking for an easy way to skip their bills. In the midst of significant financial hardship, they are committed to resolving their obligations in whatever way they can. Debt resolution offers a way of meeting what many regard as a moral obligation: the opportunity to pay something, if not everything, in a dignified and economically reasonable manner. These Americans deserve help and a path back to financial freedom. Unfortunately, there are few options available to them. Bankruptcy is one path, of course, but the long-term financial consequences of filing bankruptcy are significant and can substantially limit the future economic opportunities of the filer for up to a decade. And there is another problem, too: Many consumers cannot meet the means test of the bankruptcy code. Bankruptcy may be appropriate for a certain set of families who are in acute financial hardship and credit counseling may be appropriate for others, but it is not right for everyone. For Americans whom it is not, debt resolution can provide a path back to financial freedom — and it is a path where they are always in control. Learn more by reading Denise’s full post: https://lnkd.in/gQwhivg7 #debtresolution #debtsettlement #financialfreedom

The AADR Standards Committee periodically reviews existing AADR standards, policies, forms, and accreditation requirements and may recommend to the AADR Executive Board enhancements or amendments it believes are appropriate in order to do what is right for consumers, adhere to sound business practices, and conform to the current legal and regulatory environments. With this mandate in mind, the committee reviewed, and the Executive Board approved, an updated AADR Uniform Disclosure Statement (UDS), which is central to a consumer’s understanding of the commitment they are about to make when entering a debt resolution program. The updated UDS is streamlined and more consumer-friendly, and the changes will ensure it continues to serve as a cornerstone of the commitment debt resolution companies make when they lead the industry with consumers in mind. AADR member companies have 90 days, until September 24, 2024, to implement the updated UDS. For our members, AADR is making this important statement available in English, Spanish and Vietnamese and providing several tools that will help with implementation, including approved audio files and a script for members to use during the consultation experience. Also, there are written clear implementation guidelines that will help member companies understand AADR’s expectations and smoothly transition to using this updated UDS. The updated documents and supporting materials can be downloaded by signing onto the AADR member portal, “The Hub,” and going to the Compliance and Accreditation section: https://lnkd.in/eQTrAQ-U #debtresolution #debtrelief #consumerprotection

SAVE THE DATE! AADR will open registration for its 2024 Annual Conference the week of July 8. Stay tuned for details, but here are a few things to help you prepare so you can be ready to register in a two weeks: - WHEN: September 23-25, 2024 - WHERE: Las Vegas, Nevada - WHY REGISTER ON JULY 8: Because we are offering a great discount! Five or more participants from the same company will be discounted by 10 PERCENT!! Interested in sponsoring? Get in touch with karin@aa4dr.org. Here are just a few reasons we think you should ACT QUICKLY to join us THIS SEPTEMBER: Better Serve Your Customers Rates of unsecured debt are at record levels and credit card interest rates are topping 20%. Families are struggling. Come to share the BEST PRACTICES that help your company help Americans struggling with unsecured debt. Learn About New Tools And Innovations At our EXHIBITOR SHOWCASE, you’ll be able to get the latest intel from the companies that support our industry. You’ll have plenty of time to visit representatives from the companies during built-in session breaks. Get The Latest Industry Intelligence One of the most important reasons for attending the AADR Annual Conference is to get the latest updates affecting the debt resolution industry from panelists, policy experts, and professional speakers. Our agenda will be PACKED! Bookmark this link and watch your inbox for registration information: https://lnkd.in/ehcdEPYF #debtresolution #debtrelief #debtsettlement

We are excited to announce that the @AADR relaunch has been selected as a finalist for the Ragan Communications and PR Daily Social Media and Digital Award for Website Redesign! We are grateful for this distinction and eagerly await the final results!

Why is debt resolution important? Consider this: the people and families who typically finds themselves in need of the services AADR members provide, are typically delinquent on at least one – and, frequently, most – of their credit cards or other unsecured debts, and owe, on average, about $30,000 spread across seven or more different creditors. These consumers have been robbing Peter to pay Paul for months or even years – paying late or becoming delinquent on some debts to keep on top of others, charging medical debt on credit cards to put an end to aggressive collections efforts – and have reached a point at which they are no longer able to continue juggling their high-interest, unsecured debt burdens. Independent studies published since the promulgation of the FTC rules have found that debt resolution, on average, saves consumers between 30 and 35 percent of their total enrolled debt levels – including fees. And, importantly, under the Federal Trade Commission rules, debt resolution customers have the right to reject any proposed settlement at any time, for any reason. Need help? Learn more and find a providers on our site: https://aa4dr.org #debtresolution #debtrelief #unsecureddebt

Looking for AADR’s new Marketing and Advertising Standards? Want the latest on key advocacy efforts? Or just want to know how to become more involved in AADR? You can find all that information, and more, on AADR’s members-only portal, “The Hub.” If you are an employee at a member company, you should have received an email with your unique login credentials. Reach out to info@aadr.org if you need it, or if you would like to add people to the list for access. Located under the “Membership and Accreditation” tab on our website, “The Hub” is an exclusive gateway to AADR resources, efforts, and insights once you create your account. We would also love your feedback. What is “The Hub” missing? Like the layout and content, or is it confusing? Tell us! “The Hub” is a dedicated space for you — AADR members — to access valuable resources and stay informed about industry developments. Your feedback will ensure your team gets maximum value out of this tool. We look forward to hearing from you! Log on to view “The Hub” and get in touch: https://aa4dr.org/members/ #debtresolution #debtrelief #debtsettlement

Marketing matters. It sets a company’s persona and is central to how firms connect with consumers. World famous management guru Peter Drucker even proclaimed marketing is “the distinguishing, unique function of the business.” Talk to consumers and lawmakers, though, and you will likely get a very different impression of the marketing profession. Some conjure the slick (and depraved) ad men in the drama Mad Men or recall predatory marketing campaigns that have manipulated vulnerable people into buying products they do not want or need, or even have harmed them. At the AADR, we understand both the importance of marketing, and the skepticism. That is why, for our corporate members — members who are debt resolution service providers — we have set strict marketing and advertising standards that build trust by providing truthfulness, transparency, and totality. Issued this spring, the standards build upon the best practices the AADR previously offered member companies. Those best practices were robust, yet it was time to transform guidelines into expectations companies would need to adhere to as a condition of membership in the AADR. Through these standards, we can restore a sense of calm for Americans in financial distress. We help individuals know that while they may be suffering hardship at the moment, with an AADR accredited debt resolution provider as their partner, they can feel secure about their path out of debt. Read more in a new blog post: https://lnkd.in/eXdSKck7 #debtresolution #debtrelief #marketingstandards #marketing #advertising

In light of last week’s House Energy and Commerce Committee markup of the American Privacy Rights Act (APRA), AADR stressed the importance for consumers and for debt resolution providers of a federal data privacy framework that would provide consistent and uniform privacy data requirements across the country. With the proliferation of digital transactions and the increasing reliance on technology by debt resolution companies that settle nearly $2 billion of unsecured consumer debt annually, it is critical to establish clear and consistent data privacy guidelines that protect consumers and foster trust. “As the debt resolution industry continues to evolve in the digital age, ensuring the privacy and security of consumer data is paramount,” said AADR CEO Denise Dunckel Morse. “A federal data privacy framework will streamline compliance efforts for debt resolution providers and benefit consumers by enhancing data protection measures.” The current hodgepodge of state data privacy laws poses significant challenges for debt resolution providers, who operate across multiple jurisdictions. A uniform federal standard will simplify compliance efforts and facilitate greater consistency in data protection practices. AADR remains committed to advocating for policies that prioritize consumer protection while supporting innovation and competition in the debt resolution space. https://lnkd.in/ef9BirJ6 #debtresolution #dataprivacy #consumerrights

Time and space is running out to register for our West Region Spring Workshop. We will be gathering NEXT WEEK in California, so sign up the link below if you have not yet registered to join us. There are only 5 spots left!! This comprehensive event will equip your team with the latest insights, innovative approaches, and best practices for the evolving debt resolution landscape. Our expert speakers will share their wealth of knowledge, providing invaluable guidance on regulatory trends in the industry, helping you stay ahead in this dynamic market. Specifically, our roundtable series is an essential way to exchange ideas and best practices. We’ll address client retention, how to be more efficient with technology, and where you are hiring the right people to serve your clients. Finally, thank you to all of our generous sponsors: - Greenspoon Marder LLP - CFTPay powered by Priority - Global Holdings - Century Support Services - Rescue One Financial - MaxDecisions - Array - Contact Center Compliance - Forth® - Reliant  - Spinwheel And, of course, to Greenspoon Marder, LLP for co-hosting these events with us. We cannot wait to see you next week. Learn more and register here: https://lnkd.in/emEBAx2J   #debtresolution #debtrelief #unsecureddebt #FairCredit4All #debt #creditcarddebt #medicaldebt

The debt resolution industry is stronger when we work together, so join us at our 2024 West Regional Spring Workshop, “Navigating Strategies for Success in Debt Resolution.” Time is running out to join us June 6-7, 2024 at the Waldorf Astoria Monarch Beach Resort in Dana Point, Calif. Space is limited, though, so get your spots now! Here is just a sampling of the discussions we have on our agenda:   - A roundtable series that will address everything from client and employee retention to digital transformation.  - Remarks from AADR Vice Chair and Greenspoon Marder LLP Partner Robby Birnbaum on debt adjuster states and licensing, hurdles and opportunities for investors and debt relief providers, and rules on receivables. - A panel discussion with experts from Greenspoon Marder, EVVO Financial, Sapphire Direct Inc., and Array who will discuss the data and the credit criteria needed to successfully make a consolidation offer. Don’t get left on the sidelines. Register now: https://lnkd.in/ehcdEPYF #unsecureddebt #debtresolution #debtrelief #debtsettlement #FairCreditForAll