Tools commonly used in the Debt Adjusters industry for day-to-day tasks and operations.

• Debt management software
• Credit counseling software
• Financial analysis tools
• Budgeting software
• Customer relationship management (CRM) software
• Negotiation skills
• Communication skills
• Legal knowledge
• Financial planning tools
• Debt settlement software

Common products and services typical of NAICS Code 812990-13, illustrating the main business activities and contributions to the market.

• Debt consolidation services
• Credit counseling services
• Debt management services
• Debt settlement services
• Financial counseling services
• Debt relief services
• Debt negotiation services
• Debt reduction services
• Debt restructuring services
• Debt repayment services

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Certified Debt Specialist: This certification is offered by the International Association of Professional Debt Arbitrators (IAPDA) and is designed for professionals who work in the debt relief industry. It covers topics such as debt settlement, credit counseling, and bankruptcy. The certification requires passing an exam and completing continuing education courses.
• Certified Credit Counselor: This certification is offered by the National Foundation for Credit Counseling (NFCC) and is designed for professionals who provide credit counseling services. It covers topics such as budgeting, debt management, and credit reports. The certification requires passing an exam and completing continuing education courses.
• Certified Financial Counselor: This certification is offered by the Association for Financial Counseling and Planning Education (AFCPE) and is designed for professionals who provide financial counseling services. It covers topics such as budgeting, debt management, and retirement planning. The certification requires passing an exam and completing continuing education courses.
• Certified Student Loan Professional: This certification is offered by the National Institute of Student Loan Advisors (NISLA) and is designed for professionals who work with student loan borrowers. It covers topics such as loan repayment options, forgiveness programs, and consolidation. The certification requires passing an exam and completing continuing education courses.
• Certified Receivables Compliance Professional: This certification is offered by Receivables Management Association International (RMAI) and is designed for professionals who work in the debt collection industry. It covers topics such as compliance with state and federal regulations, ethical practices, and consumer protection. The certification requires passing an exam and completing continuing education courses.

A concise historical narrative of NAICS Code 812990-13 covering global milestones and recent developments within the United States.

• The debt adjusting industry has been around for centuries, with the first recorded debt adjusting firm established in the UK in 1692. Debt adjusting in the early days was a simple process of negotiating with creditors on behalf of debtors. In the US, the industry started in the early 1900s, with the establishment of the National Association of Credit Men in 1896. The association was formed to help businesses collect debts and provide credit information. Debt adjusting firms started to emerge in the US in the 1920s, with the first firm, Retail Credit Company, established in 1926. The industry has since evolved, with the introduction of new technologies and regulations. In recent years, the industry has faced challenges due to the economic downturn and increased competition from debt settlement companies.

The anticipated future trajectory of the NAICS 812990-13 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The debt adjusters industry in the USA is expected to experience growth in the coming years due to the increasing levels of consumer debt. The industry is projected to benefit from the growing demand for debt relief services as consumers seek to manage their debt and improve their credit scores. Additionally, the industry is expected to benefit from the increasing use of technology to streamline debt management processes and improve customer experience. However, the industry may face challenges from regulatory changes and increased competition from other debt relief providers. Overall, the debt adjusters industry is expected to experience moderate growth in the coming years.

Recent groundbreaking advancements and milestones in the Debt Adjusters industry, reflecting notable innovations that have reshaped its landscape.

• Debt Settlement Software: Debt adjusters are increasingly using software to streamline the debt settlement process, making it faster and more efficient.
• Online Debt Management Tools: Many debt adjusters are now offering online tools to help consumers manage their debt and track their progress towards becoming debt-free.
• Debt Consolidation Loans: Some debt adjusters are now offering debt consolidation loans to help consumers pay off their debt more quickly and at a lower interest rate.
• Mobile Apps: Debt adjusters are developing mobile apps to make it easier for consumers to manage their debt on the go.
• Personalized Debt Management Plans: Many debt adjusters are now offering personalized debt management plans that are tailored to each individual's unique financial situation.
• Debt Education Resources: Some debt adjusters are now offering educational resources to help consumers better understand their debt and how to manage it effectively.
• Debt Relief for Medical Debt: Some debt adjusters are now offering debt relief specifically for medical debt, which is a growing problem for many Americans.
• Debt Relief for Student Loans: Some debt adjusters are now offering debt relief specifically for student loans, which are a major source of debt for many Americans.
• Debt Relief for Tax Debt: Some debt adjusters are now offering debt relief specifically for tax debt, which can be a major burden for many consumers.
• Debt Relief for Small Businesses: Some debt adjusters are now offering debt relief specifically for small businesses, which may struggle with debt due to cash flow issues or other challenges.