Consumer credit certification (29620)


A consumer credit adviser is responsible for the counsel of customers who are experiencing a variety of problems brought about by their finances. He gives recommendations and guidance to his clients on how they should handle their finances on issues such as mortgages, credit cards, the benefits that a company has to offer such as welfare. He also assists clients on how to deal with their debts and, most importantly, how they can become debt-free.


A certified consumer credit counselor must have a bachelor's degree in either Business or Economics. It is also advisable for her to be trained in federal as well as the state laws on issues pertaining to the banking, financing and lending. A consumer credit adviser must be certified. She must undertake a certification exam in order to qualify to work as a consumer credit adviser. It is also very necessary to have experience in the financial as well as the counseling fields .

Certification Specialization

Choose the particular kind of credit card adviser certification you are interested in. Some certifications allow you to be an adviser in a particular field only like certified debt counseling manager, while others are more general like a certified debt counselor. You can explore your options by visiting various organizations that provide certification. These include the National Foundation for Credit Counseling (NFCC), Association for Financial Counseling and Planning Education (AFCPE), Credit Counseling Foundation, Association of Independent Consumer Credit Counseling Agencies (AICCCA), the Center for Financial Certifications, National Institute for Financial Education of America (NIFE), or National Association of Certified Credit Counselors (NACCC) and National Foundation for Credit Counseling (NFCC).

Application for Certification

Requirements for certification vary depending on the certifying body. Most agencies will require that you take certification exams and fill out application forms. Registration/application forms are available online. The training is also done online. Once you complete the course, you are not required to take renewal courses, rather, you become a member of the agency and receive continual support.

Responsibilities and Duties

Some common responsibilities that financial advisers have to undertake include: Assessing a clients financial situation, notifying the clients on their situation and finding ways to assist them. She is also responsible for carrying out negotiations on behalf of the client for new schedules of payments and helping her clients come up with a plan and budget for their finances.

Desirable Skills

It is important that you have good social and interpersonal skills, and a passion to assist people with their financial situations. It is also necessary to have excellent spoken and written communication skills, organizational skills as well as know how to use computers.

Job Outlook and Compensation

There is expected to be a 20 percent growth between the year 2008 and the year 2018 for financial advisers. This is because many people will require advice on how to make investments and manage their resources. According to PayScale, a certified consumer credit adviser receives an hourly pay that ranges from between $12.23 to $17.02. Inclusive of employee bonuses and overtime work that he may decide to put in, he could earn an annual total pay that ranges between $28,131 and $39,126 per year as of July 2010. How much he earns is also determined by the company he is working for. Different companies have different pay rates .