DETAILED OCCUPATION DATA
13-2071 Credit Counselors
Occupational Description:
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.| Percentiles | |||||||||
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| Geography | Employment | Emp SE* | Mean | Mean SE* | 10th | 25th | Median | 75th | 90th |
| Seven County Mpls-St Paul, MN | 330 | 117 | $26.15/hr | $0.98/hr | $18.58/hr | $21.60/hr | $24.99/hr | $29.05/hr | $31.71/hr |
| Minnesota | 510 | 125 | $24.63/hr | $1.01/hr | $16.56/hr | $20.33/hr | $23.71/hr | $27.99/hr | $31.33/hr |
| U S | 32,110 | 899 | $24.38/hr | $0.22/hr | $15.37/hr | $18.08/hr | $22.30/hr | $28.37/hr | $37.25/hr |
| *SE = Standard error, a measure of the statistical reliability of the estimate. | |||||||||
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| Occupation (click title for details) | OES | Projections | |
|---|---|---|---|
| Employment | Median Wage | % Change 2020 - 2030 | |
| Billing and Posting Clerks and Machine Operators | 5,380 | $21.83/hr | -1.1% |
| Loan Interviewers and Clerks | 4,110 | $20.68/hr | -2.3% |
| Tellers | 3,380 | $15.53/hr | -12.8% |
| Personal Financial Advisors | 3,170 | $40.80/hr | 6.5% |
| Brokerage Clerks | 1,870 | $24.28/hr | -8.9% |
| Credit Analysts | 1,420 | $38.59/hr | -6.4% |
| Tax Examiners, Collectors, and Revenue Agents | 950 | $28.87/hr | N/A |
| Tax Preparers | 940 | $27.05/hr | 1.0% |
| New Accounts Clerks | 480 | $19.00/hr | -13.1% |
Tasks for Credit Counselors
- Analyzes applicant's financial status, credit, and property evaluation to determine feasibility of granting loan.
- Petitions court to transfer title and deeds of collateral to bank.
- Submits application to credit analyst for verification and recommendation.
- Supervises loan personnel.
- Negotiates payment arrangements with customers for delinquent loan balance.
- Arranges for maintenance and liquidation of delinquent property.
- Analyzes potential loan markets to develop prospects for loans.
- Confers with underwriters to aid in resolving mortgage application problems.
- Refers loan to loan committee for approval.
- Contacts applicant or creditors to resolve questions regarding application information.
- Ensures loan agreements are complete and accurate according to policy.
- Computes payment schedule.
- Interviews applicant and requests specified information for loan application.
- Approves loan within specified limits.
