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What They Do
About This Career
Advises and educates 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.
This career is part of the Human Services cluster Consumer Services pathway.
A person in this career:
- Calculates clients' available monthly income to meet debt obligations.
- Explains services or policies to clients, such as debt management program rules, advantages and disadvantages of using services, or creditor concession policies.
- Creates debt management plans, spending plans, or budgets to assist clients to meet financial goals.
- Assesses clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- Prioritizes 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.
- Recommends 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.
- Explains general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
- Interviews clients by telephone or in person to gather financial information.
- Estimates time for debt repayment, given amount of debt, interest rates, and available funds.
- Prepares written documents to establish contracts with or communicate financial recommendations to clients.
Working Conditions and Physical Demands
People who do this job report that:
- You would sit most of the time. There's some walking and standing. You may have to lift and carry things like books, papers or tools weighing 10 lbs. or less.
- Work in this occupation involves using your hands to hold, control, and feel objects more than one-third of the time
- Work in this occupation requires being inside most of the time
- Work in this occupation involves sitting more than one-third of the time
Working in this career involves (physical activities):
- Seeing clearly up close
- Speaking clearly enough to be able to be understood by others
- Identifying and understanding the speech of another person
Work Hours and Travel
- Regular working hours and limited travel
Specialty and Similar Careers
Careers that are more detailed or close to this career:
- Certified Consumer Credit and Housing Counselor
- Certified Credit Counselor
- Financial Health Counselor
- Accredited Financial Counselor
- Personal Finance Counselor
- Certified Credit Consultant
- Housing Counselor
- Certified Credit and Housing Counselor
Every year the U.S. Department of Labor conducts national surveys of wage data by occupation in every state and in all industry divisions. These surveys are conducted through the Occupational Employment Statistics (OES) program.
The statistics collected for one year are published the next fall. For example, 2013 wage information was published in the fall of 2014.
There are over 800 occupations in the surveys, and these occupations cover the entire U.S. labor market. The surveys ask for reports in a scale of ranges for both hourly wages and annual wages.
In many cases, these occupations are broad enough to cover many more detailed specialties of an occupation. A specific occupation may be included in a broader occupational category for which labor market data is available. When you look at the statistics for a broad category, be aware that the salary data for a specific career may differ.
For more details about how wage information is collected and calculated by the U.S. Department of Labor, visit their website at http://www.bls.gov/bls/blswage.htm.
Every year the U.S. Department of Labor conducts a national survey of over 400,000
employers in every state and in all industry divisions. This survey is conducted
through the Occupational Employment Statistics (OES) program. Every other year the
department publishes outlook information based on these surveys.
Each outlook period covers 10 years. For example, in 2003 the outlook information
was published for 2004-2014. Employers are asked to report the number of employees
in about 770 different occupations that cover the entire U.S. labor market.
From this information, staffing patterns for different industries are established.
Industry growth is projected into the future based on past trends and current economic
conditions. Industry staffing patterns are then applied to the industry projections
to obtain occupational projections.
In many cases, these occupations are broad enough to cover many more detailed specialties
of an occupation. A specific occupation may be included in a broader occupational
category for which labor market data is available. When you look at the statistics
for a broad category, be aware that the employment data for a specific field may
differ.
For more details about how employment information is collected and calculated by
the U.S. Department of Labor, visit their website at http://stats.bls.gov/news.release/ocwage.tn.htm.
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