Should I Go With Take Charge America or Cambridge Credit Counseling? – Lynn

“Dear Damon,

I have $60k in debt and am trying to find the best debt consolidation company to use. I have contacted Take Charge America and Debt Counseling Corporation. I saw on on the Get out of Debt Guy’s website that he recommends Cambridge Credit Counseling.

Which debt consolidation company do you recommend, base on reputation? Is a $50 monthly account maintenance fee standard? I need to move on with my life and get back to focussing on work, so the sooner I contract with the best debt management firm the better.

thank you –


Hello Lynn,

Yes Cambridge Credit Counseling is a good organization. They all have monthly fees and it depends on the state you are in. They charge more in some states and less in others. Ultimately, credit counseling is a pretty simple concept and as long as the company is reputable, has a good track record and is licensed to do business in your state, then it is really a matter of preference. You can get quotes from several different companies and go with the one that you feel the most comfortable with. Cambridge is a member of the AACC.

Different companies will have different deals with certain creditors, so you might find one with a payment of say 1200 over 4 years, and another with a payment of 1225 or 1250 over about the same time frame. So it doesn’t hurt to shop around.

Do you feel confident that you will be able to make the monthly payments every month? Of the quotes you have received, how much have they been able to reduce your interest rates by?

Damon is a talented independent debt coach that provides in-depth assistance and consultations for people struggling with debt. If you want a personal debt coach to help you through a difficult situation or want assistance to find secret discounts offered by debt settlement companies I think Damon Day is an excellent person to contact for advice and assistance. He can be reached directly at

If you have a debt related question you’d like to ask, just use the online form.

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