CAREER

Credit Counselors

Overview

Salary Median (2020)

$46,170

Projected Job Growth (2019-2029)

+7.6% (as fast as the average)

Most Common Level of Education

Bachelor's degree

Career

What Credit Counselors Do

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.

Other Job Titles Credit Counselors May Have

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

How Leaders Describe a Typical Day at Work

Senior Risk Coordinator ,

Capital One

When I come in to work I log into my computer, log into my phone and other programs that I use and begin dialing customers. If the customer does not answer the phone, I leave a message asking them to go online or call us back. If the customer does answer, I give them an overview of their account status and then offer my assistance in helping them get caught up. Sometimes it's as simple as they got busy and forgot to make their payment. Other times they are going through difficult situations.


Tasks & Responsibilities May 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.

This page includes information from theO*NET 26.1 Databaseby the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under theCC BY 4.0license. O*NET® is a trademark of USDOL/ETA.