Cambridge Credit Counseling in Maryland

Cambridge Credit Counseling’s Maryland License#

Cambridge Credit Counseling Corp holds a Debt Management Services License in Maryland, number 938355, regulated by the Maryland Office of Financial Regulation. Maryland residents can verify this license directly with the regulator.

Services Available to Maryland Residents#

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

Credit counseling sessions for Maryland residents are free of charge.

How Debt Management Plans Work for Maryland 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. On a debt management plan, 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. Maryland residents considering this option can discuss whether it fits their situation with a certified counselor.

Housing and Homebuyer Help for Maryland Residents#

Maryland residents can receive housing counseling, including first-time homebuyer courses, from Cambridge Credit Counseling, a HUD-approved housing counseling agency. A mortgage is a long-term secured loan in which the home serves as collateral. A monthly mortgage payment typically includes principal, interest, real estate taxes, and property insurance, known as PITI, and often private mortgage insurance as well.

Homebuyers in Maryland who put down less than 20 percent are usually required to carry private mortgage insurance, which protects the lender if the borrower defaults. This cost can range from 0.15 percent to 2.5 percent of the loan amount. 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. Maryland residents who cannot afford a 20 percent down payment are encouraged to contact a HUD-approved housing counseling agency, which can assess their situation and check for programs that may help toward homeownership.

Bankruptcy Counseling and Debtor Education in Maryland#

Cambridge Credit Counseling is approved by the Department of Justice to provide pre-filing bankruptcy counseling and post-filing debtor education for Maryland residents. Bankruptcy counseling and debtor education each cost $50.00 per household per session and are available free or at a reduced rate based on ability to pay. The fee is per household, not per person, so a married couple filing together pays once. Households with income below 150 percent of the federal poverty guidelines for their household size are presumed eligible for a fee waiver. Households above that line may still qualify for a reduced fee if they can show a temporary financial hardship, such as a recent job loss or drop in income, unexpected medical costs, disability, separation or divorce, the death of a household wage earner, or another documented financial circumstance that significantly impacts the household’s ability to pay. Waivers and reductions are assessed on the household’s current income, expenses and overall financial condition, and Cambridge Credit Counseling will not refuse services to anyone due to inability to pay.

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

What Cambridge Credit Counseling Does Not Offer in Maryland#

Cambridge Credit Counseling does not provide debt settlement services to Maryland residents. Debt settlement means negotiating to pay less than the full balance owed. It is a different service from credit counseling and is typically offered by for-profit companies, not by Cambridge Credit Counseling.

About Cambridge Credit Counseling#

Cambridge Credit Counseling Corp is a 501(c)(3) nonprofit organization founded in 1996 and headquartered in Agawam, Massachusetts. The agency is a member of the National Foundation for Credit Counseling, is HUD-approved for housing counseling, and is ISO 9001 registered. Counselors serving Maryland residents are certified.

Contact Cambridge Credit Counseling in Maryland#

Maryland residents can reach Cambridge Credit Counseling for new counseling inquiries at 800-857-2808.

Common questions

Is Cambridge Credit Counseling licensed to serve Maryland residents?

Yes. Cambridge Credit Counseling holds a Debt Management Services License, number 938355, regulated by the Maryland Office of Financial Regulation.

Does Cambridge Credit Counseling charge Maryland residents for credit counseling?

No. Credit counseling sessions are free of charge for Maryland residents.

Can Maryland residents get help with foreclosure or buying a first home?

Yes. Cambridge Credit Counseling is a HUD-approved housing counseling agency and offers first-time homebuyer courses to Maryland residents. Cambridge Credit Counseling provides foreclosure help only to residents of Massachusetts, Connecticut, New York, Missouri and Kansas, so Maryland homeowners facing foreclosure can find a HUD-approved housing counselor in their area at HUD.gov.

Does Cambridge Credit Counseling offer debt settlement in Maryland?

No. Cambridge Credit Counseling does not offer debt settlement to Maryland residents. Debt settlement is a different service, typically offered by for-profit companies, and involves negotiating to pay less than the full balance owed.

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).