Government Help With Credit Card Debt

There is starting to be some talk of government help with student loan debt which often goes hand in hand with credit card debt.

student loan reliefs last blog post..On the Bright Side, Student Loan Interest is Tax-Deductible

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We are getting a much needed wakeup call from the economy, both personally and as a nation. But if your situation is truly dire don’t count on government help. To protect what you have left of your assets you may need professional help from lawyers.

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I have heard on the news to only use federally funded programs to help with debt relief /bill consolidation but have not been able to find any -I am in Florida and just lost my job, single parent, 2 kids. Does anyone know who to contact?

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I have heard on the news to only use federally funded programs to help with debt relief /bill consolidation but have not been able to find any -I am in pennsylvania and just lost my job, I am married and have one daughter 6 years old and my wife is under medication and she is un employed and I cannot effort to buy her medicine as I will loose my health insurance because of laid off, Does anyone know who to contact?

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my spous is out of work and owes a big credit card is their any help with this

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I am 59 years old and dying from idiopathic pulmonary fibrosis. When diagnosed in 2003 I was only given 3-5 years to live. Obviously I have lived longer than they said I would. I am in credit card debt up to my eyeballs. I pay extra on all my credit cards each month, but am getting nowhere. They do no seem to decrease at all. I don’t know if it is because of the interest they charge or because they are taking my payments and applying them only to the interest. Additionally, I will see miscellaneous charges for things I did not order or for fees I have previously never seen. I need help!!! I would like to get this debt off my back, so maybe I could enjoy the last year of my life.

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hello, My husband lost his job,I’m on medical leave,,I need government help,,To pay of my credit cards…tired of all the calls,,could you please point me in the right direction..Help pay off without applying to get half off from debt counsel…I need help paying these off,,can they sue us

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Steve Rhode Reply:
September 17th, 2009 at 6:44 am

Patty,

There is no government help to pay off credit card debt. The only government intervention to reduce what you owe is bankruptcy.

Steve

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the only way out is to build up your death benefit then make your death look like an accident. This will be my last step and I hope I don’t have to do it but the simple fact of the matter is that 1) I have no other recourse and I’m worth more dead than alive. LOL!!!

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I was a part owner in a restaurante and now I am in debt for the Point of sale system. I owe about 15,000. Is there anything I can do that would help me reduce the payment or just a little help form the Gov’t. I lost my job in June, I am on unemployment and I am also taking care of my daughter full time.

Thanks,

Chuck

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Hello Steve,

My name is Joe Sellers and I want to let you know you have a great site with good information. I speak to people everyday that are in debt and all to often they ask the question about the government assistance to pay off their debt. Sure, the government is going to tell you not to worry because we will pay off your debt for you.

It will never happen but because of some of these companies trying to sell a list of agencies that will pay off your debt, people kind of lose common sense and want the quick fix.

Unfortunately a lot of the debt settlement companies out there are doing the same thing and try to make it sound like they have this magical fix for any debt situation.

When it comes down to it the is no magic wand because any decision that is made will have some downfall behind it. I have for years tried to explain that to my clients and still some individuals won’t listen and end up with one of these fast talking sales man you tells them what they want to hear.

When you get a chance check out this letter I sent to the banks in regards to the bailout. I look forward to reading more of your articles and have a good day. Thanks Joe Sellers

Joe Sellers´s last blog ..We should be thanking the credit card companies for all that they have done for us over the years

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I wrote my credit card company and asked for a payment plan because of no work the total of the card is just $300.00. So I ask for a payment plan, and closed the account. They wrote me back and said no can do. what can I do now? Help . Mary

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My husband has a credit card of 14,000. dollars and we are trying to find out the best way to pay this off. His interest is 29%. We are paying huge amounts but it doesn’t do any good. What are your recomendations?

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Joe Sellers Reply:
January 18th, 2010 at 9:34 pm

Hello Cathy,

It is crazy when you think about the amount of interest you end up paying on a credit card. Each month you try to do everything possible to make the minimum payment but you don’t see any real decline in the principal balance. You could end up paying minimum payments for 40 years or more

We are also being hit with a reduction in our line of credit which leads to other problems against our credit. You should review your options before you make any decision and consider the positive and negative effects it will have. When you get a chance you should check out the letter I sent to the credit card companies.

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