Debt Advisor Business

Graeme7777

Hi,

I am looking for a career change - ideally eventually to start my own business - and I have quite a lot of experience in the financial services industry.

One of the alternatives that I have come up with is starting a small business that helps people struggling with debts to manage the process of becoming debt free. (without, I must add, offering them further loans!)

Do people think that such businesses (as opposed to charities undertaking the same work free of charge) are exploiting people at their weakest even if the business is acting always in the client's best interests? Would people pay for such a service or are they unnecessary as charities offer the same help free of charge.

I promise that I'm not trying to be provocative with this post. I am genuinely trying to find out whether or not my idea is a rotten one and I apologise if I have offended anyone!

RAS

My big question would be, why not work for one of the debt charities?

poppyg_2

On a personal point of view I do think it's a bit unethical to be honest, offering a service knowing full well people can get the same help but for free from elsewhere

Some people do still go the fee paying companies, of which there seem to be a lot out there so I should think there would be a lot of competition for you and sorry but my own view is that (thankfully) people are being made more aware of the debt charities and the free help they give thanks to great sites such as this

I don't think you're likely to get many positive responses on here to be honest so perhaps not the best place to post as obviously what you'd be offering would be fee paying

MrsTinks

So... you want to ask a bunch of people offering debt advice for free if we think it's ok to set up a business doing the same service which we do and charities offer for free?
Seriously... If you did it with the clients best interest at heart you'd nevermake any money and if you did it to make money then you'd be no better than the companies we all loathe that advertise their services on TV etc...
If you want to offer financial support to people in trouble then try to get a job for one of the charities or volunteer for them If you want to make money then I'd suggest another "trade"