What Does a Nonprofit Credit Counselor Actually Do?

What Happens During a Cambridge Credit Counseling Session#

Cambridge Credit Counseling offers credit counseling as a free service to consumers who are having trouble paying credit card and other unsecured bills. During the session, a counselor looks at your situation and may explain options such as a debt management plan. There is never any obligation to enroll in a debt management plan after a credit counseling session.

Certifications Counselors Must Hold#

Counselors at Cambridge Credit Counseling hold certifications that include NFCC Certified Credit Counselor, HUD-Certified Housing Counselor, HUD-Approved Reverse Mortgage Counselor, and PFE Certified Debt Management Professional. Cambridge Credit Counseling counselors are certified through the National Foundation for Credit Counseling, and many other staff members are certified through the Partnership for Financial Education. All Cambridge Credit Counseling counselors must attain the required certifications before assisting consumers.

The Education Role of a Nonprofit Credit Counselor#

Cambridge Credit Counseling is a nonprofit agency that offers credit counseling, debt management plans, housing counseling, student loan counseling, reverse mortgage counseling, and bankruptcy counseling. Beyond one-on-one sessions, Cambridge Credit Counseling offers the Learn Now or Pay Later Financial Literacy Guide, which covers building a spending plan, setting short- and long-term goals, understanding credit reports and scores, and using credit wisely. Cambridge Credit Counseling also offers a Young Adult version of this guide, covering credit reports, credit scores, debt-to-income ratios, budgeting, and checking and savings accounts for a younger audience.

Cambridge Credit Counseling also offers HUD-approved homebuyer education courses for people planning to buy their first home.

What a Nonprofit Credit Counselor Never Does#

Cambridge Credit Counseling Corp is a nonprofit agency, is not a loan company, and does not lend money. A counselor’s job is to explain options and educate, not to hand out loans or push you toward a specific product.

Cambridge Credit Counseling does not report participation in its bankruptcy counseling or debtor education courses and does not pull the consumer’s credit report to provide these services, so the services have no effect on the consumer’s credit rating.

There is never any obligation to enroll in a debt management plan after a credit counseling session, so a counselor will not pressure you into signing up for anything.

What to Do Next#

If you want to understand your options, you can speak with a counselor at Cambridge Credit Counseling by calling (800) 235-1407. Credit counseling is offered as a free service to consumers who are having difficulty paying credit card and other unsecured bills, and there is no obligation to enroll in anything after the session.