Credit Counselors

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.

O*NET reports this occupation under titles such as: Accredited Financial Counselor; Budget Credit Counselor; Certified Consumer Credit and Housing Counselor; Certified Credit Consultant; Certified Credit Counselor; Certified Financial Coach; Certified Personal Finance Counselor; Financial Coach; Financial Health Counselor; Housing Counselor

Tasks

• Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
• Assess clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.
• Calculate clients' available monthly income to meet debt obligations.
• 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.
• Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
• Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
• Interview clients by telephone or in person to gather financial information.
• Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries.
• Estimate time for debt repayment, given amount of debt, interest rates, and available funds.
• 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.
• Recommend educational materials or resources to clients on matters, such as financial planning, budgeting, or credit.
• Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
• Prepare written documents to establish contracts with or communicate financial recommendations to clients.
• Explain services or policies to clients, such as debt management program rules, advantages and disadvantages of using services, or creditor concession policies.
• Teach courses or seminars on topics, such as budgeting, management of personal finances, or financial literacy.

Knowledge

• Customer and Personal Service
• English Language
• Administrative
• Economics and Accounting
• Education and Training
• Mathematics
• Administration and Management

Skills

• Reading Comprehension
• Active Listening
• Speaking
• Critical Thinking
• Writing
• Active Learning
• Mathematics
• Learning Strategies
• Monitoring

Abilities

• Oral Comprehension
• Written Comprehension
• Oral Expression
• Written Expression
• Deductive Reasoning
• Problem Sensitivity
• Inductive Reasoning
• Near Vision
• Speech Recognition
• Fluency of Ideas
• Mathematical Reasoning
• Number Facility
• Speech Clarity
• Originality
• Information Ordering
• Category Flexibility
• Selective Attention