Training as a debt advisor

[johnnybriggs]

He probably keeps having to stop for a little cry.


I'm only jealous. My team went into liquidation last month and will start next season at the very bottom of the football pyramid which I think is Division 2 of the Vodkat league!!

[ivas4us]

just a bit strange he has not posted.

[Skippy]

What team do you support Johnny?

Going back to the DRF BTEC, that's something I would be interested in doing - maybe next year when my IPA finishes and I've got some extra money!

[GinSkipper]

I'm only jealous. My team went into liquidation last month and will start next season at the very bottom of the football pyramid which I think is Division 2 of the Vodkat league!!

Johnny, I thought you said you had no interest in corporate debt advice [:D] ?

[johnnybriggs]

Thats a very good point - if only I'd studied harder! I find liquidations totally arcane and weird.

Carlsberg brewery tried to wind up Darwen FC in 2003, a local radio station tried in 2008 and then Thwaites brewery finally managed it this year

Actually the story of Darwen FC is amazing, they hold several records for massive defeats (11-0 to Arsenal in the 1932 FA cup I think was the biggest) I think they hold the record for longest run of defeats and they could proudly claim to be one of the worst ever teams in the football league and now after 140 years they have been put out of their misery in the High Court over a debt of £9000 which wouldn't even pay a Blackburn Rovers player for a week.

[Skippy]

I do wish the big teams would put money into non league football. My local club were promoted to the Blue Square South this year and while it's good for them, the extra costs involved could cause them problems.

Good luck to Darwen FC!

[joolsannie]

I have also been looking into the Debt Advisor College, their associated company is LocalDebtAdvisors. It sounds a great opportunity, the only thing that is worrying me is the large payment they want for the college training (£4,000). They advised there are 4 modules and would include 2 days at college for each module and the rest of the training you do at home. They also promise 2 leads a week for the 1st year after you complete your training. Sounds great!!!!! Can it be too good to be true, I cant afford to lose all that money in a scam, or false promises, or dodgy leads ..... Does anyone know this company?

[kallis3]

Personally I don't think two leads a week is a lot after you've laid out of all that money.

You could always check out some of the companies on the internet and see if they are recruiting debt advisors - you can probably get on the job training.

[Michael Peoples]

I have been doing my job for over ten years and over 70% of our leads are not cases. You need to be able to deal with the rest and give advice so it seems 2 a week is not enough to make a living. If they had 2 proper IVAs a week they could make approximately £1,000 per IVA by passing that lead to an IP so maybe I am cynical in that the leads may not be the best.

[kallis3]

Presumably to get any more business you would have to lay out money on advertising and also a web page as well.

[joolsannie]

Thanks for advice, will take on board all you've said..... gonna check internet now for other training.

[johnnybriggs]

I wouldn't be spending that (or indeed any!) amount of money without first getting good solid practical experience - either through employment or volunteering either of which would give you a taster for free.

[size5]

I would agree with most of what has been said on this thread. I would go slightly further than Michael in estimating that 80% plus of enquiries received do not turn out to be cases where professional help is needed, or more specifically, commercial professional help, but whatever the actual percentages are, the point remains the same.

As for training, well I personally would still say that there is no substitute for life experience if you wish to follow a path in providing debt solutions, however it is not an absolute pre requesite. On the job training is provided by a lot of debt resolution firms, thereby avoiding the need for paying for training, but if you do have some experience already, maybe voluntary as suggested, then you are in a stronger position obviously when it comes to looking for work. When I started out (during the war, as Uncle Albert would say!!) I had no experience in this field at all, although I had worked as a manger for a loan company so I wasn't completely green, I learnt on the job as I went along. It isn't a bad idea to look at maybe an admin role, if you are suited to it, and if you have an aptitude for actual one to one advice then it will certainly be picked up on very quickly by any firm worth its salt.

Be aware,though, that not everyone is cut out for this line of work, but if you are then I can safely say you won't regret it.

Regards.

[Michael Peoples]

It is definitely a rewarding job and there is great satisfaction in having proposals accepted that save businesses, homes and even marriages. My background was in estate agency/financial services and prior to that I was employed by HMRC. I had no insolvency experience but it is not really necessary if you adapt whatever skills you have.

The CAB do take on volunteers and provide training courses but as Size5 says there is no substitute for on the job training. Send your CV to some IP firms or DMP companies and explain what you know about the debt industry and why you are interested. Good luck.

[MelanieGiles]

I've been doing this for nearly 25 years, and I am still learning - so am not sure whether a two week course would be much good. Sounds more like a marketing course rather than a counselling course.