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Credit Card Debt Relief Government Program

This country's in serious trouble with it's debt problem. Are you? There is help available from the government. Let's talk about what's out there. credit card debt relief government program Thousands, and maybe millions of Americans are way beyond knee deep in debt - they are up to their necks in it.

Credit card debt relief government program: What is it?

Last year, the Federal Trade Commission (FTC) passed The Credit Card Debt Relief Act of 2010 to help consumers who are $10,000 or more in debt.  According to this program, if you are up to your eyeballs in unsecured debt (10k or more), you now have the ability to erase up to  50%, 60%, or sometimes even 70% of your debt!

Credit card debt relief government program: How does it work?

The recent law changes to the way credit card lenders and debt settlement agencies are allowed to do business has made it easier for the consumer to legitimately pay off their debts and have a clean slate. Here is how it works:
  1. After the Stimulus plan was passed an enacted, the President hoped the ensuing bail-out to credit card lenders would be passed on to the consumer - you and me.

  2. Some did - and that meant that they would forgive 50-70% of your unsecure debt.

  3. It also means that they promise to not only help you along the road to legitimately becoming debt-free, they promise that it won't negatively affect your credit score.

This government credit card debt relief program is in great demand with the ever-looming and burgeoning personal debt many people have accrued. But in order to utilize the program you must approach (or have a debt settlement agency approach) the credit card company for help.

This means you must legally bargain with your card lender for a reduced interest rate and elimination of fees. How does one go about doing this?

Credit card debt relief government program: Getting help

Taking control of your financial situation is up to you. But you don't have to go it alone. The credit card debt relief government program has made it easier for you to pay back your debt. But you still need someone to talk to the lending firms, as well as the collection agencies.

Hiring a lawyer is one option. The other option is finding a free, or nearly free credit card debt agency to help you with credit counseling or credit card consolidation. They will talk to your creditors on your behalf to help eliminate costly interest rates and fees. Research the internet to find an agency, or talk to your local U.S. government cooperative extension about free credit card debt relief help.

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