Wednesday, February 24, 2010

Cambridge Responds to Inaccurate Blog Posts

We would like to thank those bloggers who posted after Cambridge was mentioned by noted personal finance author Jordan Goodman on the ABC program The View. One of the most endearing qualities of the online community is its passion for sharing information. Unfortunately, the absence of accepted journalistic and investigative standards is also common in the online world, which often makes a casualty of the truth. This was definitely the case yesterday, when a few individuals posted defamatory and terribly inaccurate entries on their blog sites about our agency.

Several posters reported that Cambridge was currently involved in litigation with the Illinois attorney general. The lawsuit mentioned in those postings resulted from the business practices of our organization's previous management, from whom we separated at the end of 2004. In fact, the Illinois suit, which was satisfactorily resolved in 2007, was the last item that new management had to deal with when it assumed control of the agency. All other actions were resolved previously.

Some other bloggers repeated old accusations about inappropriate fee structures, back-office business arrangements with the long-defunct Brighton Credit agency, and the absence of third-party accreditation. We would like to assure the thousands of people contacting us each month for assistance that these assertions are entirely without merit.

  • Cambridge is licensed or exempt from licensure in 45 states. Our fees are capped at $75 initial and $50 monthly, and are compliant with the fee limits in all states where we do business. At present, our average initial fee is just $46 and our average monthly fee is just $25. Approximately 7% of our clients pay no fees whatsoever, and a significant number receive more modest reductions.
  • Brighton Credit was a subsidiary of Cambridge's former management. All ties to that company were severed when the new Cambridge separated from the aforementioned team in 2004.
  • All of Cambridge’s counselors and client services representatives are nationally certified by the Institute for Financial Literacy or the Association for Financial Counseling and Planning Education, the two most widely recognized independent accrediting bodies. Certification by the IFL or AFCPE is required in many states prior to licensure. Our staff also receives at least 10 continuing education credits annually to maintain their certificates.
  • Recognition of Cambridge’s comprehensive approach to effective financial counseling came last summer, when we were unanimously recommended for membership in the Association of Independent Consumer Credit Counseling Agencies (AICCCA), a universally respected national membership organization established to promote quality and consistent delivery of credit counseling services.
  • Cambridge is ISO 9000 registered and audited annually to the AICCCA Code of Practice.

The dedication of Cambridge’s new board and management team has helped us expand our educational offerings and re-establish confidence in our commitment to quality service. A testament to this dedication was Cambridge’s recent approval by the U.S. Department of Housing and Urban Development to provide housing counseling services. Furthermore, through the efforts of our exceptional staff, our financial literacy education programs continue to reach a wide variety of social service agencies, including our local chapter of Habitat for Humanity, the Job Corps, several VA facilities for homeless veterans, and a number of family shelters.

We would like to apologize for any confusion caused by these postings and are hopeful that the individuals involved will retract the defamatory statements they’ve placed on their sites. Anyone interested in learning more about Cambridge’s community services is encouraged to contact our agency’s president, Christopher Viale, at 413-821-6919.

Friday, February 5, 2010

CAMBRIDGE CREDIT COUNSELING EXPANDS ITS MONEY AMERICA RADIO PROGRAM TO MEET COMMUNITY NEEDS

Cambridge Credit Counseling Corp., 67 Hunt St., Agawam, MA, 01001

FOR IMMEDIATE RELEASE
Contact: Thomas Fox
Cambridge Credit Counseling Corp.
413-821-6919
tfox@cambridgecredit.org

CAMBRIDGE CREDIT COUNSELING EXPANDS ITS MONEY AMERICA RADIO PROGRAM TO MEET COMMUNITY NEEDS

Weekly WAIC 91.9 FM radio program goes to an hour-long format to provide additional financial information to the local community.

Agawam, MA - Friday, February 05, 201
0
– In April 2009, Cambridge Credit Counseling launched the Money America program which airs 7 p.m. Eastern Standard Time on American International College’s radio station, WAIC 91.9 FM. The show helps residents of Western Massachusetts, and beyond, by providing discussions of the oftentimes complex financial matters that impact their lives. Based on the success of the program, Cambridge and AIC have agreed to expand the half-hour show to a full hour format beginning February 7, 2009.

“We are thrilled the program has been so well received by the community,” remarked Christopher Viale, Cambridge’s president and CEO. “We know that more than 30,000 listeners are tuning in each week, and, based on their feedback, we’ve gotten a sense of the demand that exists for basic financial information. Our staff is looking forward to the additional opportunities that a longer format will make possible.”

Expanding the program to an hour will also allow the show’s hosts to interview other financial professionals and community leaders who are making an impact in the Pioneer Valley. The first scheduled guest is Jennifer A. Connolly, President of Junior Achievement of Western Massachusetts. Ms. Connolly will discuss how JA has evolved since its founding in the Pioneer Valley, and how their economic curriculum is changing the lives of local young people. Future guests will include representatives of mortgage and lending institutions, a representative from the State Treasurer’s Office, local student loan counselors and authors. Those who would like to appear as a guest on Money America should contact Thomas Fox, at (413) 241-2362, or via e-mail at tfox@cambridgecredit.org.

ABOUT CAMBRIDGE CREDIT COUNSELING CORP.
Cambridge Credit Counseling Corp. is a professional housing and debt counseling agency dedicated to educating young adults on the importance of sound financial management, and to providing financially distressed Americans with education, housing counseling and debt management services appropriate to their needs. For more information on this article or to schedule an interview, please call 413-821-6919.

Visit Cambridge Credit Counseling Corp. online at www.cambridgecredit.org. To learn more about Cambridge and the community, please visit www.youtube.com/CambridgeCredit or check out the Cambridge Credit Counseling Corp. financial literacy blog at http://www.cambridgecredit.blogspot.com.

ABOUT MONEY AMERICA
Money America, is hosted by Cambridge’s Community Outreach Director, Thomas Fox, and A.I.C. alum Lavalle Smith, a nationally certified credit counselor. Money America airs on WAIC 91.9 FM at 7 p.m. Eastern Standard Time each Sunday. Each week, the program focuses on important financial topics, including credit reports and scores, managing credit and debt more effectively, and a host of other timely issues.