Credit counseling is designed to help people get out of debt and provide the education they need to stay debt free for life. Often, simple changes in your spending habits will have a dramatic effect on your ability to control your debt issues, and a credit counselor will help you identify those areas of concern. A counselor will review your income and expenses and determine whether or not a debt relief option is in your best interest. If it is determined that our program can help, and you choose to enroll, you’ll enjoy a variety of benefits – all designed to help you get out of debt much faster than you could on your own making the minimum payments on your accounts.
OK, here’s how it works: If you become a credit counseling client, you’ll make one payment to Cambridge and we will disburse individual payments to each of the creditors you’ve included on our program. As a result of your enrollment with our agency, your creditors can offer certain benefits to help you get out of debt faster, while often saving you money in the process. One of the most significant benefits that creditors typically extend is a reduction in your credit card interest rates. In fact, our typical clients’ interest rates are reduced by an average of 14 points – reduced from an average of 22% down to just 8%. These interest rate reductions will also allow many of our new clients to save money, too. Our typical clients save an average of nearly $150 per month due to these interest rate reductions. There are many other benefits to enrollment in our program and your counselor will discuss them with you during your free consultation.
When you speak with one of our credit counselors, they’ll conduct a thorough review of your income and expenses and work with you to identify areas of concern and any factors that have contributed to your situation. Your credit counselor can also help you develop short- and long-term goals, such as building savings to cover your living expenses, saving for retirement, or setting aside funds for your child’s education. Your counselor will also make you aware of the various options that may be appropriate to your unique circumstances.
Cambridge has been providing credit counseling and financial education services nationwide since our inception in 1996. Our nationally certified counselors are among the most respected in the profession, averaging more than 11 years’ experience. Cambridge is a 501(c)(3) non-profit agency with an A+ Better Business Bureau rating, and we’re proud to be the top-rated credit counseling agency by ConsumerAffairs.com. Cambridge is also a HUD-approved housing counseling agency, and we provide both bankruptcy and reverse mortgage counseling services. For a complete listing of license information, please visit our credit counseling disclosures page.
Please note that we are NOT A LOAN COMPANY. We do not lend money. Cambridge Credit Counseling Corp. is a VT and MS Licensed Debt Management Service Provider. We are also licensed by the NY State Department of Financial Services. In MS, our license number is 22/2013, while in Oregon our license number is DM-80020. Our MD Debt Management Registration number is 14-42. Cambridge is also licensed and/or conducting business in: AL, AK, AR, AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MA, MI, MT, MO, NE, NH, NJ, NV, NM, NC, ND, OH, OK, PA, SC, SD, TN, TX, UT, WA, WV and WY. Additional licensing information is available upon request. Establishment of a plan may adversely affect your credit rating or credit score and may make it more difficult to obtain credit. As always, nonpayment of debt at any time may lead your creditors to increase finance and other charges or undertake collection activity, including litigation. State-regulated fees may apply for debt management plans