Obama Credit Card Debt Relief Plan Help to Consumers Out of Debt

Aug. 26, 2013 - PRLog -- The obama credit card debt relief plan is a misnomer. Such programs are only to draw in naïve customers under the guise of assumed genuineness. The Debt settlement programs have existed for a long time and can be efficient and effective to give a financial relief option to some but not all consumers. The debt ridden financially distressed family can entrust their problems to an accredited Debt settlement company.  The term alluding to the obama credit card debt relief plan or program is just another way to market the age old credit card relief loans. The Debt settlement programs are effective and even necessary for some people but unwary customers must not be lured by false promises.  

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The obama credit card debt relief grant does not exist. There is no law in the country that allows the president to forgive credit card debt. The credit card business is purely a private business with people being responsible for using them and incurring their debts. No government in the world is going to help citizens who willfully spend extravagantly or without caution over time and expect forgiveness. In fact, the bankruptcy laws of 2005 has even prevented people from filing bankruptcy without credit counseling session at least 6 months before allowing such a step. The consumers or financially distressed families struggling under the crippling burden of huge debts have to realize that they have to help themselves.

The obama credit card debt relief plan will not be able to abuse the aware consumers for long. The government takes strict action against fraudsters trying to use such misnomers to fool the public. The president may not be able to do anything to alleviate credit card debts, but god definitely will. God helps those who help themselves. The government has passed the Credit Card Accountability Responsibility and Disclosure Act of 2009 which was informally called the Obama Credit Card Act of 2009. This was applied in two phases, August 2009 and February 2010. The laws do not help debt ridden consumers qualify for more loans but helps to fight with their creditors for fair treatment.

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The obama credit card debt relief plan is not a magic to help consumers because it is not real. The companies that undertake such methods to reach out to customers must be avoided and reported to the authorities. The government has not and will never provide government credit card financial relief programs to waive off such debts. The laws pertaining to the credit card business can be used to help get better service from the credit card companies. Consumers suffering from the violations of such laws can get legal aid through the Debt settlement companies accredited to provide genuine services.