Cambridge Credit Counseling Services for Alabama Residents

Alabama License and Regulator#

Cambridge Credit Counseling Corp is licensed in Alabama as a Money Transmitter, license number MT#374, and is regulated by the Alabama Securities Commission. Alabama residents can verify this license directly with the Commission.

Services Available to Alabama Residents#

• Debt management plans and credit counseling
• Student loan counseling
• Housing counseling, including first-time homebuyer courses
• Reverse mortgage (HECM) counseling

Cambridge Credit Counseling is a member of the National Foundation for Credit Counseling and is a HUD-approved housing counseling agency. Credit counseling sessions are free of charge for Alabama residents.

Services Not Available in Alabama#

Bankruptcy counseling and debtor education certificates are not available to Alabama residents at this time. Bankruptcy certificates fall outside Cambridge Credit Counseling’s current EOUST approval for this state, so Alabama residents cannot obtain these certificates through Cambridge Credit Counseling.

Approval by the U.S. Department of Justice Executive Office of United States Trustees does not endorse or assure the quality of our services.

How a Debt Management Plan Works for Alabama Residents#

A debt management plan consolidates unsecured debts into one monthly payment administered by the counseling agency. It is not a loan and does not involve borrowing new money. Almost all concessions such as reduced interest rates or waived fees follow preset guidelines set by each creditor, not by Cambridge Credit Counseling. In some cases they can vary based on the level of hardship in the budget, and certain accounts may not be eligible for them. This is different from debt settlement, which means negotiating to pay less than the full balance owed and is typically offered by for-profit companies, not Cambridge Credit Counseling.

Housing Counseling for Alabama Homeowners#

Cambridge Credit Counseling is a HUD-approved housing counseling agency serving Alabama residents. A mortgage is a long-term secured loan where the house serves as collateral, and a monthly payment typically includes principal, interest, taxes, and insurance, known as PITI, often with private mortgage insurance added. Homebuyers who put down less than 20 percent of the home cost are usually required to carry private mortgage insurance, which can range from 0.15 percent to 2.5 percent of the loan amount depending on the lender. Under the federal Homeowners Protection Act, a homeowner with a conventional loan may ask the loan servicer in writing to cancel private mortgage insurance (PMI) once the loan balance reaches 80 percent of the home’s original value. To qualify, the homeowner must have a good payment history, be current on payments, and certify that there are no junior liens (such as a second mortgage) on the home. The lender may also require proof that the home’s value has not fallen below its original value. PMI must also be automatically terminated, without the homeowner having to request it, on the date the loan balance is scheduled to reach 78 percent of the original value. For PMI to end on that date, payments must be current; otherwise, it ends shortly after they are brought up to date. These rules apply to most conventional loans made on or after July 29, 1999, for a single-family home that is the owner’s main home; FHA loans have different rules. Alabama residents who cannot afford a 20 percent down payment can contact Cambridge Credit Counseling’s HUD-approved housing counseling service to see if they qualify for programs that help toward homeownership.

Contacting Cambridge Credit Counseling in Alabama#

Alabama residents can reach Cambridge Credit Counseling for new counseling inquiries at 800-857-2808. Cambridge Credit Counseling counselors are certified, and the agency is ISO 9001 registered.

Common questions

Is Cambridge Credit Counseling licensed in Alabama?

Yes. Cambridge Credit Counseling Corp holds Money Transmitter License MT#374, regulated by the Alabama Securities Commission.

Can Alabama residents get bankruptcy counseling from Cambridge Credit Counseling?

No. Bankruptcy counseling and debtor education certificates are not available to Alabama residents because this falls outside Cambridge Credit Counseling's current EOUST approval for the state.

Does Cambridge Credit Counseling charge for credit counseling in Alabama?

No. Credit counseling sessions from Cambridge Credit Counseling are free of charge for Alabama residents.

What housing help can Alabama residents get from Cambridge Credit Counseling?

Cambridge Credit Counseling is a HUD-approved housing counseling agency offering Alabama residents first-time homebuyer courses and reverse mortgage counseling.

Where this information comes from

• John Henle, Cambridge Credit Counseling, email of 24 September 2026; 28 CFR 58.21(b)(1) and 58.34(b)(1) Checked 2026-09-24.
• Gary Washington, Director of Bankruptcy Counseling, Cambridge Credit Counseling, by email 2 September 2026. Checked 2026-09-02.
• NFCC Member Agencies register nfcc.org Checked 2026-08-28.
• How To Get Out of Debt, Federal Trade Commission consumer.ftc.gov Checked 2026-08-28.
• industry definition, NFCC nfcc.org Checked 2026-08-28.
• CFPB consumer guidance consumerfinance.gov Checked 2026-08-28.
• Federal Trade Commission, How To Get Out of Debt consumer.ftc.gov Checked 2026-09-18.
• Less Than 20% Down on a House? Cambridge Credit Counseling Explains (Cambridge Credit Counseling’s own information).
• Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
• Nonprofit Credit Counseling at Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
• About Cambridge Credit Counseling | Nonprofit (Cambridge Credit Counseling’s own information).
• HUD-Approved Housing Counseling from Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
• Contact Cambridge Credit Counseling | Offices, Departments and Hours (Cambridge Credit Counseling’s own information).
• Bankruptcy Counseling and Debtor Education at Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).