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.
Sample of reported job titles:
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
Occupation-Specific Information
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 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.
Technology Skills
- Data base user interface and query software:CoreLogic DebtorTrace,LexisNexis Accurint,Merlin Information Services databases,Microsoft Access
- Electronic mail software:Email software,Microsoft Outlook
- Enterprise resource planning ERP software:Microsoft Dynamics,Oracle PeopleSoft,SAP business and customer relations management software
- Financial analysis software:Cooperative Processing Resources DMS Professional Suite,Freddie Mac Loan Prospector,ICCO CreditSoft,Integrant DebtLogic,Paragon Financial Services Paragon Financial System,Prime Debt Soft Debt Settlement,Prime Debt Software Credit Repair
- Information retrieval or search software:LexisNexis
Occupational Requirements
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
- Advise others on financial matters.
- Assess financial status of clients.
- Compute debt repayment schedules.
- Correspond with customers to answer questions or resolve complaints.
- Develop financial plans for clients.
Work Context
- Electronic Mail:92% responded"Every day"
- Telephone:88% responded"Every day"
- Indoors, Environmentally Controlled:83% responded"Every day"
- Spend Time Sitting:76% responded"Continually or almost continually"
- Frequency of Decision Making:76% responded"Every day"
Worker Requirements
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.
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.
Education
How much education does a new hire need to perform a job in this occupation? Respondents said:
- 40%Bachelor's Degree
- 36%High School Diploma - or the equivalent (for example, GED)
- 12%Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)
- 8%Some College Courses
Worker Characteristics
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).
Interests
- Conventional:Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Enterprising:Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
- Social:Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
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.
Work Styles
- Integrity:Job requires being honest and ethical.
- Dependability:Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Concern for Others:Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
- Attention to Detail:Job requires being careful about detail and thorough in completing work tasks.
- Self-Control:Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
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