AADR - American Association for Debt Resolution

New Jersey lawmakers may soon consider legislation related to debt resolution. Here are just a few reasons why they should support it. Holiday driving season is approaching and, with that, car repairs. These days, a broken fuel pump can run more than a grand, and replacing an engine? That is about $10,000. If celebrating quietly at home is sounding good, you may be one of the tens of millions of Americans who do not have enough savings to cover an unexpected $1,000 expense. For these families, when adversity strikes, credit cards often are the only way to make ends meet, and balances can sometimes spiral, but there is help, and hope. When unsecured debt gets out of control, debt resolution providers could help struggling New Jerseyans to reduce their debt — if the state did not statutorily prohibit this service. All New Jersey’s neighbors, and most other U.S. states, permit debt resolution providers to operate, but the Garden State has not updated its law since the 1970s. Senate Bill 1310, which the state Senate could soon vote on, would give residents the same rights as neighbors in Philadelphia or New York. Read our CEO Denise Dunkel Morse’s op-ed in NJBIZ that explains why this piece of legislation is so crucial: https://lnkd.in/eGV8RNU7 #debtresolution #debtrelief #NJSenate #unsecureddebt

October is Economic Education Month and AADR is pleased to continue to support the Council for Economic Education, or CEE. A national nonprofit, CEE’s mission is to equip K-12 students and their parents or guardians with the knowledge and tools to make better decisions for themselves, their families, and their communities. AADR members have contributed $16,000 for CEE this year, and AADR has pledged an additional $25,000. Additionally, 60 people joined the Bourbon Tasting Fundraiser at our 2024 Annual Conference. This event raised an additional $6,750 for CEE.  Fifteen conference attendees also volunteered at the CEE Family Financial Fun Night at John Park Elementary School during our conference. These volunteers shared their financial literacy knowledge with more than 70 participants, which included students and their families. The event was a huge success and CEE has received a lot of positive feedback about our volunteers. Thank you! Please join our efforts by contributing at the link below. Our partnership will support: Year-round professional development opportunities, including training for teachers new to the subjects of financial literacy and economics; CEE’s annual educator conference, which reaches approximately 500 participants each year and provides teachers with tools and lessons they can bring back to their classrooms; CEE’s National Personal Finance Challenge, a nationwide competition that offers high school students an exciting way to build and demonstrate their own financial literacy skills, and Other advocacy efforts and events like the FinEd50 coalition, which works to enact personal finance graduation requirements in all states. Like AADR, CEE hopes for bright financial futures for today’s young people, where they can confidently navigate the financial tools and resources available to them. Thank you to these companies who have already stepped up: Beyond Finance, DMB Financial, Forth, Inc., Global Holdings, Greenwise Financial, and JG Wentworth. Give now: https://lnkd.in/eB3jxPMD #EconomicEducationMonth #economiceducation #financialliteracy #finlit #debtrelief #debtresolution

Hispanic Americans play an increasingly vital role in the U.S. economy. While Latinos make up about 20% of the overall population, they represent 25% of all new small business owners. According to Arizona State University’s W.P. Carey School, Latinos are the fastest-growing contributors to the U.S. economy, are quick to join the labor market, and are responsible for $3.2 trillion of the nation’s gross domestic product. While Hispanic Heritage Month is an opportune time to celebrate these achievements, it is also important to remember that, as a whole, Latinos are not as well off as other groups. According to the Federal Reserve’s latest report on the economic well-being of U.S. households, for example, more than one-quarter of Hispanic adults, 27%, could not pay all their monthly bills. That figure compared to 11% of White adults. Hispanic adults also were more than twice as likely than Asian adults to carry a balance on their credit card. Juan Carlos Guilbe, financial advisor and certified debt specialist, acquired Debt Freedom USA in 2018 and with these challenges in mind, he transformed the firm into one that exclusively serves his fellow Hispanic Americans. “I wanted to assist my community,” he said. “But I didn’t want to just provide debt relief solutions. I also wanted to help educate people about personal finance and how to stay out of debt.” Today, anyone in need of financial advice can call Debt Freedom USA and find an expert willing to help. Guilbe and his team also have found other creative ways to provide financial healing in the Hispanic community.  Learn more in our latest blog post: https://lnkd.in/g2kv55BR #HispanicHeritageMonth #debtresolution #debtrelief #financialservices 

That’s (almost) a wrap! Our 2024 Conference ends today and it has been a huge success. Thank you to everyone who attended and an especially HEARTY THANK YOU to our generous sponsors!  Please join the team at AADR in giving a shout out to: Diamond Sponsor: Global Holdings Platinum Sponsors: - CFTPay Powered by Priority - Greenspoon Marder LLP - National Debt Relief, LLC Gold Sponsor: Achieve Silver Sponsors: - Bulldog360 - Full Circle Financial Services - Loop Marketers - MaxDecisions - Rescue One Financial - Spinwheel Bronze Sponsors: - Complete Legal Plan - Corporate Advisory Solutions, LLC - Fortress Legal Plan - Greenwise Financial Solutions - Kredit® - LendingUSA - National Data Systems - Reliant - Tax Pro Resolvers By providing resources for this conference, and at a time when American families need it more than ever, these companies are championing debt solutions for a better tomorrow. Learn more about our whole community here: https://lnkd.in/eXYA_g4d  #debtresolution #debtrelief #eventsponsorships 

Finding and keeping good talent is more difficult than ever. We can help! Join AADR’s 2024 Annual Conference, set for Sept. 23-25, 2024 at the Four Season Las Vegas, to hear about best practices and new ideas for talent retention. We will welcome Uneeka Jay, president, Rewrite365. The demanding nature of the debt settlement industry means employee retention is more challenging than it is in other customer-facing industries. Clients’ stress can be our stress! Jay’s keynote will provide actionable retention strategies specifically tailored to our industry's unique stressors and demands. Attendees will gain insights into effective stress management techniques, the importance of career development, and how to build a positive, resilient workplace culture. Register here: https://lnkd.in/e3F5mPzv   #debtresolution #talentdevelopment #employeeretention

ICYMI, our Head of Compliance sent out a reminder last week about the implementation deadline for AADR’s new Uniform Disclosure Statement. To recap why members got this alert: 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 had 90 days, or until September 24, 2024, to implement the updated UDS. AADR has made 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 Standards Committee also reviewed the Third-Party Policy and made minor edits to bring greater clarity in a few areas. There are no material changes to the policy, however. 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. If you do not yet have an account for “The Hub” and IF YOU HAVE A MEMBER COMPANY EMAIL, create an account using this link: https://lnkd.in/eRG2nHvQ #debtresolution #consumerprotection #debtsettlement

The American Association for Debt Resolution is committed to helping you grow your business and better serve your customers. That’s why we’re so excited about the BREAKOUT SESSIONS for AADR’s 2024 Annual Conference. Join us Sept. 23-25, 2024 at the Four Seasons Las Vegas! Here’s a peek at our just a few of our BREAKOUT sessions: - CAPITAL INVESTMENT: The landscape for capital raising activity has changed in a big way. Hear from capital investors at Piper Sandler & Co. and Corporate Advisory Solutions who will share context around  what investors care about and how they think. - CONSUMER COMPLAINT RESOLUTION: Michelle Marin from the Better Business Bureau, will discuss the BBB’s mission, best practices for addressing consumer concerns, the importance of effectively resolving complaints, and complaint trends in debt relief. - CONSUMER WELLNESS: What are the challenges facing debt resolution companies? How can you tackle them? Can these strategies benefit consumers and the business? Our expert panelists, including Natalia Brown from National Debt Relief, will discuss that and more. Want to learn about our other breakout sessions? Check out our full agenda and then register: https://lnkd.in/eNsTqNwS #debtrelief #debtresolution

REMINDER: The September 24 implementation deadline for the new AADR Uniform Disclosure Statement is fast approaching. This updated Uniform Disclosure is designed with the consumer in mind – bringing greater clarity in a tighter format. You can find the updated form in multiple languages, implementation guidance, scripts, and audio files on the AADR Hub. To recap, please remember the requirement is two-fold: first, delivery of the updated written Disclosure Statement which must continue to be separately signed by each client, and, secondly, verbally disclosing the entirety of the Disclosure Statement to each client during the debt consultation experience prior to execution of any enrollment agreement. Thank you to all AADR members and to the Standards Committee who provided input on the updated UDS. The final UDS reflects your input, and because of your partnership we were able to reduce the length and legalese while preserving the most important points for consumers. We are 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. If you have any questions or concerns, please contact Stacey Silva, or long onto The Hub for more information: https://lnkd.in/eQTrAQ-U #debtrelief #debtresolution

Your relationship with your clients does not end after their debts are settled. How can you continue to serve them? We’ll consider that question at AADR’s 2024 Annual Conference, set for Sept. 23-25, 2024 at the Four Season Las Vegas. Castleigh Johnson, founder and CEO of My Home Pathway, will be on hand to discuss how your firm can provide clients with tools to responsibly unlock the dream of homeownership. This exclusive workshop will equip you with the knowledge and tools to help your clients transition smoothly from financial recovery to becoming a homeowner. Topics will include: - The benefits of homeownership: how your clients can build equity, stability, and a lasting financial foundation. - Rebuilding credit for mortgage qualification: Strategies to strengthen credit score post-debt relief. - Budgeting for homeownership: How to manage finances effectively with a mortgage payment. - The home buying process: Gain insights into navigating the journey from pre-approval to closing. Register NOW to join us later this month: https://lnkd.in/eNsTqNwS   #debtresolution #debtrelief #debtsettlement #FinancialFreedom4All

The debt resolution industry is STRONGER TOGETHER! That’s easy to say, but why exactly should you join our community? Because by becoming a member of the American Association for Debt Resolution (AADR), you and your employees and customers gain: - Representation at the state and federal level on issues that face the industry; - A community of business leaders working to move the industry forward; - A voice in helping the industry remove barriers to make doing business easier; and - Access to data and insights, AADR events and conferences, and promotional and educational resources. Bottom line: the American Association for Debt Resolution supports the companies responsible for helping millions of Americans reduce their debt in a way that’s right for them and move forward to a better financial future. Join us: https://lnkd.in/e7UYtNXk #debtresolution #debtrelief #debtsettlement #FinancialFreedom4All