Scam

Biden Credit Card Debt Elimination Act – What You Need to Know

Written by Steve Rhode

On the first day in office as President, Joe Biden is signing the Biden Credit Card Debt Elimination Act. The new federal program will instantly eliminate all of your credit card debt if you contact this company. Act now before the forgiveness is all gone. There is only a limited amount to be granted.

I’m just getting you ready for the next wave of BS marketing that promotes any hype about the terribly liberal credit card elimination program that both red and blue voters will fall for.

Scammer debt relief marketers use these sorts of transitions to promote fictional programs that sound plausible to trick people into contacting X company and talking to a commissioned sales representative that will use a script to push the consumer into some unrelated program.

I don’t even need to be psychic to see it coming. The scam takes advantage of the assumptions people already have.

For example, far-right Trump supporters can more easily believe the “socialist” Biden would do something like that. And far-left people may think they are entitled to such a program.

A good scam feeds on assumptions and beliefs that make something sound possible. But don’t fall for the coming lies. Be a smart consumer and check out the offer yourself. It’s amazing how many scams can be thwarted with 30 seconds of research.

I would recommend that anyone considering using such a program should read the following free guides.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 10 Must Do Steps to Find the Best Counseling or Settlement Company for You
  3. How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off

The Biden Credit Card Act will be the same as the Trump Credit Card Act that eliminated debt. It’s called bankruptcy, and it is a legal right for all insolvent Americans to use to eliminate all of their debt in about 90 days.

Keep your eyes wide open and prepare for the debt relief marketing scams that will come. They always do.

Biden Student Loan Forgiveness Program

The same advice and warning apply to the inevitable Biden Student Loan Forgiveness Program mailers that will land in mailboxes as well.

If you get such a mailer, talk to your student loan servicer first before you do anything. If you have a federal student loan, you can visit StudentAid.gov for the official details.

What I forecast will happen is a Biden Department of Education will go back to administrating the laws and rules on the book for the Public Service Loan Forgiveness Program and Borrower Defense to Repayment rules, unlike the obstructions the Trump Department of Education rolled into place to prevent student loan debtors from the forgiveness Congress passed long ago.




About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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