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Cambridge Credit Counseling Responds

October 12, 2007
The company has submitted the following response to the consumer complaints and news stories on our site:

Cambridge Credit Counseling Corp. has undergone a significant restructuring of our operation over the last several years, and we feel it in the best interest of the consumers we are charged to assist that we share the news of our progress.

The changes Cambridge implemented during these last three years are more than simple upgrades to the services we provide; they are evidence of our continuing commitment to consumers, and of our determination to demonstrate leadership in an industry that is under considerable scrutiny. As a result of Cambridge’s commitment to service, the Better Business Bureau of Central New England reinstated our membership in early 2007.

A copy of Cambridge’s Better Business Bureau “On-Line Reliability Report” may be accessed though the following link: http://www.bbbonline.org/cks.asp?id=107083010123.

The first step in our restructuring efforts was to revamp our Board of Directors, because it ensured the appropriate oversight of the reform measures that followed. Our Board now consists of independent community leaders, prominent business executives and citizen representatives.

Among the first actions the new Board took together was the total separation of all company ties to John and Richard Puccio, and with the for-profit affiliates they had created. Since then, the Board has also established distinct Governance, Audit, and Executive Compensation committees to ensure that Cambridge continues to operate within the spirit of our charitable mission.

Cambridge has worked diligently to successfully resolve all past issues related to the business practices of our prior management. This approach has led to the amicable resolution of all litigation. There are no pending actions and consumer complaints are virtually non-existent. New policies, including a 90-day cancellation feature and a consumer friendly grievance policy have been adopted in the last few years.

Christopher Viale
President & CEO
Cambridge Credit Counseling
67 Hunt Street
Agawam, MA 01001

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