Federal Government Credit Card Debt Relief – Obama Administration Continues to Monitor Debt Settlement Industry
Posted on | January 31, 2011 | No Comments
As the overall economy starts to slowly improve many Americans are attempting to dig themselves out of high interest-rate debt problems but there are still many who have financial issues. These individuals will likely consider federal government credit card debt relief but it is important to recognize that the present time there is no such thing as an Obama or government credit card debt relief program.
President Obama and his staff have worked very hard to help Americans when it comes to reducing high interest-rate debts but this does not mean that they offer a debt settlement or debt relief program. In fact, the government and FTC have worked very hard to start monitoring this industry as some companies have claimed government or Obama approval.
The FTC will also monitor credit card debt relief companies that charge upfront fees. On October 27, 2010 new rules were enforced stating that upfront fees could not be charged when it comes to credit card debt relief. With this being the case many customers should be able to avoid scams and illegitimate companies looking to make quick money.
Taking the time and effort to do research is always very important when it comes to personal finances. Unfortunately, many Americans feel as if the government should bail them out for their bad financial decisions. Instead of making this assumption it is always wise to complete due diligence and understand what steps can be taken to reduce this debt load.
The FTC continues to offer many free articles that help struggling Americans better create a strong weekly or monthly budget. By simply knowing where money is being spent many individuals could save quite a bit extra which in turn could go towards paying down all of these bills that have been adding up over the course of the last several years and decades.
Author: Heather Best
Tags: government credit card debt relief > government debt relief plans > government debt relief programs > Obama Credit Card Debt Relief > obama debt relief plans > obama debt relief programs
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