Debt counselor vs credit counselor

The differences between debt counselors and credit 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 debt counselor and a credit counselor. Additionally, a credit counselor has an average salary of $40,227, which is higher than the $37,932 average annual salary of a debt counselor.

The top three skills for a debt counselor include outbound calls, inbound calls and customer service. The most important skills for a credit counselor are customer service, debt management, and outbound calls.

Debt counselor vs credit counselor overview

	Debt Counselor	Credit Counselor
Yearly salary	$37,932	$40,227
Hourly rate	$18.24	$19.34
Growth rate	-8%	-8%
Number of jobs	27,258	32,221
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 47%
Average age	45	45
Years of experience	2	2

Debt counselor vs credit counselor salary

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

	Debt Counselor	Credit Counselor
Average salary	$37,932	$40,227
Salary range	Between $27,000 And $51,000	Between $27,000 And $59,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	BNY Mellon
Best paying industry	-	Finance

Differences between debt counselor and credit counselor education

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

	Debt Counselor	Credit Counselor
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 47%
Most common major	Business	Business
Most common college	-	University of Pennsylvania

Debt counselor vs credit counselor demographics

Here are the differences between debt counselors' and credit counselors' demographics:

	Debt Counselor	Credit Counselor
Average age	45	45
Gender ratio	Male, 46.8% Female, 53.2%	Male, 41.2% Female, 58.8%
Race ratio	Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.1% White, 63.4% 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 debt counselor and credit counselor duties and responsibilities

Debt counselor example responsibilities.

Manage patient focuse reports, collection modules, provider/facility A/R, collections, patient discharge letters.
Comply with all of the FDCPA guidelines.
Perform numerous acts of repossession and litigation on a daily basis.
Complete standard legal garnishment forms for review, and forward to litigation department.
Provide administrative support by the filing electronic claims to Medicare, Medicaid and private insurers for emergency and non-emergency transports.
Utilize FDCRA and NFCC guidelines.

Credit counselor example responsibilities.

Manage accounting operations, accounting close, account reporting and reconciliations.
Conduct underwriting reviews on FHA, VA, and other conforming and non-conforming loans within proper authority limits.
Gain thorough knowledge of FDCPA laws.
Complete in-service trainings, CPR training and medication certification course.
Determine services and assistance need through individual counseling for credit cards and for clients that are at risk for foreclosure.
Perform comprehensive financial assessment of homeowners facing financial crisis and at risk of foreclosure.

Debt counselor vs credit counselor skills

Common debt counselor skills

Outbound Calls, 20%
Inbound Calls, 15%
Customer Service, 14%
Delinquent Accounts, 9%
Payment Arrangements, 6%
Credit Reports, 4%

Common credit counselor skills

Customer Service, 19%
Debt Management, 14%
Outbound Calls, 10%
Inbound Calls, 8%
Payment Arrangements, 4%
Credit Reviews, 4%