Top 15 Credit Counselor Skills (2024)

15 credit counselor skills for your resume and career

1. Customer Service

Customer service is the act of providing assistance and support to clients or customers. Credit counselors use customer service by helping clients analyze and improve their personal finances, providing support and counseling regarding credit issues, and maintaining a high level of customer service through building rapport, empathetic listening, and assertive resolution. They also answer phone calls from clients for collections and customer service inquiries, and provide office support and customer service for clients who submitted their payments for the CCCS debt repayment service.

Here's how credit counselors use customer service:

Provide effective customer service and support assisting clients in analyzing and improving personal finances.
Provided excellent customer service and helped to counsel customers regarding credit issues as necessary.

2. Debt Management

Debt management is a plan that helps individuals manage their debts effectively. Credit counselors use debt management by collecting necessary documents, preparing action plans, and assessing financial options to help clients repay their debts. They also determine the feasibility of debt management plans based on clients' and creditors' ability to participate. Additionally, they provide clients with guidance on debt consolidation, credit counseling, and arrange payment plans for credit card debts and collection companies. They may also negotiate debt management plans with credit card companies to lower interest rates on outstanding debt.

Here's how credit counselors use debt management:

Collected all necessary documents regarding enrollment of clients into debt management and settlement programs in most timely and effective manner.
Prepared written action plans to communicate financial recommendations to consumers and contracts for enrollment in the optional debt management plan.

3. Outbound Calls

Outbound calls are phone calls made to a customer or prospect who has not initiated contact with the caller. Credit counselors use outbound calls to work with clients on personal budgeting, financial, and bankruptcy counseling. They also use outbound calls to prospect clients and set up settlements for customers.

Here's how credit counselors use outbound calls:

Managed an appropriate number of inbound or outbound calls, by limiting talk time and stayed focused on the task.
Answered inbound calls and made outbound calls, worked with clients on personal budgeting, financial and bankruptcy counseling.

4. Inbound Calls

Inbound calls are phone calls that come into a business or organization. Credit counselors use inbound calls to provide financial counseling and assistance to individuals in debt. They handle approximately 75 inbound calls a week from consumers with credit card debt, direct customers to appropriate departments, and determine the best resolve for the mortgage. They also establish new client bases through inbound calls and interact with new and existing customers to educate them on using company website tools.

Here's how credit counselors use inbound calls:

Received inbound calls on defaulted mortgages, directing customers to appropriate departments and determining the best resolve for the mortgage.
Worked in a call center, handled approximately 75 inbound calls a week from consumers with credit card debt.

5. Payment Arrangements

Payment arrangements are formal agreements between a creditor and a debtor that outline how a debt will be repaid. Credit counselors use payment arrangements to help their clients manage their debt. They determine the reason for delinquency, negotiate with creditors, and work with clients to counsel and secure satisfactory payment arrangements. They also offer extensions and alternative payment arrangements to help their clients resolve their debt. For example, a credit counselor might negotiate a payment plan with a creditor that allows a client to pay a reduced amount over a longer period of time.

Here's how credit counselors use payment arrangements:

6. Credit Reviews

A credit review is an examination and evaluation of a customer's credit record to determine their creditworthiness. Credit counselors use credit reviews to deliver accurate and efficient credit decisions, analyze existing customer accounts, and make recommendations for increasing or decreasing credit exposure. They also use credit reviews to process customer financing requests and ensure timely and comprehensive credit underwriting.

Here's how credit counselors use credit reviews:

Work directly with both customer representatives and customers in a fast paced environment to deliver accurate and efficient credit review decisions.
Performed weekly credit reviews for existing customer accounts that had expiring credit with Pacer or were having perceived financial difficulty.

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7. Delinquent Accounts

Delinquent accounts refer to unpaid debts or overdue bills. Credit counselors use delinquent accounts to negotiate with customers and collection agencies, and to consolidate multiple accounts into one monthly payment. They also use delinquent accounts to counsel debtors on repayments and to follow up with customers on overdue bills.

Here's how credit counselors use delinquent accounts:

Conducted credit collection procedures for commercial accounts, maintained accurate records and reported payments secured on delinquent accounts.
Communicated with customers and reviewed financial information to arrange mutually agreeable payment solutions for delinquent accounts.

8. Budget Analysis

Budget analysis is the process of evaluating a budget for its feasibility, accuracy, and effectiveness. Credit counselors use budget analysis to help clients manage their debt, assess their financial situations, and make recommendations to improve their financial health. They use this analysis to determine a client's debt capacity and evaluate their financial history. They also provide financial counseling and education to clients via phone or in-person, including a detailed budget analysis.

Here's how credit counselors use budget analysis:

Provided financial counseling and financial education to consumers in need via telephone or face-to- face, including a detailed budget analysis.
Advised potential consumer credit clients on available options based on budget analysis

9. Action Plan

An action plan is a detailed series of steps to achieve a goal. Credit counselors use action plans to assess clients' financial status and recommend solutions. They interview clients in person or over the phone to gather information, analyze data, and create an action plan to help clients pay off creditors or obtain permanent housing. They also use action plans to provide problem-solving direction for clients.

Here's how credit counselors use action plan:

Interviewed clients by phone or in person to assess financial status and recommend an action plan related to their goals.
Created action plans to assist clients in obtaining permanent housing via rent or mortgage programs.

10. Financial Education

Financial education refers to the process of learning about personal finances and money management. Credit counselors use financial education to help their clients make informed decisions about their financial well-being. They provide guidance, advocacy, and build rapport to help clients understand how to manage their finances better. Credit counselors may also offer financial education as needed to ensure their clients receive quality care and service.

11. Community Resources

Community resources are services that help individuals and families who are struggling. Credit counselors use community resources by educating their clients about them and referring them to these services. They may also connect clients to available community resources through established collaborations and referral systems.

Here's how credit counselors use community resources:

Educated consumers on other available community resources and credit management topics.
Referred consumers to social service or community resources for needs beyond those of budget and credit counseling.

12. Past Due Accounts

Past due accounts are accounts that have not been paid by the due date. Credit counselors use past due accounts to locate members for collection installments, damaged claims, and non-payable checks. They investigate and conduct research to locate customers with past due accounts. They also answer customers' calls regarding existing past due accounts and review the collection of past due accounts.

Here's how credit counselors use past due accounts:

Skip Trace: Locate members to collect installments, overdue accounts, damaged claims and non-payable checks.
Collected on past due accounts for credit card holders who accounts were past-due.

13. Interest Rates

Interest rates are the amounts charged as interest on a loan or investment. Credit counselors use interest rates to explain to clients how much they will pay for a loan or investment. They also negotiate with creditors to lower interest rates and payment adjustments. They advise clients on how to improve their credit scores to obtain better interest rates.

Here's how credit counselors use interest rates:

Explained interest rates, closing costs, and mortgage products to clients and encouraged their active input into the application process.
Negotiated with creditors on behalf of clients to arrange for payment adjustments, reduced interest rates and time extensions.

14. Customer Accounts

Customer accounts refer to a business's financial records of a customer's purchases and payments. Credit counselors use customer accounts to collect on past due bills, analyze accounts for integrity, and perform collections calls. They also use these accounts to improve processes and methods for handling complex and high-risk accounts. For example, they may analyze customer accounts to increase customer satisfaction through effective problem-solving and account reconciliation.

Here's how credit counselors use customer accounts:

Analyze customer accounts and take appropriate action to maintain receivables integrity.
Collect on Past Due customer accounts, including resolution of discrepancies.

15. Consumer Credit

Consumer credit refers to the credit given to consumers for the purpose of buying goods or services. Credit counselors use consumer credit to help clients resolve questions and concerns about the credit counseling process. They also facilitate consumer credit relations, negotiate problems, and establish and maintain trust funds. Moreover, credit counselors counsel clients regarding their consumer credit and work with them to create repayment plans for their debts.

Here's how credit counselors use consumer credit:

Received 100+ inbound telephone calls daily and helped clients resolve any questions or concerns about the consumer credit counseling process.
Facilitated consumer credit relations including negotiations, problem solutions, establishment and maintenance of client's trust fund.

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