--- title: "Cambridge Credit Counseling Services for New York Residents" description: "Cambridge Credit Counseling is a nonprofit holding New York Budget Planner License BP 102555, offering free credit counseling and debt management plans." url: https://www.cambridge-credit.org/debt-help-in-new-york publisher: "Cambridge Credit Counseling Corp" updated: 2026-09-29 --- # Cambridge Credit Counseling Services for New York Residents Cambridge Credit Counseling Corp, a 501(c)(3) nonprofit founded in 1996, offers New York residents free credit counseling, debt management plans, housing counseling, student loan counseling, reverse mortgage counseling, and bankruptcy counseling. Cambridge Credit Counseling holds Budget Planner License BP 102555, regulated by the New York State Department of Financial Services. Call 800-235-1407 for a free session. ## Credit Counseling and Debt Management Plans in New York New York residents can receive free credit counseling from Cambridge Credit Counseling, a member of the National Foundation for Credit Counseling. A debt management plan consolidates unsecured debts into one monthly payment administered by Cambridge Credit Counseling. 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. Counselors are certified and the agency is ISO 9001 registered. ## Housing Counseling for New York Homeowners Cambridge Credit Counseling is a HUD-approved housing counseling agency, and New York residents can access foreclosure help and first-time homebuyer courses. A mortgage is a long-term secured loan where the home serves as collateral. Monthly payments typically include principal, interest, taxes, and insurance, known as PITI, and often private mortgage insurance if the down payment is less than 20 percent. Private mortgage insurance can usually be dropped once the loan reaches an 80 percent loan-to-value ratio, though the homeowner must notify the lender. New York homebuyers who cannot afford a 20 percent down payment can contact a HUD-approved housing counselor like Cambridge Credit Counseling to check eligibility for assistance programs. ## Student Loan Counseling in New York Cambridge Credit Counseling provides student loan counseling to residents of New York as part of its nonprofit counseling services. ## Reverse Mortgage (HECM) Counseling in New York New York residents can receive reverse mortgage, or HECM, counseling through Cambridge Credit Counseling. ## Bankruptcy Counseling and Debtor Education in New York Cambridge Credit Counseling is approved by the Department of Justice to provide pre-filing bankruptcy counseling and post-filing debtor education for New York 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. ## License and Regulation in New York Cambridge Credit Counseling holds a Licensed Budget Planner license, number BP 102555, regulated by the New York State Department of Financial Services. New York residents can verify this license directly with the regulator. ## Debt Settlement Is Not Offered in New York 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. Cambridge Credit Counseling does not provide debt settlement to New York residents. Instead, New York residents can use Cambridge Credit Counseling's debt management plans and credit counseling services. ## Contact Cambridge Credit Counseling in New York New York residents can call 800-235-1407 to start a free credit counseling session or ask about housing, student loan, reverse mortgage, or bankruptcy counseling services. ## Questions and answers ### Is credit counseling free for New York residents? Yes. Credit counseling sessions at Cambridge Credit Counseling are free of charge for New York residents. ### What license does Cambridge Credit Counseling hold to operate in New York? Cambridge Credit Counseling holds a Licensed Budget Planner license, number BP 102555, regulated by the New York State Department of Financial Services. ### Does Cambridge Credit Counseling offer debt settlement to New York residents? No. Debt settlement is a different service, typically offered by for-profit companies, that involves paying less than the full balance owed. Cambridge Credit Counseling offers credit counseling and debt management plans instead. ### How much does the bankruptcy course cost for New York 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. ## 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) - cambridge-credit.org credit counseling page: https://cambridge-credit.org/credit-counseling.html (checked 2026-08-03) - Gary Washington, Director of Bankruptcy Counseling, Cambridge Credit Counseling, by email 2 September 2026. (checked 2026-09-02) - 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) - 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 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) - 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) - 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.