Disclosures & State Licenses

State Licenses

As a national credit counseling agency, Cambridge is required to maintain the appropriate licenses in every state where we conduct business. Although not all states have licensing requirements, below you'll find a list of those that do, along with a link to each of our licenses, when available. We invite you to visit these state agencies to verify our licensing status. We further invite you meet all of our licensed credit counselors and housing counselors employed at Cambridge.

Keep in mind, the name of the particular license varies from state to state and include such titles as "money transmitter", "debt adjuster", "debt management company", "debt management service provider", "credit counseling agency", "credit services organization", and "budget planner".

Cambridge ensures that only licensed credit counselors perform credit counseling services, and certain states require additional certifications in order for our licensed credit counselors to perform services on the accounts of consumers from their state.

Required Disclosures

Fees may apply for debt management plans.

We are non profit agency. We’re supported by the monthly fees paid by our clients and we also receive funding/grants from some of the creditors for the counseling and education we provide.

Please note that establishment of a plan may adversely affect an individual's credit rating or credit scores, and that nonpayment of debt may lead creditors to increase finance and other charges or undertake collection activity, including litigation.

VT Licensed Debt Management Service Provider

KS Licensed Debt Management Provider, Registration number CSO.0000031.The Kansas Office of the State Bank Commissioner will accept questions and complaints from consumers regarding Cambridge Credit Counseling Corp. at 700 SW Jackson, Suite 300, Topeka, Kansas, 66603, or by calling toll-free 1-877-387-8532

MD Licensed Debt Management Provider, Registration number 14-42. The commissioner of financial regulation for the state of Maryland will accept questions and complaints from Maryland residents regarding Cambridge (License #14-42) at 500 N. Calvert Street, Room 402, Baltimore, MD 21202-3651, Phone 1-888-784-0136.

Mississippi Licensed Debt Management Service Provider: MS Debt Management License Number 22.

New York Licensed Budget Planner

Due to exemption or the lack of a licensing requirement, Cambridge is also conducting business in the following 18 states:

• Alaska
• Arkansas
• California
• Florida
• Georgia
• Hawaii
• Louisiana
• Massachusetts
• Missouri
• New Mexico
• North Carolina
• North Dakota
• Ohio
• Oklahoma
• South Dakota
• Washington
• West Virginia
• Wyoming

Cambridge is not currently conducting business in the following states/territories:

• Minnesota
• Virginia
• Wisconsin
• Puerto Rico

WE ARE NOT LAWYERS

We are credit counselors who specialize in providing the information people need to more effectively manage their credit and debt. In the course of a consultation, a responsible counselor should advise you of the options suited to your financial circumstances. Among many alternatives, this can include the liquidation of assets you may have, budget adjustments you might consider making, negotiating with your creditors on your own, enrolling in a debt management plan, or consulting with a bankruptcy attorney. You must bear in mind that our advice is not legal advice, and that our counselors are not authorized to provide such counsel.

According to the Code of Ethics our counselors are sworn to uphold, a counselor should only provide counsel within his or her area of expertise. If your circumstances indicate that you should also consult with a professional in some other area, we'll advise you accordingly.

NO FALSE PROMISES

Our counselors are thoroughly trained and independently certified, so why don't we guarantee that your credit standing will improve if you simply follow our advice? The easy answer is that as a responsible agency, we can't give any kind of guarantee, even though we stand behind the soundness of our advice. It sounds contradictory, but there are two reasons for this we're certain you'll appreciate.

• We can't be with you 24 hours a day to monitor your financial behavior, and;
• Lenders make their own decisions to grant credit, and the decisions they make are based on a number of variables that extend well beyond the scope of our service.

We know what has worked for millions of Americans in the past, and that our advice is echoed by experts throughout the financial services industry, but we can't provide any kind of guarantee.