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.
- 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.
- Assesses clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- 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.