Many people dream of buying a house... or going to college... but these plans, and many others, cost more money than most people have. That's where credit and loan counselors and officers come in -they help people find the best ways to borrow the money they need. Loan officers meet with people applying for loans. They examine applicants' financial records and determine just how much money they may be able to borrow. Some people have financial problems that can make it difficult for them to borrow using traditional options... loan counselors search for alternatives. Once they've found an appropriate loan, counselors explain what financial regulations are involved. Credit counselors help customers resolve financial issues, from creating a plan to pay off debt, to finding a financial aid program for college. Financial matters can be tedious and frustrating to handle, so a steady demeanor is helpful. This work requires the ability to listen carefully and explain complicated issues simply. Credit and loan officers and counselors work in banks, higher education, and in mortgage firms. In addition to math skills, they must be detail-oriented to accurately complete loan documents. These professionals usually have a degree in finance or economics. If you like helping people and you're good with numbers, your skills could lend themselves to a career as a credit professional.
What they do:
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.
On the job, you would:
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.
Business
customer service
administrative services
Arts and Humanities
English language
Math and Science
arithmetic, algebra, geometry, calculus, or statistics
psychology
Education and Training
teaching and course design
Basic Skills
talking to others
listening to others, not interrupting, and asking good questions
Problem Solving
noticing a problem and figuring out the best way to solve it
Social
looking for ways to help people
talking people into changing their minds or their behavior
Verbal
communicate by speaking
listen and understand what people say
Ideas and Logic
make general rules or come up with answers from lots of detailed information
notice when problems happen
Math
add, subtract, multiply, or divide
choose the right type of math to solve a problem
People interested in this work like activities that include leading, making decisions, and business.
They do well at jobs that need:
Integrity
Dependability
Concern for Others
Attention to Detail
Self Control
Cooperation
You might use software like this on the job:
Financial analysis software
Cooperative Processing Resources DMS Professional Suite
Integrant DebtLogic
Data base user interface and query software
CoreLogic DebtorTrace
Microsoft Access
Enterprise resource planning ERP software
Oracle PeopleSoft
SAP
bachelor's degree or high school diploma/GED usually needed
Get started on your career:
New job opportunities are very likely in the future.
$45,950
$31,670
$76,740
You might like a career in one of these industries:
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