Federal Government Credit Card Debt Relief Program – Fixed Credit Score and Debts Today
Posted on | March 26, 2010 | No Comments
The Federal Government credit card debt relief program was designed to help Americans fix their credit score and remove debts as soon as possible. If you have had many issues with revolving debt over the last few years then you will want to educate yourself on your rights and ideas on how to get out of debt.
The FTC offers some very good resources on the FTC.gov website. This would be a great place to start your research. By starting here you could find out a great deal of information that could put you on the right track to paying off your credit cards and getting out of debt as soon as possible.
The Credit CARD Act of 2010 is also going to greatly help Americans who have credit card debt problems. This Act will force credit card companies to show cardholders how much they have to pay each month if they want that particular credit card paid off in three years.
Future credit card statements will also show how long it will take to pay off a credit card if you make the minimum monthly payments. Sadly, this could be several years and possibly even decades for some borrowers who have a high interest rate and a high balance on their credit cards. Hopefully this will open the eyes of cardholders and encourage them to pay more on their credit cards.
Author: Heather Best
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