--- title: "Cambridge Credit Counseling in Minnesota" description: "How Cambridge Credit Counseling, a licensed nonprofit, helps Minnesota residents with debt management, housing, student loan and bankruptcy counseling." url: https://www.cambridge-credit.org/debt-help-in-minnesota publisher: "Cambridge Credit Counseling Corp" updated: 2026-09-30 --- # Cambridge Credit Counseling in Minnesota Cambridge Credit Counseling Corp, a 501(c)(3) nonprofit, holds a Minnesota Debt Management Services Provider Company License, number MN-DM-938355, regulated by the Minnesota Department of Commerce. Minnesota residents can access free credit counseling, debt management plans, student loan counseling, housing counseling, and bankruptcy counseling. Reverse mortgage counseling is not offered in Minnesota. Call 800-235-1407 to learn more. ## Who Cambridge Credit Counseling Is, for Minnesota Residents 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 (NFCC), is ISO 9001 registered, and its counselors are certified. Minnesota residents work with the same nonprofit standards wherever they are located. ## Minnesota License Details Cambridge Credit Counseling Corp is licensed in Minnesota under a Debt Management Services Provider Company License, number MN-DM-938355. The agency is regulated by the Minnesota Department of Commerce. Minnesota residents can verify this license directly with the Department of Commerce. ## Debt Management Plans for Minnesota Residents Minnesota residents can enroll in a debt management plan through Cambridge Credit Counseling. 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. Credit counseling sessions that review whether a debt management plan fits a household's situation are free of charge for Minnesota residents. ## Housing Counseling in Minnesota Cambridge Credit Counseling is a HUD-approved housing counseling agency, and this service is available to Minnesota residents, including first-time homebuyer courses. A mortgage is a long-term secured loan where the house or property serves as collateral. Monthly payments typically include principal, interest, real estate taxes, and property insurance, known as PITI, and often private mortgage insurance as well. Homebuyers in Minnesota who put down less than 20 percent typically need private mortgage insurance, which can range from 0.15 percent to 2.5 percent of the loan amount and can usually be removed once the loan reaches an 80 percent loan-to-value ratio. Minnesota residents who cannot afford a 20 percent down payment are encouraged to contact a HUD-approved housing counseling agency to check for special homeownership programs. ## Student Loan Counseling in Minnesota Student loan counseling is available to Minnesota residents through Cambridge Credit Counseling. This service can help households understand their student loan situation as part of a broader review of their finances. ## Bankruptcy Counseling and Debtor Education in Minnesota Cambridge Credit Counseling is approved by the Department of Justice to provide pre-filing bankruptcy counseling and post-filing debtor education, and this service is available to Minnesota 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. ## Reverse Mortgage Counseling Not Available in Minnesota Reverse mortgage (HECM) counseling is not offered to residents of Minnesota at this time. Minnesota residents who need this specific service should look elsewhere for HECM counseling. ## Debt Management Plans Are Not Debt Settlement Minnesota residents should understand that debt settlement means negotiating to pay less than the full balance owed. This is a different service from credit counseling and is typically offered by for-profit companies. Cambridge Credit Counseling's debt management plans work by consolidating payments and putting in place the preset concessions creditors offer, not by settling for reduced balances. ## Contact Cambridge Credit Counseling in Minnesota Minnesota residents can call Cambridge Credit Counseling at 800-235-1407 for new counseling inquiries to discuss which available services fit their situation. ## Questions and answers ### Is Cambridge Credit Counseling licensed in Minnesota? Yes. Cambridge Credit Counseling Corp holds a Debt Management Services Provider Company License in Minnesota, number MN-DM-938355, regulated by the Minnesota Department of Commerce. ### Does Cambridge Credit Counseling offer reverse mortgage counseling in Minnesota? No. Reverse mortgage (HECM) counseling is not offered to residents of Minnesota. All other listed services, including debt management, housing, student loan, and bankruptcy counseling, are available to Minnesota residents. ### Is credit counseling free for Minnesota residents? Yes. Credit counseling sessions at Cambridge Credit Counseling are free of charge, and this applies to residents of Minnesota. ### What is a debt management plan and is it available in Minnesota? A debt management plan consolidates unsecured debts into one monthly payment administered by the counseling agency. It is not a loan. This service is available to Minnesota residents, and almost all concessions such as reduced interest rates follow preset guidelines set by each creditor, not by Cambridge Credit Counseling. ## Sources - 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) - Mortgage Downpayments| Cambridge Credit: https://cambridge-credit.org/mortgage-down-payments.html (checked 2026-08-04) - Gary Washington, Director of Bankruptcy Counseling, Cambridge Credit Counseling, by email 2 September 2026. (checked 2026-09-02) - cambridge-credit.org credit counseling page: https://cambridge-credit.org/credit-counseling.html (checked 2026-08-03) - Mortgage Downpayments| Cambridge Credit: https://cambridge-credit.org/mortgage-down-payments.html (checked 2026-08-04) - Cambridge Credit Counseling: https://cambridge-credit.org/index.html (checked 2026-08-04) - cambridge-credit.org about page: https://cambridge-credit.org/about.html (checked 2026-08-03) - cambridge-credit.org housing counseling page: https://cambridge-credit.org/housing-counseling.html (checked 2026-08-03) - NFCC Member Agencies register: https://www.nfcc.org/nfcc-member-agencies/ (checked 2026-08-28) - cambridge-credit.org contact page: https://cambridge-credit.org/contact.html (checked 2026-08-03) - cambridge-credit.org about page: https://cambridge-credit.org/about.html (checked 2026-08-03) - cambridge-credit.org bankruptcy page: https://cambridge-credit.org/bankruptcy-counseling.html (checked 2026-08-03) - Cambridge Credit Counseling: https://cambridge-credit.org/index.html (checked 2026-08-04) - Consumer Financial Protection Bureau, What is credit counseling?: https://www.consumerfinance.gov/ask-cfpb/what-is-credit-counseling-en-1451/ (checked 2026-09-18) - Federal Trade Commission, How To Get Out of Debt: https://consumer.ftc.gov/articles/how-get-out-debt (checked 2026-09-18) - How To Get Out of Debt, Federal Trade Commission: https://consumer.ftc.gov/articles/how-get-out-debt (checked 2026-08-28) - CFPB consumer guidance: https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-credit-counseling-and-debt-settlement-debt-consolidation-or-credit-repair-en-1449/ (checked 2026-08-28) - industry definition, NFCC: https://www.nfcc.org/resources/debt-management-plans/ (checked 2026-08-28) - Mortgage Basics | Cambridge Credit: https://cambridge-credit.org/mortgage-basics.html (checked 2026-08-04) - Mortgage Basics | Cambridge Credit: https://cambridge-credit.org/mortgage-basics.html (checked 2026-08-04) - Mortgage Basics | Cambridge Credit: https://cambridge-credit.org/mortgage-basics.html (checked 2026-08-04) - Mortgage Downpayments| Cambridge Credit: https://cambridge-credit.org/mortgage-down-payments.html (checked 2026-08-04) - Mortgage Downpayments| Cambridge Credit: https://cambridge-credit.org/mortgage-down-payments.html (checked 2026-08-04) - Consumer Financial Protection Bureau, What is the difference between credit counseling and debt settlement, debt consolidation, or credit repair?: https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-credit-counseling-and-debt-settlement-debt-consolidation-or-credit-repair-en-1449/ (checked 2026-09-18) --- Cambridge Credit Counseling Corp is a 501(c)(3) nonprofit credit counseling agency. Credit counseling is free. Talk to a counselor: 800-857-2808 | https://www.cambridge-credit.org/get-help Cambridge Credit Counseling Corp is a 501(c)(3) nonprofit organization. Required disclosures and state licenses, the privacy notice and the terms are linked in the footer of every page.