Credit Counselor
Career review from a person working in the job
How I Got The Job
My Education: BA in Business Administration, Iowa State University
My Prior Experience: I started in sales for a financial institution that specialized in helping the customer attain a higher credit score.
My Job Profile
My Company: My company helps people get out of debt by successfully negotiating a lower interest rate on a customer's credit cards or on any type of bank loan. Then we consolidate all of their debt into one manageable monthly payment that the customer can handle.
Job/Career Overview: My job is really simple: to help consumers get out of debt in the quickest way possible and to help them to repair their credit worthiness. We do this by first having a sit-down consultation with a customer in which we go over their entire financial situation. The customer supplies us with all of their financial records, and I then contact the lenders and negotiate a better interest rate on their loans.
After negotiating with the lenders we combine the customer's entire debt and consolidate it into one easy monthly payment. This is usually designed to get them out of debt within 3-5 years. Most customers on average take around 5 years if they stick to the plan and do not miss a payment.
Banks are very eager to work with us because the only other option for the consumer is bankruptcy. Although the banks do not receive all the money back including interest, at least they recover most of the money and do not lose out which is what would happen if the customer filed for bankruptcy.
Love It? Hate It?
I rate this career 8 out of 10.
What I Love or Hate
The best part of my job by far is helping people get back on track with a monthly payment that they can afford. Before they come to me, these customers are in so much debt that each month they have no clue who to pay first.
The worst part of my job is when the person owes so much money and I come back with a monthly payment the customer just cannot afford. That's when panic sets in, and the next step is usually to file for bankruptcy.
My Career Tips
First and foremost you have to really want to help people and have a positive attitude. I would take a course in public speaking so you understand how to grab a persons attention in a confident manner. They need to be able to trust you and someone who is not confident will not be successful. It's all in your mind and believing that you can be successful in whatever you do is crucial, and it starts with confidence and a belief in yourself.
