Credit Counselors
What is a Credit Counselor?
A credit counselor is a financial professional who provides guidance and support to individuals seeking to improve their credit scores, manage debt, and achieve overall financial well-being. They work with clients to evaluate their financial situations, create budgets, and develop personalized repayment plans. Credit counselors often offer educational resources to help clients understand credit management principles, including the importance of timely payments, understanding credit reports, and maintaining a healthy credit utilization ratio. These professionals can also negotiate with creditors on behalf of clients to reduce interest rates or arrange more favorable payment terms. Ultimately, credit counselors strive to empower individuals to regain control over their finances, make informed financial decisions, and work towards achieving their long-term financial goals.
Tasks
- 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.
Technology Skills
- Data base user interface and query software
- Presentation software
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Financial analysis software
- Cooperative Processing Resources DMS Professional Suite
- Freddie Mac Loan Product Advisor
- Integrant DebtLogic
- Prime Debt Software Credit Repair
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Electronic mail software
- Email software
- Microsoft Outlook (365)
- Enterprise resource planning ERP software
Tools Used
- Notebook computers
- Special purpose telephones
- Laser fax machine
- Scientific calculator
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Inkjet printers
Knowledge
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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.
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English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
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Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
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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.
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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.
Skills
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Speaking
Talking to others to convey information effectively.
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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.
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Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
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Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
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Writing
Communicating effectively in writing as appropriate for the needs of the audience.
Abilities
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Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
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Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
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Written Comprehension
The ability to read and understand information and ideas presented in writing.
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Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
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Inductive Reasoning
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Education
How much education does a new hire need to perform a job in this occupation?
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Bachelor's degree
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High school diploma or equivalent
or: GED, High School Equivalency Certificate
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Post-secondary certificate
Awarded for training completed after high school (for example, in Personnel Services, Engineering-related Technologies, Vocational Home Economics, Construction Trades, Mechanics and Repairers, Precision Production Trades)
Work Activities
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Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
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Documenting/Recording Information
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
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Working with Computers
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
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Making Decisions and Solving Problems
Analyzing information and evaluating results to choose the best solution and solve problems.
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Communicating with People Outside the Organization
Communicating 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.
Detailed Work Activities
- Compute debt repayment schedules.
- Explain regulations, policies, or procedures.
- Develop financial plans for clients.
- Assess financial status of clients.
- Recommend investments to clients.
Work Interests
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Conventional
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
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Social
Work involves helping, teaching, advising, assisting, or providing service to others. Social occupations are often associated with social, health care, personal service, teaching/education, or religious activities.
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Enterprising
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
Job Outlook
Projected salary and job growth
$37460.0 - $75030.0
New job opportunities are likely in the future. : Average
Assessment
Related assessments and tests
No assessment available.