Also called: Certified Consumer Credit and Housing Counselor, Certified Credit Counselor, Credit Counselor, Housing Counselor
Produced by CareerOneStop
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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 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.
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.
- customer service
- administrative services
Arts and Humanities
- English language
Math and Science
- arithmetic, algebra, geometry, calculus, or statistics
Education and Training
- teaching and course design
- talking to others
- listening to others, not interrupting, and asking good questions
- noticing a problem and figuring out the best way to solve it
- looking for ways to help people
- talking people into changing their minds or their behavior
- 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
- 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:
- Concern for Others
- Attention to Detail
- Self Control
You might use software like this on the job:
Data base user interface and query software
Financial analysis software
- Freddie Mac Loan Prospector
- Prime Debt Software Credit Repair