Government Credit Card Debt Relief- Do You Qualify For Debt Reduction?

July 16, 2010 - PRLog -- The most serious problem facing many Americans is credit card debt.  While it used to be that the average credit card balance for most Americans was a few thousand dollars, it is now common to see balances that are upwards of over ten thousand dollars per household.  

This fact has created a consumer debt emergency that has prompted the government to enact the government credit card debt relief package for companies.  This means that companies who qualified were able to get government help.

Why are companies helping the American public?

This is because there aren't many people who can pay their monthly bills along with enormous balances incurred by credit cards and interest.  It's easy to see why, when the payment for about $9,000 can be over $400 per month.  

The financial institutions know that most American families who incur ongoing credit card debt will never be able to pay it back.  This is why the government made credit card government helped these companies get back on track.  However, not everyone knows about this stimulus package and what it did and did not do.

With the government credit card bailout, banks were able to stay afloat. Although this created many rumors that the government was personally helping people reduce their debts. However, this is simply not true.

The good news is that it is possible to ethically reduce your debts.

This is all the difference in the world for people who want to pay off their debt and go forward in their life.  By making real payments on your debt according to your income, you can pay off your debt, pay your current bills and make the regular payments that you wanted to make in the first place.

Companies were able to take full advantage of the government credit card debt relief program, but consumers need private help because the government is not involved in personal debt reduction.

You can now legally and ethically reduce your credit debt.

http://eliminate-your-credit-card-debt.com

Do not stay in debt when the stimulus bill already bailed out your creditors. Just enter in how much you owe to see how much you are legally able to get reduced.

There is no reason to file bankruptcy when you have legal rights to reduce the amount you owe.