The American Association of Debt Management Organizations (AADMO), the largest trade association for the credit counseling industry, today released its "National Survey of Debt Management Organizations". The national survey was conducted by the Baumann Moreau Consulting Group of Tampa, Florida and analyzes credit counseling industry specific sales trends, client volumes by region, agency size, client volume size, portfolio valuations, client life spans, compliance expense, client acquisition and development costs and fair-share receipts.
Philadelphia (PRWEB) July 30, 2009 -- The American Association of Debt Management Organizations (AADMO), the largest trade association for the credit counseling industry, today released its "National Survey of Debt Management Organizations".
The national survey was conducted by the Baumann Moreau Consulting Group of Tampa, Florida and analyzes credit counseling industry specific sales trends, client volumes by region, agency size, client volume size, portfolio valuations, client life spans, compliance expense, client acquisition and development costs and fair-share receipts.
The purposes of the survey are to help credit counseling agencies differentiate compliance costs based on region, differentiate client acquisition and development costs based on region, differentiate historical prices for client transfers based on region, differentiate fees generated by clients based on region and differentiate "fair-share" reimbursement rates based on region.
Mark Guimond, Executive Director of the AADMO said, "This is the first broad based analysis of the business operations of credit counseling. This information is extremely important to anyone in credit counseling that is concerned about the business realities of their agency and the industry as a whole."
"While credit counseling agencies have their important mission of helping financially distressed consumers they also have to run their agencies. Just like any other business they have to worry about revenue and expenses. Having comparative data to others in the same industry will be enormously helpful to create benchmarks and measure performance", added Guimond.
This National Survey of Debt Management Organizations was compiled by AADMO as a service to the credit counseling industry. AADMO publishes this data for informational purposes only and disclaims any attempt to directly or indirectly suggest appropriate pricing levels or amounts for industry members. AADMO complies strictly in all respects with federal and state antitrust laws in the collection, dissemination and use of this data. To this end, AADMO cautions users of this study that it is illegal under the antitrust laws for two or more industry members to agree directly or indirectly on specific prices to be paid, or other terms and conditions to be offered
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.
ABOUT BAUMANN MOREAU CONSULTING GROUP
Baumann Moreau Consulting Group is an international valuation firm that regularly is engaged in the valuation of businesses and their securities in connection with mergers, acquisitions, corporate restructurings, negotiated underwritings, and private placements.
BMCG provides forensic analysis and expert witness testimony for litigation purposes throughout the United States for matters involving commercial damages, lost profits, fraud, and shareholder disputes. BMCG's reports are used to comply with statements issued by the Financial Accounting Standards Board (for example FAS 123, 141, 142, 157) and for presentation to the Internal Revenue Service.
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