High Income as a Debt Advisor ?

Boggled
Boggled Posts: 8 Forumite
in Boost your income
Hi all,

I have seen an advert in The Sun newspaper to become a debt advisor with national debt advisors.

After going thru there website I have seen that there is a £3000 fee to become part of there franchise.

Has anyone had experience with them ? From first impressions it looks very appealing, but is it an ethical career move or the next fly by night franchise rip off ? Could I train to be a debt advisor without having to pay the £3k fee for the one day training course?

Any feedback or thoughts would be great.

:confused:
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Comments

  • Amber_Sunshine
    Amber_Sunshine Posts: 1,741 Forumite
    I suspect that they are one of those companies that promises you can reduce your monthly debt payments, but forget to mention that you will be extending the life of the loan, and paying them huge fees so that you are actually paying less off your debts.

    I wouldn't want to be involved in such an enterprise. Plus 3K is a LOT of money.
  • Sooler
    Sooler Posts: 3,108 Forumite
    First Post First Anniversary Combo Breaker
    Who pays for debt advice? :confused:


    Can't see you getting many customers
  • Sooler
    Sooler Posts: 3,108 Forumite
    First Post First Anniversary Combo Breaker
    Boggled wrote: »
    Could I train to be a debt advisor without having to pay the £3k fee for the one day training course?

    Yep, you could train properly and provide a service of some value.

    What are you going to learn in day that's worth 3K :confused::confused::confused:

    No one with any sense would seek the advice of someone who's only has one days training.
  • skylight
    skylight Posts: 10,716 Forumite
    First Post First Anniversary Combo Breaker Home Insurance Hacker!
    Us "self-trained" souls on DFW and BR boards, who have been posting for several years and are fonts of knowledge, would not dare to presume we were sufficiently trained to become debt advisors. Friends and family and other posters trust our judgement but we would always recommend them speaking to a trained professional. And National Debt Advisiors (spit....) are not on our list of reputable professionals....

    £3k for a days training? And for a firm that is morally dubious (sell IVA's to those that cannot pay them for example, to make money).

    Its not something I would recommend nor would I work for them. But I have morals. (surprisingly! LOL!)
  • LilacPixie
    LilacPixie Posts: 8,052 Forumite
    Sounds like you would be paying 3k to learn how to sell an IVA or debt managment plan to people who are already struggling financially.

    If you truely want to help people and gain experience and training for free volenteer with your local CAB.
    MF aim 10th December 2020 :j:eek:
    MFW 2012 no86 OP 0/2000 :D
  • Rolandtheroadie
    Rolandtheroadie Posts: 5,102 Forumite
    Name Dropper First Post First Anniversary
    Go on an open university life coach course. Around £360 and it's probably much the same client base.
  • Boggled
    Boggled Posts: 8 Forumite
    Thanks all for your input, I get the picture. Sounds Like I'd basically be preying on desperate souls to make money. Not something to be proud of !

    On first look I thought I could make an decent income by helping others, not adding to there woes. I'll steer well clear ! Thanks again to all
  • Msperky
    Msperky Posts: 4 Newbie
    Hi there,

    I have had a similar experience where I ended up replying to an advert seeking trainee debt advisors. I went along to their interview, took personal and aptitude test after an hour and half of going through my CV and training schedule. You can do their Fast Track courses in 5 to 6 days or 8 weeks or even 6 months depending on how soon you wish to become qualified. All sounded good up until they said the course would cost me £4150 including VAT.

    Having seen this post on the forum, thought of adding my experience as well. They claimed that you could earn between £125 to £1000 a week. After completion of the course, there is apparently guaranteed work..I am very spectical about this and paying upfront fee of £4000K to be qualified.
    I am glad i didn't..

    cheers
  • OrkneyStar
    OrkneyStar Posts: 7,025 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Training to become a Debt Advisor may cost that amount but you would not be expected to pay that up-front, your employer should pay for your training etc when there is a real job available.
    Ermutigung wirkt immer besser als Verurteilung.
    Encouragement always works better than judgement.
  • pjharding
    pjharding Posts: 1 Newbie
    Had intervew Thursday,now know to keep my cash in my pocket.Cheers!
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