Credit Counselor
A Credit Counselor is a professional who can help you fix your financial status, improve your financial health or help you sort out you finances and manages your debts and the interests you have to pay for. The main duty of the Credit Counselor is to extend help to the client in terms of assessing and putting finances and debts in order. Usually people who seek help from credit counselors are those that have fallen behind with their dues and would want a better payment plan for their debts.
Credit Counselors also have the responsibility of educating the consumers or their client on how they can avoid being behind bills or incurring debts that they cannot pay. It is also a form of debt counseling. Another task of the Credit Counselor is to negotiate with the creditors like banks and other financial institutions to reach a debt management plan for the client. This debt management plan would be the final agreement between the client and the lending institution on how the debt would be paid. Credit Counselors are usually the ones who would set up the debt management plan. Of course, they would have to consider the conditions of the bank or the agreement made in the original contract of the loan.
Education
A Bachelor’s degree in accountancy, business or equivalent is required for this job. Experience in a financial institution for at least a year is likewise necessary.
If you aren’t interested in the post-secondary route, there are non profit organization who are hosts to Credit Counselors and only require a high school degree and certain training courses.
Salary
The higher end yearly salary for a Credit Counselor is around $34,000, dependent on location and experience.
