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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.
Also Known As:
Accredited Financial Counselor
Certified Consumer Credit and Housing Counselor
Certified Credit Consultant
Certified Credit Counselor
Certified Credit and Housing Counselor
Credit Counselor
Financial Health Counselor
Housing Counselor
Personal Finance Counselor
Wages
Annual wages for Credit Counselors in United States
Job Outlook
Average
New job opportunities are likely in the future
United States
2034 Projected Employment
32,900
3% Change From 2024
Explore Loan Officers video
Tasks you might complete in a day.
- Refer clients to social service or community resources for needs beyond those of credit or debt counseling.
- Explain loan information to clients, such as available loan types, eligibility requirements, or loan restrictions.
- Disburse funds from client accounts to creditors.
- Assess clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
- Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries.
- Conduct research to help clients avoid repossessions or foreclosures or remove levies or wage garnishments.
- Prepare written documents to establish contracts with or communicate financial recommendations to clients.
- Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
- Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
- Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
- Interview clients by telephone or in person to gather financial information.
- Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs.
- Advise clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention.
- Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or payment plans.
- Investigate missing checks, payment histories, held funds, returned checks, or other related issues to resolve client or creditor problems.
- 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 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.
- Estimate time for debt repayment, given amount of debt, interest rates, and available funds.
- Teach courses or seminars on topics, such as budgeting, management of personal finances, or financial literacy.
- Recommend educational materials or resources to clients on matters, such as financial planning, budgeting, or credit.
- Calculate clients' available monthly income to meet debt obligations.
- Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
- Explain services or policies to clients, such as debt management program rules, advantages and disadvantages of using services, or creditor concession policies.
Subject areas you may need to master.
- Engineering and Technology - Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
- Production and Processing - Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
- Food Production - Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
- Communications and Media - Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
- Design - Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
- Physics - Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub-atomic structures and processes.
- Chemistry - Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.
- Biology - Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.
- Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
- Transportation - Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
- Public Safety and Security - Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.
- Telecommunications - Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- History and Archeology - Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.
- Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
- Philosophy and Theology - Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture.
- Geography - Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.
- Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
- Foreign Language - Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.
- Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Mechanical - Knowledge of machines and tools, including their designs, uses, repair, and maintenance.
- Sociology and Anthropology - Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.
- Therapy and Counseling - Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance.
- Medicine and Dentistry - Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, and rules of composition and grammar.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
- Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Administrative - Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Fine Arts - Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
- Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Strengths you may need in this role.
- Management of Financial Resources - Making spending decisions and keeping track of what is spent.
- Active Learning - Figuring out how to use new ideas or things.
- Operation and Control - Using equipment or systems.
- Installation - Installing equipment, machines, wiring, or computer programs.
- Management of Material Resources - Managing equipment and materials.
- Active Listening - Listening to others, not interrupting, and asking good questions.
- Operations Analysis - Figuring out what a product or service needs to be able to do.
- Operations Monitoring - Watching gauges, dials, or display screens to make sure a machine is working.
- Systems Evaluation - Measuring how well a system is working and how to improve it.
- Time Management - Managing your time and the time of other people.
- Reading Comprehension - Reading work-related information.
- Learning Strategies - Using the best training or teaching strategies for learning new things.
- Speaking - Talking to others.
- Quality Control Analysis - Testing how well a product or service works.
- Judgment and Decision Making - Thinking about the pros and cons of different options and picking the best one.
- Troubleshooting - Figuring out what is causing equipment, machines, wiring, or computer programs to not work.
- Critical Thinking - Thinking about the pros and cons of different ways to solve a problem.
- Social Perceptiveness - Understanding people's reactions.
- Monitoring - Keeping track of how well people and/or groups are doing in order to make improvements.
- Coordination - Changing what is done based on other people's actions.
- Equipment Selection - Deciding what kind of tools and equipment are needed to do a job.
- Mathematics - Using math to solve problems.
- Persuasion - Talking people into changing their minds or their behavior.
- Complex Problem Solving - Noticing a problem and figuring out the best way to solve it.
- Equipment Maintenance - Planning and doing the basic maintenance on equipment.
- Writing - Writing things for co-workers or customers.
- Technology Design - Making equipment and technology useful for customers.
- Repairing - Repairing machines or systems using the right tools.
- Management of Personnel Resources - Selecting and managing the best workers for a job.
- Service Orientation - Looking for ways to help people.
- Science - Using scientific rules and strategies to solve problems.
- Negotiation - Bringing people together to solve differences.
- Instructing - Teaching people how to do something.
- Programming - Writing computer programs.
- Systems Analysis - Figuring out how a system should work and how changes in the future will affect it.
- Problem Sensitivity - Noticing when problems happen.
- Written Expression - Communicating by writing.
- Gross Body Equilibrium - Keeping your balance or staying upright.
- Gross Body Coordination - Moving your arms, legs, and mid-section together while your whole body is moving.
- Speed of Limb Movement - Quickly moving your arms and legs.
- Spatial Orientation - Knowing where things are around you.
- Fluency of Ideas - Coming up with lots of ideas.
- Rate Control - Changing when and how fast you move based on how something else is moving.
- Control Precision - Quickly changing the controls of a machine, car, truck or boat.
- Flexibility of Closure - Seeing hidden patterns.
- Finger Dexterity - Putting together small parts with your fingers.
- Dynamic Flexibility - Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.
- Auditory Attention - Paying attention to one sound while there are other distracting sounds.
- Number Facility - Adding, subtracting, multiplying, or dividing.
- Reaction Time - Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.
- Deductive Reasoning - Using rules to solve problems.
- Dynamic Strength - Exercising for a long time without your muscles getting tired.
- Far Vision - Seeing details that are far away.
- Sound Localization - Noticing the direction that a sound came from.
- Arm-Hand Steadiness - Keeping your arm or hand steady.
- Wrist-Finger Speed - Making fast, simple, repeated movements of your fingers, hands, and wrists.
- Oral Comprehension - Listening and understanding what people say.
- Inductive Reasoning - Making general rules or coming up with answers from lots of detailed information.
- Time Sharing - Doing two or more things at the same time.
- Trunk Strength - Using your lower back and stomach.
- Speech Clarity - Speaking clearly.
- Hearing Sensitivity - Telling the difference between sounds.
- Speed of Closure - Quickly knowing what you are looking at.
- Information Ordering - Ordering or arranging things.
- Extent Flexibility - Bending, stretching, twisting, or reaching with your body, arms, and/or legs.
- Multilimb Coordination - Using your arms and/or legs together while sitting, standing, or lying down.
- Originality - Creating new and original ideas.
- Mathematical Reasoning - Choosing the right type of math to solve a problem.
- Glare Sensitivity - Seeing something even if there is a glare or very bright light.
- Static Strength - Lifting, pushing, pulling, or carrying.
- Written Comprehension - Reading and understanding what is written.
- Visualization - Imagining how something will look after it is moved around or changed.
- Response Orientation - Quickly deciding if you should move your hand, foot, or other body part.
- Memorization - Remembering words, numbers, pictures, or steps.
- Visual Color Discrimination - Noticing the difference between colors, including shades and brightness.
- Speech Recognition - Recognizing spoken words.
- Manual Dexterity - Holding or moving items with your hands.
- Peripheral Vision - Seeing something to your side when your are looking ahead.
- Perceptual Speed - Quickly comparing groups of letters, numbers, pictures, or other things.
- Oral Expression - Communicating by speaking.
- Category Flexibility - Grouping things in different ways.
- Depth Perception - Deciding which thing is closer or farther away from you, or deciding how far away it is from you.
- Stamina - Exercising for a long time without getting out of breath.
- Night Vision - Seeing at night or under low light.
- Explosive Strength - Jumping, sprinting, or throwing something.
- Near Vision - Seeing details up close.
- Selective Attention - Paying attention to something without being distracted.
Average Education Attained
Highest level of education earned by people in this career.
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Content sourced from United States Department of Labor Employment and Training Administration ("DOLETA") and the Minnesota Department of Employment & Economic Development ("DEED")