How to become a credit counselor
Advise and educate 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.
Steps to get there
Most employers expect most of these occupations require a four-year bachelor's degree, but some do not..A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
What credit counselors do
- Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
- Assess clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- Calculate clients' available monthly income to meet debt obligations.
- 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.
Skills that matter most
- Reading Comprehension
- Active Listening
- Speaking
- Critical Thinking
- Writing
- Active Learning
- Mathematics
- Learning Strategies
Is credit counselor a good career?
On the numbers, this job is close to the average across occupations. Median pay is 2% above the all-occupation median. Whether it fits you depends on the work itself, the schooling you are willing to do and where you want to live.
Where it pays most
- California $67,120
- Georgia $64,080
- District of Columbia $63,580
- Massachusetts $63,240
- New York $63,030
Credit Counselors salary by state and city
Sources: O*NET® 31.0 (CC BY 4.0, USDOL/ETA) and BLS Employment Projections 2025–35. Pay: BLS OEWS May 2025.