Tuesday, 09 February 2010 15:51
Debt Counselling appears to be among the fastest growing industries in SA at the moment.
There are currently 1510 registered Debt Counsellors in SA and we see new Dc's every day. Becoming a Debt counsellor is relatively simple, one attends a 5 day training course costing about R5 000, you then submit information to NCR for registration. This takes about 6 - 8 months.
Once you are registered you then can trade as a DC, unfortunately the training course is totally insufficient to prepare one for the complex financial and legal issues in the business.
Do we even need more DC's? Of our population of around 42 Million, South Africa has about 17.6 million ACTIVE consumers, i.e. people who use credit.
Of those 41.7% are in arrears, this means that 10.9 Million people are over indebted.
So 10.9 Million need help and we have a total of only 150 000 currently in debt review, this figure is currently growing by 10 000 per month.
So in South Africa right now we have about 1510 registered Debt Counsellors and about 10 Million people needing help.
Good business to be in, IF you can find the knowledge to open a practice and if you have the stomach for very tedious and complex work, not to mention the tons of paperwork you will be buried under.
It's definately better to join an existing franchise group who can get you up and running quickly and efficiently. Remember if you cause a client to lose a house or car because of negligence you could personally be held responsible?
Anton is a a senior Debt Counsellor for the DEBTSMART group. He consults as a debt counsellor a training provider and develops systems for the debt counselling industry.
http://www.becomedebtfree.co.za or http://www.debtsmartsa.co.za for franchise help
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