"Cambridge is dedicated to promoting a more knowledgeable and financially responsible America: by teaching sound money management practices; by assisting financially distressed individuals and families through appropriate counseling, education and advice; and by providing people with information and resources needed to attain, maintain and sustain housing."
Cambridge Credit Counseling is a 501(c)(3) non-profit credit and housing counseling agency, established in 1996. We have been providing credit counseling and financial literacy education to consumers nationwide since our inception. To complement these established credit counseling services and in response to the needs of our community, we have developed a number of housing counseling programs over the past two years. These services were approved by the U.S. Department of Housing and Urban Development in 2009, and our reverse mortgage counseling services were approved by the Massachusetts Executive Office of Elder Affairs in 2010.
Our counselors have an average of 14 years of employment with Cambridge and, in that time, have acquired and maintained national certifications through the Association for Financial Counseling and Planning Education, the Partnership for Financial Education, NeighborWorks, and the United States Department of Housing and Urban Development. Considering their experience, knowle dge and dedication, we consider our counselors to be experts in the financial counseling field.
Credit Counseling is a FREE SERVICE that we offer to consumers who are having difficulty paying their credit card, and other unsecured bills. The purpose of a credit counseling session is to identify the reasons someone is having trouble paying their bills. Our nationally and independently-certified credit counselors will analyze all income and expenses and come up with a personalized action plan based on that person’s unique situation. If this FREE DEBT ANALYSIS indicates that the consumer will benefit from enrollment on our Debt Management Plan, only then will the credit counselor offer one. There is never any obligation to enroll in a Debt Management Plan after a Credit Counseling session. Learn more about Credit Counseling.
After one of our certified credit counselors performs a thorough review of a consumer’s finances, and only if the consumer will benefit from it and can afford the payments, a debt management plan may be offered as a possible solution. Consumers who enroll in a debt management plan will make one simple monthly payment to Cambridge and we will send out payments to each of the creditors included on the plan. Creditors often offer certain benefits to help these consumers get out of debt quickly and with as little cost as possible. Our average debt management plan client saves 25% on their monthly credit card payments and are debt free in around 50 months. Learn more about Debt Management Plans.
Cambridge is approved by the U.S. Department of Housing and Urban Development (HUD) to provide a variety of housing-related counseling services throughout the country. These services include Foreclosure Intervention & Default Counseling, rental counseling, and First-Time Homebuyer Courses. Learn more about Housing Counseling.