Consumer credit counselor vs loan counselor

The differences between consumer credit counselors and loan counselors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a consumer credit counselor and a loan counselor. Additionally, a consumer credit counselor has an average salary of $59,491, which is higher than the $49,002 average annual salary of a loan counselor.

The top three skills for a consumer credit counselor include inbound calls, debt management and consumer credit. The most important skills for a loan counselor are phone calls, payment arrangements, and federal regulations.

Consumer credit counselor vs loan counselor overview

	Consumer Credit Counselor	Loan Counselor
Yearly salary	$59,491	$49,002
Hourly rate	$28.60	$23.56
Growth rate	-	4%
Number of jobs	34,014	35,925
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 57%	Bachelor's Degree, 49%
Average age	45	45
Years of experience	2	2

Consumer credit counselor vs loan counselor salary

Consumer credit counselors and loan counselors have different pay scales, as shown below.

	Consumer Credit Counselor	Loan Counselor
Average salary	$59,491	$49,002
Salary range	Between $37,000 And $94,000	Between $37,000 And $63,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Mortgage Inv. Group
Best paying industry	-	Finance

Differences between consumer credit counselor and loan counselor education

There are a few differences between a consumer credit counselor and a loan counselor in terms of educational background:

	Consumer Credit Counselor	Loan Counselor
Most common degree	Bachelor's Degree, 57%	Bachelor's Degree, 49%
Most common major	Business	Business
Most common college	University of Pennsylvania	Stanford University

Consumer credit counselor vs loan counselor demographics

Here are the differences between consumer credit counselors' and loan counselors' demographics:

	Consumer Credit Counselor	Loan Counselor
Average age	45	45
Gender ratio	Male, 36.1% Female, 63.9%	Male, 37.1% Female, 62.9%
Race ratio	Black or African American, 8.9% Unknown, 4.7% Hispanic or Latino, 14.4% Asian, 7.1% White, 64.4% American Indian and Alaska Native, 0.5%	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between consumer credit counselor and loan counselor duties and responsibilities

Consumer credit counselor example responsibilities.

Manage counsel for all IP and employment matters.
Implement localization of subscription license agreement and IP in Mexico and Brazil.
Assist with counseling clients that are in foreclosure referring them to programs within the company and other agencies.
Assist borrower in filling out various foreclosure prevention documents.
Develop and handle all aspects of litigation in Connecticut.
Remain non-denominational, open, flexible and ecumenical in service to patients while also providing additional resources from local spiritual communities.

Loan counselor example responsibilities.

Manage portfolio of GSE assets that are actively pursuing liquidation or retention options to cure default.
Experience in SBA underwriting that has produce SBA loan approval.
Perform account reviews to ensure associates perform logical progressions of collection efforts and maintain FDCPA guidelines.
Provide early delinquency counseling to CalHFA customers who have conventional or FHA type of loans.
Exercise servicing standards put in place by the FHA, VA, USDA and other private labels.
Resolve accounts using effective negotiating tools and appropriate system documentation in accordance with FDCPA and company's guidelines.

Consumer credit counselor vs loan counselor skills

Common consumer credit counselor skills

Inbound Calls, 10%
Debt Management, 9%
Consumer Credit, 8%
Medication Administration, 7%
Action Plan, 7%
Payment Arrangements, 5%

Common loan counselor skills

Phone Calls, 14%
Payment Arrangements, 12%
Federal Regulations, 8%
Outbound Collection Calls, 6%
Inbound Calls, 6%
FDCPA, 4%

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Business and Financial Industry
Consumer Credit Counselor
Consumer Credit Counselor vs Loan Counselor

Updated January 8, 2025

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