Credit Card Debt Settlements - How the Government Has Helped Consumer Debt Settlements

July 27, 2010 - PRLog -- The majority of the society has become victims of credit card debts. This is not the sole fault of the individuals. The world economy should bear the responsibility of this. They are compelled to use credit cards excessively due to the recession. Recession is conquering the whole world without any mercy. Thus the people tend to use credit cards which give them relief in their day to day monetary requirements.

But today as the world has recognized your plight, you do not have to bother finding money to eliminate the debt. There are ways which you can eliminate your debt, without paying the whole amount. You will be surprised to hear that now you can settle your debt with the aid of government.

The government has decided to help the debt by providing necessary money to settle their debts. They have taken this decision wisely and rightly timed. There are two main reasons for this decision. One is that it is the governments' duty to help the citizens when they are in need. And then the next one is that, debtors are burdens to the economy of the country.

This money provided by the government is called stimulus money. If you are interested in receiving stimulus money to settle your debt, you have to apply for that through a debt settlement company. These debt settlement companies have the capability of reducing your debt up to 60-90 percent. After the debt is reduced the government will take few points in to consideration. And if you meet with qualification they seek for, you will be liable to be provided with stimulus money.

The first point they consider is the amount of your debt. It should be a total of more that $ 10,000 in order to get stimulus money. Then they will check your previous payments and if you have not paid them timely, it indicates that you are not stable. Thus you will get a chance. Then they will also take your credit score in to consideration. To get selected you should have a lower credit score.

If you are deeply in debt and are looking for legitimate ways to control and eliminate your financial obligations then a debt settlement could be the answer. Consumers can expect to eliminate 60% of their unsecured debt on average with the help of a legitimate debt settlement company. To find established and proven debt relief companies in your state check out the following link:
Free Debt Advice
(http://www.defeatdebts.com)
Contact us for free debt advice = 8883613619