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Credit Counselors Occupation Detailed Description

Credit Counselors career

General Job Description and Education/Training Levels for Credit Counselors

The main tasks and work activities of Credit Counselors are to verify accuracy of financial information, submit financial applications, authorize financial actions, conduct eligibility or selection interviews. In general, for the Credit Counselors, speaking, reading Comprehension, active Listening, critical Thinking and other 17 skills are required.
Credit Counselors Job Description
EducationMost of these occupations require a four-year bachelor's degree, but some do not.
Related ExperienceA 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.
Job TrainingEmployees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
ExampleMany of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.
The following chart shows the education/training levels for Credit Counselors jobs. 39.45% of Credit Counselors have High School Diploma (or the equivalent) and 0.15% of Credit Counselors have Post-Secondary Certificate.
Less than a High School Diploma
0.00%
High School Diploma (or the equivalent)
39.45%
Post-Secondary Certificate
0.15%
Some College Courses
27.33%
Associate's Degree (or other 2-year degree)
7.36%
Bachelor's Degree and Above
25.71%

Tasks and Work Activities of Credit Counselors

  • Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
  • 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.
  • Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
  • Estimate time for debt repayment, given amount of debt, interest rates, and available funds.
  • Explain services or policies to clients, such as debt management program rules, advantages and disadvantages of using services, or creditor concession policies.
  • 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.
  • Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or payment plans.
  • Prepare written documents to establish contracts with or communicate financial recommendations to clients.
  • 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.
  • 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.
  • Refer clients to social service or community resources for needs beyond those of credit or debt counseling.
  • Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
  • Advise clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention.
  • Conduct research to help clients avoid repossessions or foreclosures or remove levies or wage garnishments.
  • Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs.
  • Disburse funds from client accounts to creditors.
  • Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
  • Getting InformationObserving, receiving, and otherwise obtaining information from all relevant sources.
  • Interacting With ComputersUsing computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Documenting/Recording InformationEntering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
  • Making Decisions and Solving ProblemsAnalyzing information and evaluating results to choose the best solution and solve problems.
  • Updating and Using Relevant KnowledgeKeeping up-to-date technically and applying new knowledge to your job.
  • Communicating with Persons Outside OrganizationCommunicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
  • Processing InformationCompiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Performing for or Working Directly with the PublicPerforming for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
  • Performing Administrative ActivitiesPerforming day-to-day administrative tasks such as maintaining information files and processing paperwork.
  • Identifying Objects, Actions, and EventsIdentifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
  • Verify accuracy of financial information.
  • Submit financial applications.
  • Authorize financial actions.
  • Conduct eligibility or selection interviews.
  • Update knowledge of legal or regulatory environments.
  • Analyze market conditions or trends.
  • Verify accuracy of records.
  • Supervise employees.
  • Maintain data in information systems or databases.
  • Verify application data to determine program eligibility.
  • Confer with others about financial matters.
  • Inform individuals or organizations of status or findings.
  • Correspond with customers to answer questions or resolve complaints.
  • Advise others on financial matters.
  • Assess financial status of clients.
  • Compute debt repayment schedules.
  • Develop financial plans for clients.
  • Explain regulations, policies, or procedures.
  • Interview clients to gather financial information.
  • Prepare financial documents.

Skills and Abilities for Credit Counselors

  • SpeakingTalking to others to convey information effectively.
  • Reading ComprehensionUnderstanding written sentences and paragraphs in work related documents.
  • Active ListeningGiving 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.
  • Critical ThinkingUsing logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • WritingCommunicating effectively in writing as appropriate for the needs of the audience.
  • Active LearningUnderstanding the implications of new information for both current and future problem-solving and decision-making.
  • Service OrientationActively looking for ways to help people.
  • Judgment and Decision MakingConsidering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Complex Problem SolvingIdentifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • PersuasionPersuading others to change their minds or behavior.
  • InstructingTeaching others how to do something.
  • NegotiationBringing others together and trying to reconcile differences.
  • CoordinationAdjusting actions in relation to others' actions.
  • Social PerceptivenessBeing aware of others' reactions and understanding why they react as they do.
  • Learning StrategiesSelecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
  • Time ManagementManaging one's own time and the time of others.
  • MathematicsUsing mathematics to solve problems.
  • Systems AnalysisDetermining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • MonitoringMonitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Systems EvaluationIdentifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
  • Oral ExpressionThe ability to communicate information and ideas in speaking so others will understand.
  • Oral ComprehensionThe ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written ComprehensionThe ability to read and understand information and ideas presented in writing.
  • Inductive ReasoningThe ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Deductive ReasoningThe ability to apply general rules to specific problems to produce answers that make sense.
  • Problem SensitivityThe ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Written ExpressionThe ability to communicate information and ideas in writing so others will understand.
  • Information OrderingThe ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
  • Speech ClarityThe ability to speak clearly so others can understand you.
  • Speech RecognitionThe ability to identify and understand the speech of another person.
  • Near VisionThe ability to see details at close range (within a few feet of the observer).
  • Number FacilityThe ability to add, subtract, multiply, or divide quickly and correctly.
  • Mathematical ReasoningThe ability to choose the right mathematical methods or formulas to solve a problem.
  • Perceptual SpeedThe ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes comparing a presented object with a remembered object.
  • Category FlexibilityThe ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Fluency of IdeasThe ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
  • Selective AttentionThe ability to concentrate on a task over a period of time without being distracted.
  • Flexibility of ClosureThe ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
  • Scientific calculatore.g. Financial calculators
  • Inkjet printerse.g. Inkjet printers
  • Notebook computerse.g. Laptop computers
  • Laser fax machinee.g. Laser facsimile machines
  • Laser printerse.g. Laser printers
  • Special purpose telephonese.g. Multi-line telephone systems
  • Personal computerse.g. Personal computers
  • Desktop calculatore.g. 10-key calculators
  • Autodialerse.g. Autodialers
  • Desktop computerse.g. Desktop computers
  • Notebook computerse.g. Notebook computers
  • Personal computerse.g. Personal computers
  • Customer and Personal ServiceKnowledge 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 LanguageKnowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Computers and ElectronicsKnowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • MathematicsKnowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • ClericalKnowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Law and GovernmentKnowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Education and TrainingKnowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
  • Economics and AccountingKnowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Communications and MediaKnowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
  • PsychologyKnowledge 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.