Summary Report for:
13-2071.00 - Credit Counselors
Advise and educate individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explaining loan requirements or restrictions. May help develop debt management plans, advise on credit issues, or provide budget, mortgage, and bankruptcy counseling.
Also see: Loan Counselors
Tasks | Tools & Technology | Work Values | Wages & Employment | Job Openings
Tasks
- Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
- Assess clients' overall financial situation 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, the 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 to set up payment plans.
- Prepare written documents to establish contracts with or communicate financial recommendations to clients.
Tools & Technology
Tools used in this occupation:
| Calculators or accessories — Financial calculators |
| Facsimile machines — Fax machines |
| Inkjet printers |
| Notebook computers — Laptop computers |
| Special purpose telephones — Multi-line telephone systems |
Technology used in this occupation:
| Data base user interface and query software — CoreLogic DebtorTrace; LexisNexis Accurint; Merlin Information Services databases; Microsoft Access |
| Electronic mail software — Email software; Microsoft Outlook |
| Financial analysis software — Cooperative Processing Resources DMS Professional Suite; Freddie Mac Loan Prospector; Prime Debt Soft Credit Repair Software; Prime Debt Soft Debt Settlement Software |
| Network conferencing software — Chat software |
| Spreadsheet software — Microsoft Excel |
Work Values
| Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service. |
| Achievement — Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement. |
| Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy. |
Wages & Employment Trends
National
| Median wages (2012) | $18.95 hourly, $39,420 annual |
| Employment (2010) | 33,000 employees |
| Projected growth (2010-2020) | 
Faster than average (20% to 28%)
|
| Projected job openings (2010-2020) | 15,200 |
| Top industries (2010) |
State & National
Source: Bureau of Labor Statistics 2012 wage data
and 2010-2020 employment projections
.
"Projected growth" represents the estimated change in total employment over the projections period (2010-2020). "Projected job openings" represent openings due to growth and replacement.
