Business & Finance
Credit Counselors
Also called: Accredited Financial Counselor, Budget Credit Counselor, Certified Consumer Credit and Housing Counselor, Certified Credit Consultant
US median pay
$52,230
per year, 2025
Job growth 2025–35
+3.3%
about average or slower
Openings a year (US)
2,000
31,200 employed
Typical entry education
Bachelor's degree
Preparation 4/5 · Considerable preparation
What this job is
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.
What they do day to day
- Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
- 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.
- 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.
- Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
- Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
- 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.
- Estimate time for debt repayment, given amount of debt, interest rates, and available funds.
- 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.
Skills and knowledge that matter most
Skills
- Judgment and Decision Making3.8/5
- Complex Problem Solving3.8/5
- Service Orientation3.6/5
- Social Perceptiveness3.2/5
- Persuasion3.2/5
- Systems Evaluation3.1/5
- Negotiation3.1/5
- Time Management3.0/5
Knowledge
- Customer and Personal Service4.5/5
- English Language3.9/5
- Administrative3.8/5
- Education and Training3.5/5
- Economics and Accounting3.5/5
- Mathematics3.3/5
Importance rated by people working in the job (1 = not important, 5 = extremely important).
Education and preparation
Preparation level 4 of 5 — Considerable preparation. Usually a bachelor's degree and several years of related experience.
Typical entry education (BLS): Bachelor's degree.
Who this job suits
Mostly Conventional
Organising data, details and procedures
Social
Helping, teaching and caring for people
Enterprising
Leading, persuading and starting things
Based on the Holland (RIASEC) interest profile for this occupation.