A bailout for personal credit card debt is available for American consumers. Corporate bailouts make the news as the government steps in to help. But a lesser known bailout will help average citizens get a new lease on their financial lives.
Where's my bailout? This is being asked by many small businesses, as well as individual people, when hearing about another government sponsored bailout of a major corporation. Everyone should be entitled to the same assistance from the unscrupulous lending practices of the banks and credit card companies.
In recent years, consumers have been encouraged to use their credit cards for everyday purchases, including groceries, fast food meals, and even the morning cup of coffee on the way to work. The interest and fees added on to all of these purchases have only built up a vast pile of debt for the average cardholder.
This is not much different than the debt built up by corporations, who now have their hand out, asking for help. And the government seems very willing to provide that help, at the long-term expense of the American taxpayer.
There is however, a bailout of sorts for personal credit card debt. This is not a government program, no taxpayer dollars are used, and you will not hear about it on the nightly news. In fact, there is actually no money involved in this bailout. A person can legally and completely discharge 100% of their debts from credit cards and personal loans Using a debt elimination program. All without a new loan, subsidy, or government takeover.
For a person with too much debt, a personal bailout could be the difference between bankruptcy, and financial stability. Yet no agency or congressional handout is available for the average consumer. Individuals need to take their own initiative to help themselves, without seeking a stimulus package that will probably never come.
Secured debts such as mortgages and auto loans, do not qualify for an elimination program. Yet without the burden of the monthly credit card payments, money would be available to pay for housing, transportation, and other obligations. Keeping people in their homes and driving their cars is imperative to improving the economy.
There are many options when it comes to debt relief. Not every program is right for everyone. Most people believe that negotiating or settling debt is the fastest way to pay them off. A debt elimination program is not a settlement program, nor is it a form of bankruptcy. In addition, your credit report will not be damaged for the next 7 to 10 years.
For anybody looking at this option, it is important that some time be dedicated to understand how and why the debt can be relieved. It is not difficult to grasp this concept, nor is this information an obscure secret. It is just information that is not given to us from our normal sources of news. The right information can set a person free from the bondage that the banks have put us into.
Take personal control of your life and debt, and you will initiate your own personal bailout. A presidential order is not needed to accomplish it, and the taxpayer is not burdened with extra future debt.
A Credit Card Debt Stimulus Package
A personal economic stimulus package is not in the plans of our government. But you can stimulate your own economy by eliminating your credit card debt.
Leave Your Credit Cards Home to Stimulate Local Economy
Consumers can have a greater impact on their local economy by leaving their credit cards at home, and making their purchases with cash, checks or debit cards.
Use Caution When Selecting a Debt Settlement Company
Settling debts for less than you owe can be an attractive and quick solution to become debt free. There are issues to be aware of when using a Debt Settlement company. Negotiating a settlement on your own can save a lot of frustration and money.
