Advises and educates individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explaining loan requirements or restrictions. May help develop debt management plans, advise on credit issues, or provide budget, mortgage, and bankruptcy counseling.
This career is part of the Human Services cluster Consumer Services pathway.
A person in this career:
- Assesses clients' overall financial situation by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- Creates debt management plans, spending plans, or budgets to assist clients to meet financial goals.
- Calculates clients' available monthly income to meet debt obligations.
- 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.
- Interviews clients by telephone or in person to gather financial information.
- Explains general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
- Advises clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention.
- Prepares written documents to establish contracts with or communicate financial recommendations to clients.
- Explains services or policies to clients, such as debt management program rules, the advantages and disadvantages of using services, or creditor concession policies.