Cambridge Credit Counseling Corp
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How Are Credit Counseling Agencies Funded?

Cambridge Credit Counseling, a 501(c)(3) nonprofit agency founded in 1996, is funded mainly through monthly fees paid by clients on a Debt Management Plan and through funding or grants from some creditors. This mix supports free credit counseling, housing counseling, and other education services offered to consumers nationwide, with no obligation to enroll in any plan.

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How Cambridge Credit Counseling Is Funded#

Cambridge Credit Counseling is supported by the low monthly fees paid by its clients and also receives funding or grants from some creditors for the counseling and education it provides. Under a Cambridge Credit Counseling Debt Management Plan, the client makes one monthly payment and Cambridge pays the client’s creditors on the client’s behalf. Cambridge charges a low enrollment fee and a small monthly fee to our clients and we also receive funding from some of our clients’ creditors for the services we provide.

Why Cambridge Credit Counseling’s Nonprofit Status Matters#

Cambridge Credit Counseling is a 501(c)(3) not-for-profit agency that has provided credit counseling and financial literacy education to consumers nationwide since its inception. As a nonprofit, we offer credit counseling, housing counseling, reverse mortgage counseling, and bankruptcy counseling services, rather than operating as a for-profit business selling debt products. Fees on a Debt Management Plan through Cambridge are set within the maximum allowed in your state, according to what you can afford, and every dollar of those fees helps fund the counseling and education services we provide.

Accountability Through Memberships and Codes of Practice#

Cambridge Credit Counseling is a member of the National Foundation for Credit Counseling and the Financial Counseling Association of America. Cambridge Credit Counseling is accredited to the Financial Counseling Association of America’s Code of Practice, a set of rules governing the actions of credit counseling agencies. Our counselors are certified through the National Foundation for Credit Counseling, and many other staff members are certified through the Partnership for Financial Education, which adds another layer of oversight to how we operate.

Free Credit Counseling for Consumers#

Cambridge Credit Counseling offers credit counseling as a free service to consumers who are having difficulty paying credit card and other unsecured bills. There is never any obligation to enroll in a Debt Management Plan after a credit counseling session. Creditors may also extend benefits such as a reduction in credit card interest rates to clients of a consumer credit counseling agency like Cambridge Credit Counseling, which is one reason creditor funding supports this type of counseling.

What to Do Next#

If you want to understand your options without any pressure to sign up for anything, we offer a free credit counseling session to consumers looking for ways out of debt. You can use that session to ask questions about how we work and what a Debt Management Plan would involve for your situation, including what its fees would be.

What a debt management plan actually does

How it works

  1. 1

    Free Budget Review

    One-on-one counseling with a nationally certified credit counselor. We’ll review your income and expenses to fully understand your unique situation.

  2. 2

    Customized Repayment Plan

    We’ll provide options based on your budget and, if appropriate, enroll you in our Debt Management Plan that’s designed to safely and quickly eliminate your debt.

  3. 3

    One Monthly Payment

    Through our Debt Management Plan, we’ll consolidate your eligible unsecured debts into one simple monthly payment, sent to your creditors on your behalf.

  4. 4

    Become Debt-Free Faster

    With reduced interest rates, fewer fees and expert guidance, our clients are debt-free, typically in less than 4 years, without bankruptcy or risky debt settlement.

You make one payment each month to Cambridge. Cambridge divides it between the accounts on your plan and pays them. Creditors usually agree to reduce the interest rate, though that is their decision and not every account is included. Your accounts are closed while the plan runs.

  • Interest paidOur typical client would have paid $44,676 in interest on their own, against $4,936 in interest and our fees on the plan
  • Interest ratesCreditors cut them from 28.99% to 7% on average
  • Monthly payment35.7% lower on average, or 31.1% after our fees
  • Time to pay off38 months on average, against a 52-month plan

Cambridge Credit Counseling client data: 6,809 enrollments in the year to 30 June 2026, and 1,434 plan completions in 2025. Prepared by Brian Vosburgh, Director of DMP Operations, September 2026.

Your own result depends on your debts, your budget and what your creditors agree to.

Common questions

Does Cambridge Credit Counseling charge for credit counseling sessions?

No. Cambridge Credit Counseling offers credit counseling as a free service for consumers who are having difficulty paying credit card and other unsecured bills.

Where does Cambridge Credit Counseling's funding come from?

Cambridge Credit Counseling is supported by the monthly fees paid by its clients and also receives funding or grants from some creditors for the counseling and education it provides.

Is Cambridge Credit Counseling a nonprofit?

Yes. Cambridge Credit Counseling is a 501(c)(3) not-for-profit agency that has provided credit counseling and financial literacy education to consumers nationwide since its inception.

What memberships help keep Cambridge Credit Counseling accountable?

Cambridge Credit Counseling 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, a set of rules governing the actions of credit counseling agencies.

Am I required to enroll in a plan after a counseling session?

No. There is never any obligation to enroll in a Debt Management Plan after a credit counseling session with Cambridge Credit Counseling.

Where this information comes from

  • NFCC Member Agencies register nfcc.org Checked 2026-08-28.
  • Nonprofit Credit Counseling at Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
  • Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
  • About Cambridge Credit Counseling | Nonprofit (Cambridge Credit Counseling’s own information).
  • Free Financial Education Guides, Worksheets and Newsletters | Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
  • Credit Counselors - Housing Counselors | Cambridge Credit (Cambridge Credit Counseling’s own information).
  • Counselor Certifications and Agency Accreditations | Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
  • Disclosures and State Licenses | Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
  • HUD-Approved Housing Counseling from Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
  • Frequently Asked Questions | Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
  • How to Spot a Legitimate Credit Counseling Agency | Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
  • Equal Credit Opportunity Act: What It Protects | Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).
  • First-Time Homebuyer Education Courses at Cambridge Credit Counseling (Cambridge Credit Counseling’s own information).