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CREDIT COUNSELORS
An Occupation in
 
Occupation Description:
 
  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.
 
Career Video:
  Video Icon  Credit Counselors
  Open-captioning or video transcript included for the hearing impaired. Career videos brought to you by CareerOneStop. Copyright © 2017 All Rights Reserved.
 
Typical 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.
  • 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.
  • Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
 
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..
  • Clerical - Knowledge 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..
  • 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..
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data..
  • Psychology - Knowledge 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..
 
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Education & Training:
 
  Bachelor's degree
 
      View Related Programs on Connecticut's Education & Training ConneCTion site
 
Wage Information:
 
 
Region Average Annual Average Hourly Entry Level (hourly) Mid-Range  (hourly)
Statewide $55,470.00 $26.67 $20.10 $21.44 - $30.48
Bridgeport/Stamford $57,754.00 $27.77 $21.61 $23.09 - $28.91
Hartford $50,819.00 $24.44 $19.64 $20.45 - $24.39
New London/Norwich $59,886.00 $28.79 $20.37 $20.65 - $33.92
      
Select a town to see its region Not sure which Region applies to you?
    

 
Occupation Outlook:
 
 
Region Employment Average Annual Growth Rate Average Annual Job Openings
2020 2030
State of Connecticut 410 450 0% 37
 
 
Chart of Growth Rate and Annual Openings   Employment in this occupation is expected to grow about as fast as average, but the number of annual openings will offer limited job opportunities.
Key:
  N/A = Not Applicable, ***** = Over $60.00 per hour, ##### = Over $124,821
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