Credit Counselors

Accredited Financial Counselor

Certified Consumer Credit and Housing Counselor

Certified Credit and Housing Counselor

Certified Credit Consultant

Certified Credit Counselor

Credit Counselor

Financial Health Counselor

Housing Counselor

Personal Finance Counselor

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.

Job Outlook

Projected salary and job growth

$37460.0 - $75030.0

New job opportunities are likely in the future. : Average

Finding local jobs...

Assessment

Related assessments and tests

No assessment available.

Related Occupations

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
- Microsoft PowerPoint (365)
Financial analysis software
- Cooperative Processing Resources DMS Professional Suite
- Freddie Mac Loan Product Advisor
- Integrant DebtLogic
- Prime Debt Software Credit Repair
Electronic mail software
- Email software
- Microsoft Outlook (365)
Enterprise resource planning ERP software

Tools Used

Notebook computers
- Laptop computers
Special purpose telephones
- Multi-line telephone systems
Laser fax machine
- Laser facsimile machines
Scientific calculator
- Financial calculators
Inkjet printers

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.
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.
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.

5 Active Jobs in South Africa

Avg Salary: R24,936pm

How to know if you are ready to be a Credit Counselors in South Africa

Navigating the complex financial landscape of South Africa requires more than just a knack for numbers; it requires a unique blend of empathy, legal understanding, and administrative precision. As the local economy fluctuates, the role of a Credit Counselor (or Debt Counsellor) has become pivotal in helping citizens regain their financial freedom. Currently, the market reflects a niche but steady demand with 6 active jobs available, offering an average starting salary of R4,047 per month. While this entry-level figure reflects the initial steps in the field, the career path offers significant opportunities for those who can master the regulatory environment.

Is Credit Counselors Right for Me? (Psychometric Checklist)

Before committing to this career path, evaluate whether your natural temperament aligns with the rigours of the profession. A successful Credit Counselor typically possesses the following traits:

High Emotional Intelligence: You can remain calm and empathetic when dealing with clients who are under extreme financial stress.
Ethical Integrity: You have a natural inclination to act in the best interest of the consumer while maintaining fair relationships with creditors.
Attention to Detail: You can meticulously review bank statements, credit agreements, and legal notices without overlooking critical data.
Negotiation Skills: You feel comfortable liaising between consumers and credit providers to reach mutually beneficial repayment terms.
Numerical Proficiency: You are adept at restructuring budgets and calculating interest rates to create sustainable debt-management plans.
Resilience: You can handle the high-pressure environment of South Africa's financial sector and the administrative requirements of the National Credit Regulator (NCR).

Day in the Life

In the South African context, a day in the life of a Credit Counselor is a balance between clinical financial analysis and human-centric consultation. Your morning might begin by reviewing the latest credit reports and "Form 16" applications for clients seeking debt review. You will spend a significant portion of your day on the phone or in digital correspondence, negotiating with credit providers—ranging from major banks to retail lenders—to restructure payment plans.

Lunch hours often involve administrative "firefighting," ensuring that all court applications and debt restructuring orders are filed correctly within the deadlines prescribed by the National Credit Act. The afternoon is usually reserved for face-to-face or virtual consultations, where you guide a family through their monthly budget, helping them distinguish between essential spending and luxury costs. It is a role that demands high levels of organisation, as you manage multiple portfolios simultaneously in a fast-paced, regulated environment.

Education & Upskilling

To practice as a Credit Counselor in South Africa, formal recognition is non-negotiable. Most professionals start with a foundational degree in Commerce (BCom), Law (LLB), or a National Diploma in Financial Management from a University or TVET College. These provide the necessary background in South African mercantile law and accounting principles.

However, the most critical step is completing a National Credit Regulator (NCR) Accredited Debt Counselling Course. This short, intensive programme is mandatory for anyone wishing to register as a licenced practitioner. Beyond initial certification, the industry evolves rapidly with new case law and amendments to the National Credit Act. Therefore, continuous learning is key. Engaging in short courses regarding the Protection of Personal Information Act (POPIA), advanced negotiation techniques, and the latest financial software is essential to stay competitive and effective.

Next Steps

Deciding to become a Credit Counselor is a commitment to improving the financial health of our nation, one household at a time. If you have the patience to navigate complex regulations and the heart to support people in their toughest moments, this could be your ideal calling. The journey begins with a clear understanding of your own strengths and readiness for the challenges ahead. Test your readiness now by taking our comprehensive career assessment to see if you have the profile to succeed in South Africa's credit industry.

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.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Writing
Communicating effectively in writing as appropriate for the needs of the audience.

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.
Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
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?

Bachelor's degree

40 %
High school diploma or equivalent

36 %

or: GED, High School Equivalency Certificate
Post-secondary certificate

12 %

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

Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
Documenting/Recording Information
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
Working with Computers
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Making Decisions and Solving Problems
Analyzing information and evaluating results to choose the best solution and solve problems.
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

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.
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.
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.