--- title: "Cambridge Credit Counseling Services for New Mexico Residents" description: "Cambridge Credit Counseling, a nonprofit, offers free credit counseling, debt management plans, housing and student loan help to New Mexico residents." url: https://www.cambridge-credit.org/debt-help-in-new-mexico publisher: "Cambridge Credit Counseling Corp" updated: 2026-09-29 --- # Cambridge Credit Counseling Services for New Mexico Residents Cambridge Credit Counseling Corp is a nonprofit agency that offers New Mexico residents free credit counseling, debt management plans, housing counseling, student loan counseling, reverse mortgage counseling, and bankruptcy counseling and debtor education. Each service is explained below so you can decide what fits your situation. ## Credit Counseling and Debt Management Plans in New Mexico New Mexico residents can get a free credit counseling session from Cambridge Credit Counseling. A counselor reviews your budget and debts and explains options, including a debt management plan. A debt management plan consolidates unsecured debts into one monthly payment handled by the 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. ## Housing Counseling for New Mexico Homeowners Cambridge Credit Counseling is a HUD-approved housing counseling agency, and this service is available to New Mexico residents. It includes first-time homebuyer courses. A mortgage is a long-term secured loan where the home serves as collateral, and monthly payments typically include principal, interest, taxes, and insurance, known as PITI. Homebuyers who put down less than 20 percent usually need private mortgage insurance, which can often be dropped once the loan reaches 80 percent of the home's value. New Mexico residents who cannot afford a full 20 percent down payment can talk with a HUD-approved housing counselor about programs that may help. ## Student Loan Counseling in New Mexico Student loan counseling is available to New Mexico residents through Cambridge Credit Counseling. A counselor can walk through your federal and private student loan situation and go over the options that may apply to your circumstances. ## Reverse Mortgage Counseling in New Mexico New Mexico residents age 62 and older who are considering a reverse mortgage, also known as a HECM, can receive counseling on this option from Cambridge Credit Counseling before making a decision. ## Bankruptcy Counseling and Debtor Education in New Mexico Cambridge Credit Counseling is approved by the Department of Justice to provide pre-filing bankruptcy counseling and post-filing debtor education, and both are available to New Mexico 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 New Mexico Cambridge Credit Counseling does not offer debt settlement to New Mexico 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 nonprofit credit counseling agencies like Cambridge Credit Counseling. ## About Cambridge Credit Counseling Cambridge Credit Counseling Corp is a 501(c)(3) nonprofit founded in 1996 and headquartered in Agawam, Massachusetts. It is a member of the National Foundation for Credit Counseling, its counselors are certified, and the agency is ISO 9001 registered. New Mexico residents can reach Cambridge Credit Counseling for new counseling inquiries at 800-235-1407. ## Questions and answers ### Is credit counseling free for New Mexico residents? Yes. Credit counseling sessions at Cambridge Credit Counseling are free of charge for New Mexico residents, as they are for consumers everywhere Cambridge serves. ### What is a debt management plan and is it available in New Mexico? A debt management plan consolidates unsecured debts into one monthly payment handled by the counseling agency. It is not a loan. This service is available to New Mexico residents, and any creditor almost all concessions like lower interest rates follow preset guidelines set by each creditor, not by Cambridge Credit Counseling. ### Does Cambridge Credit Counseling offer debt settlement to New Mexico residents? No. Cambridge Credit Counseling does not offer debt settlement. Debt settlement involves negotiating to pay less than what is owed and is a different service, typically offered by for-profit companies, not by nonprofit agencies like Cambridge Credit Counseling. ### How can someone in New Mexico start with Cambridge Credit Counseling? New Mexico residents can call 800-235-1407 to reach Cambridge Credit Counseling for new counseling inquiries and learn which of its services, such as credit counseling, housing counseling, or bankruptcy counseling, may fit their needs. ## 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) - HUD Home Equity Conversion Mortgage programme rules (checked 2026-08-25) - 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) - 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) - cambridge-credit.org about page: https://cambridge-credit.org/about.html (checked 2026-08-03) - NFCC Member Agencies register: https://www.nfcc.org/nfcc-member-agencies/ (checked 2026-08-28) - cambridge-credit.org housing counseling page: https://cambridge-credit.org/housing-counseling.html (checked 2026-08-03) - cambridge-credit.org bankruptcy page: https://cambridge-credit.org/bankruptcy-counseling.html (checked 2026-08-03) - cambridge-credit.org about page: https://cambridge-credit.org/about.html (checked 2026-08-03) - cambridge-credit.org contact page: https://cambridge-credit.org/contact.html (checked 2026-08-03) - Cambridge Credit Counseling: https://cambridge-credit.org/index.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) - 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) - 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) - Mortgage Basics | Cambridge Credit: https://cambridge-credit.org/mortgage-basics.html (checked 2026-08-04) - 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) - Mortgage Basics | Cambridge Credit: https://cambridge-credit.org/mortgage-basics.html (checked 2026-08-04) --- 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.