Leading association for the debt settlement industry expanding its support of consumers who are struggling financially
WASHINGTON — Consumer Debt Relief Initiative (CDRI), the leading national trade association for the debt settlement industry, is launching a financial literacy program to support consumers across the nation who are either struggling or recovering from personal financial distress. Announced during National Financial Literacy Month, this program will be designed and implemented throughout the next 12 months, underscoring CDRI’s commitment to help lead industry efforts that strengthen the support of the communities they serve.
Nearly six in 10 Americans have less than $1,000 in a savings account, according to GOBankingRates’ 2021 savings survey. Yet industry data indicates the average debt settlement customer saves more than $3,000 in 18 months to settle their debt. While the industry already provides financial literacy support to customers, this new program will augment existing offerings with a no-cost financial literacy option for those who may not need to enroll in a debt settlement program, while also targeting graduates to ensure they avoid similar challenges in the future.