In this day in the life guide, you will find out:
- What does a day as Credit Counselors looks like
- What do they do every day
- Things they do on a weekly or monthly basis
- How many hours do they work
The purpose of this is to give you a clear picture of this career so you can make a better career decision on whether this career is suitable for you or not.
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Typical Day for Credit Counselors
Here is a list of tasks that Credit Counselors do every day.
- Assess clients’ overall financial situation by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
- Calculate clients’ available monthly income to meet debt obligations.
- 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.
- 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.
Weekly and Monthly Tasks
Here is a list of tasks that Credit Counselors do on a weekly or monthly basis.
- Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or to set up payment plans.
- Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
- Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs.
- Teach courses or seminars on topics such as budgeting, managing personal finances, or financial literacy.
- Explain loan information to clients, such as available loan types, eligibility requirements, or loan restrictions.
- How many hours do Credit Counselors work per week? 40 hours per week
- What is the work schedule like? Regular (Set schedule and routine)
Indoors, Environmentally Controlled
Learn more about Credit Counselors
Related careers to Credit Counselors
This career is also closely related to Assistant Director for Financial Literacy, Branch Credit Counselor, Certified Consumer Credit and Housing Counselor, Certified Credit Counselor, Certified Personal Finance Counselor, Consumer Credit Counselor, Counseling Program Leader, Counselor, Credit Counselor or Credit Support Counselor.