Posted March 02, 2015 by

Find a Great Career as a Debt Counsellor in Debt Relief Companies

Mid-adult couple meeting with financial planner

Mid-adult couple meeting with financial planner. Photo courtesy of Shutterstock.

Debt relief companies help people in financial distress, to get rid of the burdensome debts. They are credit advocates helping people in improving their financial status. They basically conduct financial consultations in an attempt to educate the consumer and suggest appropriate remedies. Their core services are aimed at offering an alternative to credit counseling, bankruptcy and debt consolidation. Their chief role is to represent the consumer and become his advocate, while restoring financial stability at the earliest possible. Debt relief companies are looking for smart, compassionate and energetic individuals as debt counsellors for helping all those Americans who are in financial crisis, with individual customer service, education, and of course, debt relief.

Role of a Debt Counsellor

A debt counsellor deals with a portfolio of clients providing them with emotional and practical support for managing complex personal debt issues. Debt counsellors are expected to provide advice and practical help to clients who are neck deep in debts. They advise on issues including bankruptcy, financial planning, budgeting and money management. Debt counsellors are involved in liaising with creditors on the clients’ behalf and extend legal advice and help them with legal proceedings. Their focus is primarily on giving emotional and moral support to the distressed clients who are under major stress due to the financial crisis. They are supposed to boost the clients’ morale.

Some More Responsibilities of a Debt Counsellor

Their primary responsibility is to liaison with clients regarding their current debt situation. They are required to assess clients’ monthly income along with their expenditure. They are expected to interact with the client and understand the priority payments. They are supposed to come up with monthly payment plans that the clients are required to follow. They need to keep the channel of communication with the clients open all the time particularly when their debt situation alters. Their scope of work includes following up late payments and doing extensive paperwork with the clients. Another major responsibility of a debt counsellor is to liaison or negotiate with creditors so that he can organize realistic repayments for his clients. He manages relevant paperwork and all financial documents. The job also entails educating the clients so that relevant benefits can be accessed by them easily.

Necessary Skills for the Job

Excellent communication and administrative skills are the basic prerequisites for this job. A basic knowledge of computers and proficiency in office software is an added qualification. He should possess excellent negotiation skills as he needs to negotiate constantly with creditors. He should have good organizational skills. He should possess adequate knowledge about debt and money matters. He should have respect for client confidentiality and an eye for detail.

Qualifications

No precise qualifications are needed for becoming a debt counsellor however, a degree is an added advantage. Many debt relief companies would ask for a degree in any relevant field including finance, accountancy, psychology or social work. A relevant course on debt advice and debt management could prove to be more helpful. Knowledge of a foreign language would be an added qualification.

Work Experience

It is more important to have some work experience in the relevant field than formal qualifications. Experience in some voluntary organization or debt counselling charities could be an added advantage. Having some professional experience in a field related to finance, such as a debt recovery role or a bank cashier, can come in handy as well. Sound computer knowledge and professional background in an administrative role will prove to be useful.

Employers

Debt counsellors have great opportunities in debt relief companies. There are various openings in debt relief companies and they rely on debt counsellors.

Author Bio: Jeff Keane is an expert career counsellor who has spent the better part of the last decade guiding students and job aspirants to find appropriate careers based on aptitude and interest. Job aspirants are suggested to visit https://www.nationaldebtreliefprograms.com to know more about career prospects in a debt relief company.

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