If you are looking for credit card help from the government, then you are in luck. Many people are not aware that the US government has actually made provision for anyone who has past due balances.
But there is one small catch. You need to have at least $10,000 in unsecured debt to qualify for credit card help from the government. This is a predetermined amount that is constant with each company that works within the stimulus bill.
Many Americans are not aware that the real reason you can get credit card help from the government is because the stimulus bill helped to funnel ten of billions of dollars into our economy. As this money helped to save your creditors, they were able to extend more loans to people who began fresh accounts. The reason that many of these companies were on the verge of bankruptcy is because of the amount of bad debt that they were carrying that was not being paid by the average consumer.
Now, once the credit industry received their bail out, many American families were able to get their debts erased? Why is this? Are these companies just being nice? Not hardly.
Once these companies were bailed out from the stimulus package. A secondary benefit came to those who had over $10,000 in debt that they were not able to pay. Your credit company will not phone you to let you know that you can do this however. They are happy to take your interest payments every month, but this is not necessary because you now have a way out if you qualify for the benefit of the recent bill passed in congress.
So how do you know how much you can get erased and how much do people with 10K or more credit debt get erased? Generally the average is around 50% and as high as 60% or more.
Remember, credit card help from the government does not come around too often, so if you have more than 10k, getting free information from the companies that work within the stimulus package can help save you a lot of money and heartache and most of all, a bankruptcy filing. The time that this debt erasure can take place had not yet been determined, so it could stop or the requirements could change at any time.
If you are in debt because you had no choice like many Americans, this "Rescue ship", has now been set aside to help those who are suffering in debt and have no means of paying it back.
Did you know you can erase your credit debt?
It is now perfectly legal to Erase Credit Debt according to the new stimulus package if you have over $10,000 in debt.
They give out free information to help you erase your credit card debt once according to the new stimulus package.
Click Here. It takes less than 10 seconds.
For more information, please visit: Credit Card Help
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