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Cambridge Credit Counseling Review April 2024

Cambridge Credit Counseling Corp. has been providing credit counseling and financial education services since 1996. They offer a variety of counseling services as well as a debt management plan.
Betsalel CohenApr 1, 2024
Editor’s Note
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Best for Overall

Overall rating:
4.5 rating

Cambridge Credit Counseling Corp. has been providing credit counseling and financial education services since 1996. They maintain an A+ rating with the Better Business Bureau and are currently Consumer Affairs’ top-rated credit counseling agency. The fees they charge for their debt management services are regulated by the state in which the particular consumer resides, but never to exceed an initial fee of $75 and a $50 per month service fee.

Counseling Services
  • Credit Counseling
  • Housing Counseling
  • Bankruptcy Counseling
  • Student Loan Counseling
  • Reverse Mortgage
  • Debt Management Plan

47 states

Not available in MN, WI, VA


Cambridge is a member of the National Foundation for Credit Counseling and the Financial Counseling Association of America.

Thumb up
  • Good at reducing interest rates.
  • Rated highly for customer service.
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  • Does not provide in-person services. Online/phone only.
  • Only one physical office. With only one office in Massachusetts, your opportunity for in-person counseling is limited, leaving you to phone or email.

Cambridge Credit Counseling: Top Features

Cambridge Credit Counseling Corp. provides credit counseling, a debt management plan, and financial education services.

Lots of Experience: Cambridge Credit Counseling was established in 1996.

A Wide Variety of Counseling Services: Cambridge Credit Counseling offers the following services:

Credit counseling: A counselor reviews your debts, budget, and general financial situation.

Housing counseling: Cambridge offers a variety of non-profit, HUD-approved housing counseling services. Their services include a First-Time Homebuyer Education course, which is mandatory for some mortgage programs. Also, they a HUD reverse mortgage counseling program.

Bankruptcy counseling: Cambridge Credit Counseling can provide you with the required bankruptcy counseling certificates that you need to complete your bankruptcy filing, including the Pre-Filing Credit Counseling (also known as a "Budget and Credit Counseling Briefing") and the Post-Filing Debtor Education.

Student loan counseling: A Cambridge counselor reviews your student loans and budget. They will help you evaluate your options, including student loan reduction, student loan cancellation, and forgiveness.

Top Accreditation: Cambridge is accredited by the industry group, Financial Counseling Association of America.

Debt Relief Program: Cambridge Credit Counseling also offers a debt management program that consolidates debt and negotiates lower interest rates.

Competitive Fees: In general, fees are regulated by states. Cambridge Credit Counseling fees are in line with most competitors. You can get a free debt consultation.

Cambridge Credit Counseling: Debt management plan

After completing credit counseling, your Cambridge counselor may offer you a debt relief program to help consolidate your monthly bill.

Qualifying for Cambridge's debt management plan: The debt management plan is not based on your credit score. A counselor carefully evaluates your financial situation, including your debts and your cash-flow. The program aims to serve consumers who can afford their monthly payments but need payment relief through a lower interest rate. It is not intended to help people who cannot afford their payments.

Top benefits and features:

  • Four-year payment terms
  • Lower your interest rate. Cambridge negotiates your credit card interest rate. They claim that they can "reduce your credit card interest rates by an average of 64% (from 22% down to 8%)." Concession rates vary by creditors and also by your financial situation. 
  • Consolidate your monthly payments into one affordable payment.
  • Reasonable fees.

Cambridge Credit Counseling- Customer Service and Customer Satisfaction

Cambridge offers counseling services via the phone. No online counseling is provided. You can manage your credit counseling or bankruptcy accounts through their online portal. 

Cambridge Credit Counseling is BBB accredited with an A+ rating.  They also have high ratings (4.8/5.0) with both TrustPilot and Consumer Affairs, two popular review sites. 

Compare to leading providers

Full Star
Full Star
Full Star
Full Star
Half Star rating

Good for: Consolidated Credit

Enrollment Fees
$0 - $49
Monthly Fees
$0 - $79
50 states