Salary for Credit Counselors

Also known as:  Credit Counselor, Debt Management Counselor, Financial Assistance Advisor, Loan Counselor

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When individuals and institutions are overburdened by debt, credit counseling provides an option for resolving their financial situation. Credit counselors assist their clients in establishing payment plans, consolidating debt with a loan or loans, creating budgets, and negotiating with creditors on behalf of their clients in order to reduce debt or interest rates, or increase the allotted payment time. Individuals in this profession may work on a contractual basis, and may be bound by the rules of debt management programs for which they work. They may also be responsible for educating clients regarding the rules and policies of their employers.

A Credit Counselor usually gets salaries of somewhere between 32000 - 48000 depending on seniority levels. Credit Counselors will most likely receive average salaries of Forty One Thousand Six Hundred dollars each year.

Credit Counselors can obtain the highest pay in Maine, where they earn average compensation of about $53610. Employees with these job titles are paid at the highest level in Public Administration, where they get average pay levels of $49940.

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The national wage distribution is shown below. To overlay local salaries for a Credit Counselor, please select your state.
ANNUAL SALARY
HOURLY RATE
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SALARY TREND
The annual compensation for this career has gone up since 2004. Salaries have increased by an average of 7.34 percent nationwide in that time.
INDUSTRIES
Credit Counselors tend to make the most in the following industries
Retail Trade $49,940
Public Administration $45,280
Finance and Insurance $43,500
Construction $43,040
Management of Companies and Enterprises $42,930
Other Services (except Public Administration) $41,710
In general, they earn less within the industries below
Health Care and Social Assistance $36,660
Administrative, Support and Waste Management Services $36,820
Professional, Scientific, and Technical Services $39,200
Real Estate and Rental and Leasing $40,050
Educational Services $41,640
Other Services (except Public Administration) $41,710
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