Older people, particularly retirees, are entering the field of credit counseling.

Counselors have typically been young, about 30 on average, but according to David Jones, the president of the American Association of Independent Consumer Credit Counseling Agencies, more older people are entering the field.

If a wealth management client with a background in financial or social services is looking for a way to earn extra income, debt counseling could be an option.

The customers should get older, too, as Americans age, and with a gap in retirement savings estimated at more than $6 trillion, retirees may feel motivated to help their cohorts.

Credit counselors earn an average of $27,000 a year. A legitimate credit counseling agency should charge their customers little or nothing for significant help. Counselors help a customer consolidate debt into one lower payment, avoiding bankruptcy, or help to determine if bankruptcy is the best option. If the client is considering bankruptcy, it will include an overview of the bankruptcy process, discussing the pros and cons of alternatives and analyzing the client's budget. Counselors need to be comfortable talking about emotional money issues and why the applicant fell into money troubles.

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