How to Counsel Debt in Oregon
- 1). Invest in a financial education at the college level if you have not already done so. This is the normal course of study for those entering the financial counseling field, and you will not have strong credibility without it. This education must be completed at an institution of higher learning recognized by the State of Oregon. Those with a law degree are also allowed to practice in the financial field, provided financial counseling is their primary area of legal expertise.
- 2). Register with the Oregon Division of Finance and Corporate Security by filing Form 440-4858 Debt Management Service Provider Registration Application. It is an easy-to-follow, four-page form that covers all the steps and prerequisites necessary to register.
- 3). Complete a financial and criminal background check conducted by the Division of Finance and Corporate Security. This investigation checks you and any employees who also counsel debt for the firm you are registering with the state. The necessary information is included in Form 440-4858.
- 4). Acquire surety bonding in the amount of $25,000 as required by The Oregon Department of Consumer and Business Services as of 2010.
- 5). Practice debt counseling according to Oregon regulations. Debt counseling services are regulated and you will find provisions in State Statutes, sections 697.602 to 697.842 regarding practices that include fee amounts and percentages to be taken on debt reduction.
