Cambridge Credit Counseling Services for Tennessee Residents

Cambridge Credit Counseling’s Tennessee License#

This license allows Cambridge Credit Counseling to offer debt management plans to Tennessee residents. Cambridge Credit Counseling is a 501(c)(3) nonprofit founded in 1996 and headquartered in Agawam, Massachusetts, and is a member of the National Foundation for Credit Counseling (NFCC).

Services Available to Tennessee 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 Tennessee residents are free of charge. Cambridge Credit Counseling counselors are certified, and the agency is ISO 9001 registered.

What a Debt Management Plan Means for Tennessee 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. This service is available to Tennessee residents through Cambridge Credit Counseling’s Tennessee Debt Management Service license.

Debt Settlement Is Not Offered by Cambridge Credit Counseling in Tennessee#

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 does not provide debt settlement services to Tennessee residents. Tennessee residents seeking help with unsecured debt through Cambridge Credit Counseling can instead ask about a debt management plan or free credit counseling session.

Housing Counseling and Mortgage Basics for Tennessee Homebuyers#

Cambridge Credit Counseling is a HUD-approved housing counseling agency, and this service is available to Tennessee residents, including first-time homebuyer courses. A mortgage is a long-term secured loan from a bank or other financial institution in which the house or property serves as collateral. A monthly mortgage payment typically includes principal, interest, real estate taxes, and property insurance, known together as PITI, and often also private mortgage insurance.

Homebuyers in Tennessee who make a down payment of less than 20 percent of the home’s cost are required to obtain private mortgage insurance, which protects the lender if the borrower defaults. The cost of private mortgage insurance varies by lender and can range from 0.15 percent to 2.5 percent of the loan amount. Once the loan reaches an 80 percent loan-to-value ratio, the homeowner should inform the lender that private mortgage insurance premiums need to be discontinued. Tennessee 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 determine whether they qualify for special homeownership programs.

Bankruptcy Counseling for Tennessee Residents#

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 Tennessee 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.

How Tennessee Residents Can Get Started#

Tennessee residents can reach Cambridge Credit Counseling for new counseling inquiries at 800-235-1407 to learn more about any of the services listed above.

Common questions

Is Cambridge Credit Counseling licensed to serve Tennessee residents?

Yes. Cambridge Credit Counseling Corp holds a Licensed Debt Management Service license, number 17, regulated by the Tennessee Department of Commerce and Insurance.

Does Cambridge Credit Counseling offer debt settlement to Tennessee residents?

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

Is credit counseling free for Tennessee residents?

Yes. Credit counseling sessions at Cambridge Credit Counseling are free of charge for Tennessee residents.

What housing counseling help is available to Tennessee residents?

Cambridge Credit Counseling is a HUD-approved housing counseling agency and offers Tennessee residents help including first-time homebuyer courses.

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.
• Mortgage Downpayments| Cambridge Credit cambridge-credit.org Checked 2026-08-04.
• cambridge-credit.org credit counseling page cambridge-credit.org 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 cambridge-credit.org Checked 2026-08-04.
• cambridge-credit.org about page cambridge-credit.org Checked 2026-08-03.
• NFCC Member Agencies register nfcc.org Checked 2026-08-28.
• cambridge-credit.org housing counseling page cambridge-credit.org Checked 2026-08-03.
• cambridge-credit.org bankruptcy page cambridge-credit.org Checked 2026-08-03.
• cambridge-credit.org contact page cambridge-credit.org Checked 2026-08-03.
• Mortgage Basics | Cambridge Credit cambridge-credit.org Checked 2026-08-04.
• industry definition, NFCC nfcc.org Checked 2026-08-28.
• Federal Trade Commission, How To Get Out of Debt consumer.ftc.gov Checked 2026-09-18.
• How To Get Out of Debt, Federal Trade Commission consumer.ftc.gov Checked 2026-08-28.
• CFPB consumer guidance consumerfinance.gov Checked 2026-08-28.