Are There Government Loans To Assist In Paying Off Credit Card Debt?

Help From The Feds

If you are one of the estimated 40% of all U.S. consumers facing growing credit card debt, the government can actually help you.  Credit card bills can be lowered drastically, even eliminated with a credit card debt management program.  The U.S. Government recognizes that Americans everywhere are suffering from high-interest revolving debt.  They now offer credit card debt programs to assist consumers in reducing their credit card debt.  While government aided debt programs work, they are not the same as private party or non-profit debt assistance companies.  These companies are privately owned and operate their own policies and regulate the application and acceptance of customers.  Typically the government keeps stricter guidelines in place to assist consumers with credit card debt, but this should not stop you from trying them out.

What The Federal Government Can Do For You

The government has several options for assisting Americans with their credit card debt problems.  Theses programs are:

Credit Counseling:  The federal government operates their own credit counseling services to consumers.  Theses services include assisting consumers with budget planning, education about finances, and help in locating additional services.  A good budget can get you on the path to paying off your bills on time and reducing your debt load the old-fashioned way: by paying it off.

Debt Management Programs: A debt management program, or DMP, is a more sophisticated credit card debt solution.  While similar to a budget, it is more formal and will include a third party collecting your total monthly bills amounts, and making the payments for you.  The benefits include lowered debt and never being late or missing a credit card payment.

Debt Consolidation:  The government will now assist you with credit card debt consolidation.  There exists programs to educate you about the debt loan process, warn you about the risks, and help steer you clear of companies that may rip you off.

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4. How To Get Credit Card Consolidation Loans
5. What Are Credit Card Consolidation Loans?