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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.

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    Work Activities

    Work Activities

    • 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.
    • Disburse funds from client accounts to creditors.
    • Interview clients by telephone or in person to gather financial information.
    • Estimate time for debt repayment, given amount of debt, interest rates, and available funds.
    • Prepare written documents to establish contracts with or communicate financial recommendations to clients.
    • Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries.
    • Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or payment plans.
    • Advise clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention.
    • Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs.
    • Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
    • Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
    • Recommend educational materials or resources to clients on matters, such as financial planning, budgeting, or credit.
    • 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.
    • Teach courses or seminars on topics, such as budgeting, management of personal finances, or financial literacy.
    • Conduct research to help clients avoid repossessions or foreclosures or remove levies or wage garnishments.
    • Investigate missing checks, payment histories, held funds, returned checks, or other related issues to resolve client or creditor problems.

    Skills

    • Speaking

      Talking to others to convey information effectively.

    • Active Listening

      Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

    • Reading Comprehension

      Understanding written sentences and paragraphs in work related documents.

    WorkKeys®

    Applied Math
    5
    Workplace Documents
    5
    Graphic Literacy
    4

    Abilities

    • Oral Expression

      The ability to communicate information and ideas in speaking so others will understand.

    • Oral Comprehension

      The ability to listen to and understand information and ideas presented through spoken words and sentences.

    • Written Comprehension

      The ability to read and understand information and ideas presented in writing.

    Knowledge

    • 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.

    • English Language

      Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

    • Mathematics

      Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

    Career Video

    Additional videos and more information available on CareerOneStop

    Pay

    • Ohio Annual Salary 48120/yr
    • Typical Salary
    • Ohio Hourly Wage 23.14/hr
    • Typical Hourly Wage

    Ohio Employment Trends

    • Currently Employed 1,000
    • Yearly Projected Openings 90

    Typical Education

    Personality

    Enterprising: People interested in this work like activities that include leading, making decisions, and business.They do well at jobs that need:
    • Integrity
    • Dependability
    • Concern for Others
    • Attention to Detail
    • Self Control
    • Cooperation

    Tools

    • Personal computers
    • Notebook computers
    • Laser printers
    • Laser fax machine
    • Inkjet printers

    Technology

    • Information retrieval or search software
    • Financial analysis software
    • Enterprise resource planning ERP software
    • Electronic mail software
    • Data base user interface and query software

    Tags

    • Bright Outlook occupations will grow rapidly in the next few years, have a large number of openings, or are new and emerging careers.

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    Workforce Supply Tool

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