Career Overview
Advise and educate individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explain loan requirements or restrictions. May help develop debt management plans or student financial aid packages. May advise on credit issues, or provide budget, mortgage, bankruptcy, or student financial aid counseling.
Also Known As
- Certified Consumer Credit and Housing Counselor
- Certified Credit Counselor
- Credit Counselor
- Housing Counselor
Alternate Job Titles
- Accredited Financial Counselor
- Branch Credit Counselor
- Certified Consumer Credit and Housing Counselor
- Certified Credit and Housing Counselor
- Certified Credit Consultant
- Certified Credit Counselor
- Consumer Credit Counselor
- Consumer Lending Manager
- Credit Associate
- Credit Balance Specialist
- Credit Card Specialist
- Credit Counselor
- Credit Representative
- Credit Review Specialist
- Credit Services Representative
What You'll Do
In this role, your typical responsibilities include:
- Calculate clients' available monthly income to meet debt obligations.
- Explain services or policies to clients, such as debt management program rules, advantages and disadvantages of using services, or creditor concession policies.
- Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
- Prioritize client debt repayment to avoid dire consequences, such as bankruptcy or foreclosure or to reduce overall costs, such as by paying high-interest or short-term loans first.
- Assess clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- Recommend strategies for clients to meet their financial goals, such as borrowing money through loans or loan programs, declaring bankruptcy, making budget adjustments, or enrolling in debt management plans.
- Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
Knowledge You'll Use
You'll need solid knowledge in these areas:
- Customer and Personal Service
- English Language
- Mathematics
Essential Skills
Success in this career requires strong skills in:
- Speaking
- Reading Comprehension
- Active Listening
- Writing
- Critical Thinking
- Active Learning
- Service Orientation
Key Abilities
This career requires key abilities in:
- Oral Expression
- Oral Comprehension
- Written Comprehension
- Written Expression
- Problem Sensitivity
- Deductive Reasoning
- Inductive Reasoning
- Speech Recognition
- Near Vision
- Speech Clarity
Work Style
People who excel in this career typically demonstrate:
- Dependability
- Attention to Detail
- Integrity
- Empathy
- Sincerity
What Matters in This Career
This career tends to satisfy these work values:
- Relationships
- Achievement
- Independence
- Working Conditions
- Recognition
Education & Preparation
Typical Education: Bachelor's Degree
Related Work Experience Needed: Over 1 year, up to and including 2 years
On-the-Job Training: Over 6 months, up to and including 1 year
Education Details: Most of these occupations require a four-year bachelor's degree, but some do not.
Experience Required: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Technology You'll Use
Popular Technologies & Software
- Microsoft Access
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft Word
- Oracle PeopleSoft
- SAP software
Tools & Equipment
- Financial calculators
- Inkjet printers
- Laptop computers
- Laser facsimile machines
- Laser printers
- Multi-line telephone systems
- Personal computers
Work Environment
- Telephone Conversations
- Spend Time Sitting
- Contact With Others
- Frequency of Decision Making
Salary & Job Market
| Salary Percentile | Annual Wage |
|---|---|
| Entry-Level (10th percentile) | $38,980 |
| Median | $50,480 |
| Top Earners (90th percentile) | $77,920 |
Workers Employed Nationally: 28,110
Related Careers
If you're interested in this career, you might also consider:
Personal Financial Advisors
Education: Bachelor's Degree
Median Salary: $102,140
Loan Officers
Education: Bachelor's Degree
Median Salary: $74,180
Credit Authorizers, Checkers, and Clerks
Education: Not specified
Median Salary: $49,130
Credit Analysts
Education: Bachelor's Degree
Median Salary: $80,970
Loan Interviewers and Clerks
Education: High School Diploma - or the equivalent (for example, GED)
Median Salary: $48,950
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Occupational data sourced from the O*NET OnLine database, developed by the U.S. Department of Labor, Employment and Training Administration. Wage data from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), 2024.