Registration as debt adviser

Requirements to register as a debt adviser

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I volunteer with  a charity and a large number of problems are as a result of debt. At present we refer clients to CAB. I would like to use my accounting skills to offer some advice to the client.Does anybody have any experience of registering with FCA/ Money advice service ? A lot of information on web is provided by member organisations and reading the bump it seems to me that I have the knowledge to provide advice without further study. Appreciate advice and comments.Many thanks.

 

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By paul.benny
25th Jan 2021 08:51

My advice is Don't.

I've volunteered with Citizens Advice and, with respect, there is so much more to personal debt counselling than accounting skills.

Do you know what bailiffs can and can't do? and the difference between a bailiff and a recovery agent?
Do you know when a Debt Relief Order would be appropriate? Or how to go about getting one?
Have you experience of negotiating with creditors - landlords, local authorities (council tax), utilities?

Citizens Advice, Step Change, Christians Against Poverty and National Debtline do this sort of thing as a core activity. They have depth of resources, expertise and are trusted by creditors. Leave it to them.

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By Tosie
25th Jan 2021 09:16

Thanks Paul. I have experience of all the points raised and have extensive experience dealing with personal insolvencies

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By paul.benny
25th Jan 2021 11:04

Fair enough. Probably showing more about how limited my knowledge was before I started giving the most basic debt advice.

I can't comment on the registration process.

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By Tosie
25th Jan 2021 11:26

Thanks for thoughts and advice.

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