Cambridge Credit Counseling in Wyoming

Cambridge Credit Counseling, a 501(c)(3) nonprofit credit counseling agency founded in 1996, offers free credit counseling, debt management plans, student loan counseling, housing counseling, reverse mortgage counseling, and bankruptcy counseling to Wyoming residents. Cambridge is a HUD-approved housing agency and a member of the National Foundation for Credit Counseling and the Financial Counseling Association of America. Wyoming residents can call 800-235-1407 to start a free counseling session and learn which services fit their situation.

Credit Counseling and Debt Management Plans in Wyoming#

Credit counseling sessions from Cambridge Credit Counseling are free of charge for Wyoming residents. A certified counselor can review your finances and explain your options. If a debt management plan makes sense, it works by consolidating unsecured debts into one monthly payment administered 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. Cambridge counselors are certified through the National Foundation for Credit Counseling, and Cambridge is accredited to the Financial Counseling Association of America’s Code of Practice.

Student Loan Counseling in Wyoming#

Student loan counseling is available to Wyoming residents through Cambridge Credit Counseling. This service is meant to help borrowers understand their federal student loan situation and repayment choices. There is no charge to inquire about this service.

Housing Counseling in Wyoming#

Cambridge Credit Counseling is a HUD-approved housing counseling agency, and this service is available to Wyoming residents, including first-time homebuyer courses. A mortgage is a long-term secured loan where the home serves as collateral, and a monthly payment typically includes principal, interest, taxes, and insurance, known as PITI, and often private mortgage insurance as well. Homebuyers who make a smaller down payment often must carry private mortgage insurance, which adds to the monthly cost. Once a homeowner has built up enough equity in the home, they can ask their lender about stopping the premiums. Wyoming residents who cannot afford a large down payment can contact a HUD-approved housing counseling agency to find out if they qualify for special homeownership programs.

Reverse Mortgage Counseling in Wyoming#

Reverse mortgage, or HECM, counseling is available to Wyoming residents through Cambridge Credit Counseling. This counseling is meant to help older homeowners understand how this type of loan works before making a decision.

Bankruptcy Counseling and Debtor Education in Wyoming#

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 Wyoming 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.

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

Cambridge Credit Counseling does not provide debt settlement to Wyoming residents. Debt settlement means negotiating to pay less than the full balance owed, and it is typically offered by for-profit companies rather than nonprofit credit counseling agencies like Cambridge Credit Counseling. There is no legal right to settle a debt in the United States, and a creditor is not obliged to accept a settlement offer. On a settlement program, a consumer pays money into a special account until enough has built up to offer a compromise on an enrolled account. While that money accumulates, no payments are made on the accounts, so they fall past due and age toward charge-off, and late fees, possible over-limit fees, and penalty interest generally continue to add to the balance. Debt settlement programs generally do not work with a consumer’s creditors in an agreeable way; they generally disconnect that relationship, often through a cease-and-desist letter, which stops most collection activity except a lawsuit for non-payment. Settlement fees are generally charged when a settlement succeeds and can range from 15 to 30 percent of the savings or the settled amount, and successful settlements themselves can range from 30 to 60 percent of the debt owed, so by the time a settlement is reached, the settled amount plus fees can come close to the original balance owed when the consumer enrolled. This period of non-payment also has a deep negative impact on a consumer’s credit score and on the cost of future borrowing. If a settlement is reached, the forgiven amount is generally taxable as income unless the consumer is insolvent, and the creditor sends a Form 1099-C to both the consumer and the IRS.

How a debt management plan differs

A Cambridge Credit Counseling debt management plan works differently. It works with a consumer’s creditors to obtain the benefits those creditors are willing to extend, such as a reduced interest rate, a reduced monthly payment, waived late and over-limit fees, and the ability to bring a past-due account back to current after three months of on-time payments. This approach is not adversarial and is not a negotiation; almost all of these benefits are preset guidelines creditors have already agreed to for debt management agencies. Under a plan, balances are paid in full, with the concessions creditors have put in place, rather than settled for a reduced amount. Cambridge Credit Counseling’s debt management plan fees are based on state regulations and on the consumer’s ability to pay. Enrolling in a plan generally has an initial impact on a credit score, mainly because the enrolled accounts are closed, and how large that impact is varies with how many accounts are enrolled, how long they have been open, and what else is on the credit report. Over the long term, the impact is generally positive, because the consumer is not defaulting and is paying the debt in full; as long as payments are made on time, credit scoring models treat that as positive.

About Cambridge Credit Counseling#

Cambridge Credit Counseling Corp is a 501(c)(3) nonprofit organization founded in 1996 and headquartered in Agawam, Massachusetts. Cambridge is a member of the National Foundation for Credit Counseling and the Financial Counseling Association of America, and it is accredited to the FCAA’s Code of Practice. Cambridge serves Wyoming residents along with people across the country.

How Wyoming Residents Can Get Started#

Wyoming residents can call Cambridge Credit Counseling at 800-235-1407 to ask questions and set up a free counseling session.

Common questions

Is credit counseling really free for Wyoming residents?

Yes. Credit counseling sessions from Cambridge Credit Counseling are free of charge for consumers, including residents of Wyoming.

What is a debt management plan?

A debt management plan consolidates unsecured debts into one monthly payment administered by the counseling agency. It is not a loan. Almost all concessions such as reduced interest rates or waived fees follow preset guidelines set by each creditor, and the balances are paid in full over time with those concessions in place.

Does Cambridge Credit Counseling offer debt settlement to Wyoming residents?

No. Debt settlement means negotiating to pay less than the full balance owed. It is typically offered by for-profit companies, not by Cambridge Credit Counseling. A creditor is never obligated to accept a settlement offer, and while a consumer saves toward one, interest and late fees keep adding to the balance, so settlement fees plus the settled amount can come close to the original debt owed. Settlement programs also generally stop working with creditors and can cause a deep, though usually temporary, drop in credit score during the period when accounts go unpaid. Cambridge Credit Counseling's debt management plans work with creditors instead, paying the balance in full while keeping accounts current.

Can Wyoming residents get help with bankruptcy paperwork?

Yes. Cambridge Credit Counseling is approved by the Department of Justice to provide pre-filing bankruptcy counseling and post-filing debtor education courses. 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.

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.
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