Becoming an expert !

[ellie 553]

Hi !
After all my debt problems, and running a small business over the last 5 years, I am considering retraining and starting again.
I would like to find out more about a career as a debt counsellor or advisor to small businesses particularly in the licensed trade / catering sector. I have a lot of practical experience from running my own business, but no qualifications.
A good friend - also an ex restauranteur - is starting up his own consultancy business but has no financial experience. He believes as I do that there is a huge gap in the market for this service.
My question is - what qualifications do you need, what career prospects are there, and is it possible to retrain on the job?
Any advice would be appreciated ![:)]

[Reviva UK]

Hi Ellie
Difficult one because there are really 3 routes

First is the formal route where you have an accountacy or law degree and join a firm and eventually become an IP.

Second is the charity side ( perhaps become an expert on this site) / CAB etc etc but these often prove more challenging with your own mortgage payments.

third is the independent debt solution company. Within this sector ( unfortunately not currently regulated) you can either start your own business ( need to get a CCL. data protection registration, insurance, a brand and a route to market)
or you can join an existing company as an employee, self employed consultant, buy a franchise etc etc.

Perhaps your first step should be to talk / visit a number of the independants and look at the CAB area?

There are a number of independants on the forum and I expect that they would all be happy to spend time with you - I for one would be more than pleased to have a chat. Andy can give you contact details if you need them.

[Soulgrowth]

Hi Ellie ... great to hear from you. How are things going?

I think that having travelled the journey oneself it certainly gives one more understanding and compassion for others in similar situations. I have to say that since I have become involved with this Forum and had to address my own problems I have learnt such a lot. And I feel that this Forum has given me so much that I want to try to put something back into it ... and I know that others, like "Skippy" also feel the same ... so, although the finacial world is not my forte, then I always hope that I can add something to the socio-emotional aspect of this site by being a friendly 'virtual' face ... and hopefully this will help others who are in the same situation as I have been/are.

So ... what I am trying to say is that there's no better way to start than here! [:)]

Debbie

[ellie 553]

Thanks for that ! I am slowly sorting things out - the leasehold is almost sold and we should be able to offer between 60-70% to our creditors as a full and final settlement. This is not going down terribly well with some suppliers at the moment but hopefully it will all settle down once we are sold up and out of the situation.
I would love to help anyone who is having similar problems - you learn so much along the way !

[Soulgrowth]

Good news Ellie ... it all takes a bit of time doesn't it [:)]

Lovely to hear from you ... keep in touch.

Debbie