In 1997, the nonprofit Money Management by Mail was
formed through the alignment
of six consumer
credit counseling agencies seeking to more effectively leverage their decades
of combined experience and expertise.
With the overwhelming growth
of consumer debt, two more organizations were
formed to control the
credit counseling industry - the «Association of Independent Consumer Credit Counseling Agencies» and the «American Association of Debt Management Organizations.&
credit counseling industry - the «Association of Independent Consumer Credit Counseling Agencies» and the «American Association of Debt Management Organizatio
counseling industry - the «Association
of Independent Consumer
Credit Counseling Agencies» and the «American Association of Debt Management Organizations.&
Credit Counseling Agencies» and the «American Association of Debt Management Organizatio
Counseling Agencies» and the «American Association
of Debt Management Organizations.»
In other words, some creditors, like the banks, give money back to the
credit counselling agency each month in the
form of a tax deductible donation to help support the
agency.