Credit Counselors

Credit Counselors typically perform the following 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. • Interview clients by telephone or in person to gather financial information. • Estimate time for debt repayment, given amount of debt, interest rates, and available funds. • Prepare written documents to establish contracts with or communicate financial recommendations to clients. • Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries. • Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or payment plans. • Advise clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention. • Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs. • Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat. • Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed. • Recommend educational materials or resources to clients on matters, such as financial planning, budgeting, or credit. • Refer clients to social service or community resources for needs beyond those of credit or debt counseling. • Explain loan information to clients, such as available loan types, eligibility requirements, or loan restrictions. • Teach courses or seminars on topics, such as budgeting, management of personal finances, or financial literacy.