I’m currently studying to become a certified financial planner.
Steve, I first of all want to say thank you for your work helping people find out ways to overcome debt. You truly are making a difference.
My question is, what do you recommend doing or studying in order to incorporate debt counseling in to my financial planning practice?
Sadly I think debt counseling is not directly put forward in the financial planning field (as the subject deals with insurance, retirement planning, investments, estate planning, and tax planning). Furthermore, some of the accreditation processes to becoming a debt counselor are not clearly defined. It just seems like this industry is still in an infancy phase.
Other than reading the many informative articles on your website, what routes do you recommend taking to help more people overcome their debt issues?
The field of debt help and debt relief is a surprisingly tough field to get a good education to help people. Most training classes in credit counseling, debt settlement, and other solutions is mostly focused on qualifying and closing people into the solution.
As a CFP in training you have a good grasp on the math of debt. I would suggest you participate as much as possible in answering questions here on this site. You’ll learn a lot by doing so and I am happy to help point considerations out as you answer questions. Consider it an internship.
Outside of that the one area your training is lacking in is the emotional underlying issues that surround debt. I would suggest you consider training from Karen McCall and the Financial Recovery Institute, click here.
Once you add those skills to your expertise you will be able to do a better job of placing the right solution into the appropriate context the consumer finds themselves in.
What do you think, does that seem like a reasonable approach to you?
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.What is the Best Way to Become a Debt Counselor? - James by Steve Rhode