Guides
Guides and answers
72 questions, answered from Cambridge Credit Counseling's own approved sources. Every page says where its figures came from. If yours is not here, a counselor can answer it directly and the call is free.
Debt management plans 13
How a plan works, what it did for our typical client, and what it does to your credit.
- What is the difference between credit counseling and debt settlement?
- Customer support for Cambridge clients
- How Long Does a Debt Management Plan Take?
- Frequently asked questions
- How Does Credit Counseling Affect Your Credit Score?
- Is a debt management plan a loan?
- Is Nonprofit Credit Counseling Worth It?
- Nonprofit vs For-Profit Debt Help: What Is the Difference?
- Welcome, Pioneer Credit Counseling clients
- What Does a Nonprofit Credit Counselor Actually Do?
- What Happens in Your First Credit Counseling Session?
- What Is a Debt Management Plan and How Does It Work?
- What Is Credit Counseling?
What is free 4
Free credit counseling, how Cambridge is funded, and how a plan's fees are set.
Choosing an agency 6
How to tell a legitimate nonprofit from the rest.
- What Are the Risks of Debt Settlement?
- Debt Settlement vs. Debt Management Plan: What Is the Difference?
- How Do I Choose a Credit Counseling Agency?
- How Do I Know If a Credit Counseling Agency Is Legitimate?
- How Do I Know If a Credit Counseling Service Is Legit and Worth Using?
- What Exactly Is the Federal Reserve and Why Does It Matter to My Money?
If something has gone wrong 7
Job loss, falling behind, collectors, court.
- I Have $20,000 in Credit Card Debt and Can Only Make Minimum Payments. What Should I Do?
- What should I do if I cannot afford my credit card payments this month?
- I just lost my job. What do I need to know about my health insurance, mortgage, and bills?
- Who Can Help Me Talk to My Credit Card Companies About Lowering My Interest Rates?
- How do I stop living paycheck to paycheck when credit card debt keeps growing?
- How Do I Get Out of Payday Loan Debt?
- What options do I have to avoid bankruptcy with credit card debt?
Your rights 4
What collectors and lenders may and may not do.
Credit reports 4
What is on yours, and how to correct it.
Effect on your credit 2
What helps, what hurts, and for how long.
Credit cards 3
Minimum payments, applications, and the arithmetic behind them.
Housing and mortgages 3
Modification, foreclosure, buying, and renting.
Student loans 5
Federal programs, repayment, and who to talk to.
- What Exactly Is a Federal Direct Loan and How Do I Qualify?
- What happened to my Federal Perkins Loan and how do I pay it back now?
- What repayment plans can I choose from with my FFEL loan and how often can I switch?
- How Long Do I Have to Pay Back My HEAL Loan, and How Is the Interest Rate Figured?
- What Exactly Is a Stafford Loan and How Do I Know If I Qualify?
Retirement 1
Plans, contributions, and the rules that govern them.
Paying debt down 1
Methods, order, and what actually shortens the wait.
Budgeting 1
Working out what is left before deciding what to do with it.
What Cambridge does 5
The services themselves, in detail.
- Do I Need Counseling Before Filing Bankruptcy, and Where Do I Get the Certificate?
- Where can first-time homebuyers get a homebuyer education course?
- What Is HECM Reverse Mortgage Counseling and Is It Required?
- Who Offers Legitimate Student Loan Counseling That Is Not a Scam?
- Where can I get HUD-approved housing counseling for foreclosure help?
Why trust Cambridge 12
Nonprofit status, approvals, and who regulates them.
- Who Cambridge Credit Counseling is
- Accessibility statement
- How Do I Avoid Credit Repair Scams?
- Is Cambridge Credit Counseling Legitimate, and What Do People Say About Them?
- Contact Cambridge Credit Counseling
- Corporate officers and board of directors
- Counselor certifications and agency accreditations
- Required disclosures and state licenses
- Are Nonprofit Credit Counseling Agencies Legit?
- How Cambridge Credit Counseling handles your personal information
- The terms that apply to this website
- What Is It Like to Work at Cambridge Credit Counseling, and How Do I Apply?
Articles by topic 40
Articles from Cambridge Credit Counseling on everyday money, listed by topic.
Also from Cambridge: The podcast, Client reviews and videos, and Personal Finance Videos on YouTube.
Budgeting and saving 8
- Creating a budgetWhy a budget helps you keep your lifestyle rather than lose it, and four steps to build one: income, expenses, putting it together, and saving.
- Living within your meansMost people have a small desire to want the "finer things" in life.
- Managing your checkbookDo you know how to balance a checkbook? Do you have overdraft protection or even know what that is?
- Money Saving TipsMoney saving tips for college students on a limited income, to help stretch every dollar while earning a degree, from Cambridge Credit Counseling.
- How To Avoid Unnecessary ExpensesHow to spot the hidden and unnecessary expenses that knock a budget off course, and what to do about them, from Cambridge Credit Counseling.
- How To Avoid Making Financial MistakesThe common personal finance mistakes young people and adults make, and how to avoid them, from Cambridge Credit Counseling.
- Creating a crisis budgetWe all know the importance of having a household budget in place to help us maintain control of where our money is going.
- Saving Money With A StaycationHow to enjoy time off with your family without breaking the bank, with staycation ideas from Cambridge Credit Counseling.
Credit and credit scores 4
- Credit BasicsCredit basics from Cambridge Credit Counseling: how credit works, why it affects insurance, employment and interest rates, and your rights as a consumer.
- Credit TermsA plain-English glossary of common credit and credit card terms and phrases, put together by Cambridge Credit Counseling.
- Using Credit ResponsiblyCredit is a powerful tool and easy to misuse. Cambridge Credit Counseling explains the habits that build and keep a good credit rating.
- Credit Scores Affect Insurance RatesYour credit score can change what you pay for car and homeowner's insurance, or whether you are covered at all. Cambridge Credit Counseling explains how.
Home and utility bills 6
- Saving On Home Electricity BillsTips and tricks from Cambridge Credit Counseling for cutting the cost of heating, cooling and lighting your home.
- High Energy CostsHow to reduce energy costs at home and in your daily spending so that a high electricity bill does not knock your budget off course.
- Energy Efficiency TipsSmall changes that cut your energy bills, starting with light bulbs and building up to the larger savings around the home, from Cambridge Credit Counseling.
- Utility Budget PlansWhy utility bills swing with the seasons and how a utility budget plan can make electricity, gas and oil costs predictable, from Cambridge Credit Counseling.
- Winterizing Your HomeHow to prepare your home for winter to stay safe, cut heating costs and prevent damage, with tasks you can do yourself, from Cambridge Credit Counseling.
- Money Saving Moving TipsMoving is costly and confusing. Cambridge Credit Counseling explains what drives the cost of a move and how to keep it under control.
Holidays and seasonal spending 6
- Holiday Spending TipsTips from Cambridge Credit Counseling for keeping holiday spending in check, starting with avoiding credit cards and planning what you can afford.
- Saving Money During HolidaysFive more ideas from Cambridge Credit Counseling for keeping holiday spending under control, starting with sorting wants from needs.
- Saving Money On ThanksgivingThanksgiving costs more than the grocery bill. Cambridge Credit Counseling shows how to cut those expenses and spread the spending out ahead of time.
- Saving Money On HalloweenHow to enjoy Halloween without blowing your budget on costumes, candy and decorations, from Cambridge Credit Counseling.
- Back To School SavingsFive ways to save money during the back-to-school season, from planning around the supply list to avoiding last-minute buying, from Cambridge Credit Counseling.
- How To Save Money While Spring CleaningSpring cleaning can save your family money as well as tidy the house. Cambridge Credit Counseling shares ideas you may not have thought of.
Kids, family and couples 9
- Teaching kids the value of moneyIn general, kids have little to no concept of money.
- Children and money managementFinancial literacy is rarely taught in America's schools.
- Allowance BasicsShould your child get an allowance? Cambridge Credit Counseling weighs the arguments on both sides and offers guidance for parents deciding what works at home.
- Financial Literacy For TeensWhy money management matters for teenagers and young adults, and how parents can help them build habits that keep debt away, from Cambridge Credit Counseling.
- Preparing For A New BabyFew events change a family's finances like a new baby. Cambridge Credit Counseling lists the expenses to expect and how to plan for them.
- Budgeting For BabyA new baby changes your finances. Cambridge Credit Counseling explains what to plan for, what you can skip, and how to prepare a budget before the baby arrives.
- Raising Kids One IncomeHow to raise children on one income while keeping your finances healthy and still saving for their future, from Cambridge Credit Counseling.
- Financial Discussions Before MarriageWhy couples should talk about debts, spending and goals before marriage, and how to start that conversation, from Cambridge Credit Counseling.
- Financial Tips For CouplesHow couples can open an honest conversation about money, understand each other's finances and set shared goals, from Cambridge Credit Counseling.
Insurance and keeping your money safe 3
- Life Insurance BasicsLife insurance basics: whether you need it, the main types, and how to work out how much cover your family would need, from Cambridge Credit Counseling.
- Teen Drivers Auto InsuranceWhat parents should know about insuring a teenage driver and how to keep the cost of auto insurance down, from Cambridge Credit Counseling.
- Safeguard Your Finances While TravelingHow to protect your money and identity while traveling, at home or abroad, with practical travel safety steps from Cambridge Credit Counseling.
Saving and planning ahead 3
- Saving Investing BasicsSaving and investing basics: how compound interest works and how money can be put to work to build wealth over time, from Cambridge Credit Counseling.
- College Tuition BasicsCollege tuition basics for families: how to plan for the cost of college and the choices that make it more affordable, from Cambridge Credit Counseling.
- Money For SinglesSingle people need a financial plan too. Cambridge Credit Counseling covers wills, retirement and planning for the future on one income.